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Lloyds to buy a stake in loyalty app Bink

Tuesday 4 January 2022 13:39 CET | News

UK-based bank Lloyds has announced buying a stake in the loyalty app startup Bink.

Bink works by linking consumers' payment cards with the loyalty schemes of participating retailers.

It is still unclear how much Lloyds plans to invest in the business, or at what valuation.

Their partnership is expected to launch in the first half of 2022.

Bink is also thought to be raising additional capital from existing shareholders alongside the injection from Lloyds.

Bink struck its first banking partnership with Barclays in 2019. The bank invested approximately GPB 10 million in Bink at the time.


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Keywords: investment, banks, startup, loyalty programme, retail
Categories: Banking & Fintech
Companies:
Countries: United Kingdom
This article is part of category

Banking & Fintech