Twid operates a rewards-based payments platform that enables customers to pay at online and offline stores using loyalty and reward points from banks, fintech platforms and e-commerce sites. Its "Pay with Rewards" option integrates on checkout pages and at retailers and can fetch points from issuers such as IndusInd Bank, Payback, InterMiles and Flipkart SuperCoins. The company claims more than 40 million registered users, presence across over 50,000 merchants and access to more than $1 billion in reward points via issuer partners. Twid says it controls more than 5–8% of the total digital transactions of its merchant partners and has integrated with payment gateways including PayU, RazorPay and CCAvenue. Founders Amit Koshal, Rishi Batra and Amit Sharma started the company in 2020. Twid plans to use the fresh funds to grow its network of merchants and issuers, expand in the South Asian market, build a larger talent team (current headcount 42) and invest heavily in technology and data science. TWID is a rewards-points aggregator that pools and tracks loyalty data from users’ bank, retail, entertainment, F&B and travel accounts and lets users spend those points as online or offline cash. It assigns instant monetary value to aggregated points and aims to bring idle rewards back into circulation, which it says will boost digital transactions and incremental card, net-banking and UPI spends. The company cites a roughly $2.25 billion unnoticed rewards-points opportunity in the Indian consumer market. Launched in 2018, TWID plans to onboard over 50 brands and banks into its rewards pool and is targeting more than 300,000 merchants to accept TWID as payment and over three million active users. Founders Amit Sharma, Rishi Batra and Amit Koshal previously built Fashalot and bring backgrounds at Intuit, Oracle, HP, Bennett, Coleman and other firms. TWID recently raised external capital in a seed round, signaling early-stage investor interest in its model.

Total raised

$13M

Funding rounds

2

Latest round

Series A

Latest activity

Aug 2022