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Turkish-founded startup Kalder has raised $10.5 million in funding, which includes a $7 million Seed round. The platform is going to revolutionize the way brands interact with their customers and generate revenue through loyalty programs with its seamless white-label partner rewards system.
Kalder’s platform enables brands to place partner cashback programmes straight within their applications or websites. This service automatically rewards customers through purchases at participating stores, allowing brands to reward members of loyalty programmes with cashback on every eligible purchase made across partner stores and generating revenue by commission for the brand.
The platform streamlines the entire process, making it easier for brands to track purchases, issue payouts, and gain insights into customer behavior. Brands benefit from automated tracking, real-time insights, and direct payouts on each transaction. Kalder integrates with payment networks to handle everything from customer sign-ups to purchase tracking and payments, creating a seamless and efficient experience for both customers and brands.
Chief Executive and founder Gokce Guven commented: “Until now, most brands haven’t had access to tools that allow them to turn loyalty into profit.”. Any brand can now turn loyalty programs into cash through Kalder, much like the gold standard of loyalty programs that travel and finance sectors provide. As the climate to acquire customers rises with acquisition costs going up, brands are seeking creative ways to deepen customer relationships. He wants to help them infuse this approach into their everyday doings.
The Seed round was led by Javelin Venture Partners, with participation from 8VC, Human Capital, Gingerbread Capital, Emergence Capital, Formus Capital, and notable angel investors. Kalder had previously raised $3.5 million in seed funding from 500 Startups.
According to Noah Doyle, a managing director for Javelin Venture Partners, Kalder has made the monetization of loyalty considerably easier, with a concept that has been talked about in the marketing world for years. He pointed out that Kalder’s platform delivers a turnkey solution that enables brands of any scale to profit from their customers’ loyalty while fitting into bigger marketing goals.
Kalder’s platform is innovative and has already managed to attract an ideal mix of clients. Through Kalder, clients such as Godiva, MILE, Heat.io, and Swiss-Brazilian sports club BSC Young Boys have managed to attract a sizeable number of cashback users whose numbers average 50,000. Their platform drives $450,000 in reward sales revenue every month. The platform has also attracted big-name investors, which include Harry Maguire of Manchester United, Shuo Wang, Co-founder of Deel, Julius Genachowski, Board Chairman of Sonos and former FCC Chairman, amongst other notable names.
Kalder’s digital loyalty ecosystem is also gaining traction in the sports industry. According to Michael Sutherland, former CTO of Real Madrid: “Kalder connects fans with businesses while bringing in a new revenue stream for clubs. Kalder’s cashback model fosters community in itself, and one can clearly see the value to fans while requiring minimal integration and no upfront costs.”.
Kalder has positioned itself to be a leader in the loyalty rewards space, enabling brands to turn customer loyalty into a source of revenue. Its streamlined platform and growing list of high-profile clients ensure that Kalder challenges traditional loyalty program models, and its base will help brands develop deeper relationships with their customers that will boost profits.
