Wildfire Systems Inc., a Fintech platform that powers white-label reward programs and shopping companions, announced that it has secured a strategic investment from Citi Ventures.
The funding will “support Wildfire’s technological innovation and continued ability to deploy new features that will drive rewarding online shopping experiences for consumers worldwide.”
The company’s white-label, turnkey offering enables partners — which include financial institutions (FIs), telecom leaders, and technology companies — “to provide their customers with cashback rewards, digital coupons and other benefits when they shop at thousands of online merchants.”
Luis Valdich, Managing Director & Head of Fintech Investing at Citi Ventures, said:
“Wildfire is a leading player at the intersection of embedded finance, e-commerce, rewards, and loyalty. We are excited to invest in Wildfire given its strong market traction and vast potential to help financial services firms drive revenue, engagement, customer acquisition and retention.”
Jordan Glazier, CEO of Wildfire Systems, remarked:
“We are thrilled by Citi Ventures’ investment in Wildfire. As an investor in several successful consumer fintech startups — including Honey, which was acquired by PayPal in 2019 — Citi Ventures really understands our business and appreciates our value proposition. I look forward to working with the Citi Ventures team to continue to grow our business.”
Wildfire has “received $24.5 million in venture investment to date, including this new investment from Citi Ventures.”
The company “announced a $15 million Series A round in August 2021, co-led by TTV Capital and QED Investors. Other investors include Mucker Capital, Bonfire Ventures, Moonshots Capital, B Capital, and BAM Ventures.”
Wildfire continues “to establish partnerships with many of the world’s leading financial services organizations.”
Recently the company “announced a partnership with Visa, the world leader in digital payments.”
Wildfire’s platform will “power Visa’s new Visa Affiliate Marketing Solutions (VAMS) program, providing Visa’s vast network of card issuers with a rich set of benefits they’ll deliver to consumers with the most advanced and comprehensive shopping rewards solution on the market today.”
As noted in the update, Wildfire Systems provides “an enterprise platform which enables clients to embed social commerce, cashback rewards, digital coupons, and shopping companions within their existing services.”
Wildfire’s patented suite of technologies “rewards online shopping and harnesses digital word-of-mouth, delivering enhanced user experiences, consumer loyalty, and new revenue streams for clients.”
Wildfire helps with “driving incremental revenue for over 50,000 online merchant programs in over 50 countries.”
The company is “based in San Diego and was founded in 2017.”