qiibee expands B2B Rewards Marketplace

Blockchain-based B2B rewards marketplace qiibee said Tuesday (July 5) that it raised $ 4.8 million in a seed funding round that it will use to grow its global team and expand into new markets, including North America, according to a press release from the company. .

Z5 Capital led qiibee’s round of funding, with the participation of the digital advertising group Meet The People; Ben Davey, former CEO of Barclays Venture; Mainardo de Nardis, former CEO of Omnicom Media Group and CEO of OMD Worldwide; and Phil Rubin, founder of Gray Space Matters and rDialogue; as well as existing investors R / GA Ventures.

“By creating qiibee, we set out with the mission to unlock the purchasing power of the global rewards economy by making all rewards interchangeable through our blockchain-based B2B rewards marketplace,” said qiibee CEO and co-founder Gabriele Giancola in the company’s press release.

“Allowing our customers to easily scale and expand their partner work by providing instant access to world-renowned brands, thousands of rewards, crypto and NFTs, and connecting loyalty programs with millions of new members, is exactly what we do. Our goal is not just to facilitate the market, we want to lead this market to new heights, said Giancola.

The first link of various loyalty programs through qiibee’s platform was launched last year, when the Swiss luxury watch manufacturer Louis Erard let its members exchange their own loyalty currency, Louis Erard Points, for miles from Etihad Guest and 9 different cryptocurrencies.

Related: B2B payment company Paystand unveils crypto cards

In March, Paystand launched what they called the “first business card with native cryptocurrencies” in the form of the DeFi Corporate Card. It offers instant delivery of virtual and physical cards, advanced usage controls, real-time expense reporting and bitcoin rewards, so businesses can earn bitcoin rewards with every purchase.

Businesses that pay with DeFi cards using Paystand’s commercial payment network can avoid paying transaction fees. The cards also offer real-time tracking of transactions by class and category, and expense controls that include spending limits, vendor category codes, and auto-lock dates to help teams stay within budget.