LocalBonus offers a universal loyalty program that ties points to users' debit or credit cards, removing the need for apps, check-ins, or punchcards. Once a card is registered, transactions at participating merchants automatically accrue points that can be redeemed for cash. The startup currently operates in five U.S. markets — New York City, Denver, Seattle, Portland and Sacramento — and works with more than 800 merchants. To improve its product and expand into other markets, LocalBonus closed a $900,000 seed financing led by Payment Ventures. Tony VanBrackle of Payment Ventures joined the company's board as part of the round. The company graduated from the Entrepreneurs Roundtable Accelerator and was founded by CEO Derek Webster, who previously advised banks at Oliver Wyman and ran credit card product development at E*TRADE.

Total raised

$1M

Funding rounds

1

Latest round

Seed

Latest activity

Aug 2012