qiibee, the leading blockchain-based B2B rewards marketplace, has announced it has raised $4.8m following the close of a seed funding round led by Z5 Capital.
The successful raise also saw participation from other high profile investors including: digital advertising group Meet The People; Ben Davey, former CEO of Barclays Venture; Mainardo de Nardis, Former Executive Vice-Chairman of Omnicom Media Group and CEO of OMD Worldwide; and Phil Rubin, founder of Grey Space Matters and rDialogue (sold to Bond Loyalty). Demonstrating their unwavering commitment and belief in qiibee, existing investors R/GA Ventures also participated.
Founded by two brothers Gabriele and Gianluca Giancola, the Swiss company is setting the gold standard for brands to connect their loyalty programs through blockchain and scale partnership networks efficiently. qiibee has earmarked funds secured during this round for the growth of its global team. In addition, the investment will bolster the company’s plans for expansion into other priority markets such as North America.
qiibee’s CEO and Co-founder, Gabriele Giancola said, “In creating qiibee, we set out with the mission to unlock the purchasing power of the global rewards economy by making all rewards exchangeable through our blockchain-based B2B rewards marketplace. Allowing our clients to easily scale and expand their partnerwork by giving instant access to world-renowned brands, thousands of rewards, crypto, and NFTs, and connecting loyalty programs with millions of new members, that’s exactly what we are doing. Our goal is not just to facilitate the market, we want to lead this market to new heights. We could not be prouder to reach this new funding milestone, which will take us one step closer towards achieving our mission.”
In 2021, the first connection between different loyalty programs through qiibee’s technology launched with Louis Erard, a Swiss luxury watch maker, that enables their members to exchange their own loyalty currency, Louis Erard Points, to miles from Etihad Guest and 9 different cryptocurrencies. This launch was a one-of-a-kind connection of loyalty programs adding value for members and decreasing integration costs for brands from 12 months to 1 click.
Investor and founding partner at Z5 Capital, Arun Ramamoorthy, spoke about his reasons for investing in qiibee, stating: “In today’s loyalty market, users don’t have access to a diverse array of options when it comes to utilizing the loyalty points they are accumulating. qiibee is forcing brands to rethink their approach to customers, allowing users the choices they deserve, while also offering major brands access to the emerging blockchain market. We’re proud to invest in such an innovative company and are excited to see what the next few months and years will bring for qiibee.”
