Bits of Stock, a rewards platform that lets shoppers automatically earn fractional shares, has raised $4.4 million in seed funding from Keen Venture Partners and Yellow Accelerator by Snap.
The Bits of Stock app replaces traditional points, loyalty cards, and cashback programmes with assets that grow in value over time. Shoppers enrol a credit card in the app to automatically start earning fractional shares and crypto rewards for everyday purchases.
The Dutch firm is currently working with 60 brands, including Adidas, KFC, Nike, Zara, Uber, Spotify and Netflix. With the new funding in place, it says it wants to add 200 more firms in the next year.
The startup has also unveiled an API that lets clients - like retailers, neobanks, and BNPL providers - embed the rewards experience into their own apps.
Arash Asady, CEO, Bits of Stock, says: "The funding will help us to scale up our mission of building the “Ownership Economy” for the thousands of brands and their tens of millions of end consumers. Our ultimate purpose is to address wealth inequality and help young people learn about finance and investing."