Polish startup ZenCard, which launched in December 2014 with the purpose of offering businesses a system through which they can turn their payment terminals into a universal loyalty and rewards card platform, has revealed that they have closed an agreement for 2 million Euro in funding with domestic investors Experior Ventures and SpeedUp Group. Having already started to build a presence in their home Polish market, they intend to use this latest round of funding to expand within Europe, particularly targeting the United Kingdom.
ZenCard is looking to simplify the process of delivering rewards and loyalty cards to customers by allowing end-users to sign-up by simply inputting their gender and phone number at the payment terminal terminal. From that point, the system is designed to automatically check for discounts during future trips and deduct points from the end-user’s account. On the merchant side, the platform provides analytics that allow businesses keep track of discounts being used.
The platform costs 25 Euro per terminal per month to use, but they also offer a special price for enterprise-level customers (as well as a special enterprise product). ZenCard CMO and co-founder Jarek Sygitowicz tells me that they have reached agreements with more than 20 customers since they unveiled their platform for retailers in April.