Network B is an Open Banking and card-linked rewards platform, encouraging customer loyalty to retail brands through hyper-personalised cashback offers. Since its inception in 2020, Network B has seen growth with an increase in sales over the past 8 months. Revenue is expected to surpass GBP 3 million by the end of 2022.
The retail rewards platform has access to over 20 million customers with over 3.5 million customers using their Open Banking & card-linked offers through over 25 publishers and more than 4,000 retail brands. Clients and partners include Next Jump, Perkbox, Endsleigh, and Collinson Group.
The investment from Velocity Capital marks a new stage for the company which up to now has seen organic growth thanks to in-bound clients. This investment will enable Network B to continue to advance its technology platform as well as focus on outbound marketing strategies and brand building activity.
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