Bits of Stock strings at 4.2 million euros to allow buyers to earn stock rewards

Globally, financial inequality is widening and younger generations bear the greatest burden of this challenge. Dutch fintech start-up Bits of Stock has raised €4.2 million to tackle wealth inequality and help young people learn about finance and investing.

The round was led by Keen Venture Partners and Yellow Accelerator by Snap Inc.

The additional money will fuel the company’s expansion plan and allow it to integrate more than 200 brands over the next 12 months. The fintech company currently works with 60 brands, including Adidas, KFC, Nike and Zara, and has subscription brands such as Uber, Spotify and Netlfix active on the platform.

Founded in 2018, the Amsterdam-based platform introduced a consumer rewards platform that builds brand loyalty, replacing traditional points, loyalty cards and cashback programs with assets that grow in value over time. This allows everyday choices to become opportunities for wealth creation. Shoppers must register their credit cards in the Bits of Stock app to automatically start earning rewards.

The company has also rolled out a Growth Rewards API to allow customers to integrate a seamless rewards experience into their own apps and choose from thousands of fractional shares and crypto rewards.

Talking about creating an “economy of ownership” for the thousands of brands and their end consumers, Arash Asady, CEO and co-founder of Bits of Stock, said, “The Bits of Stock Growth Rewards API will support a range of integrated funding and rewards. -use cases as a service. It’s the most significant innovation in customer loyalty programs since their inception more than two centuries ago.

James T. Quintero