NEW YORK, NY, Feb 26, 2016 – Ribbit.me, a NY-based blockchain technology startup, announced that it closed a $1.5 million seed round, led by Hayaat Group, an investment company based in Dubai, with Privity FZ LLE acting as advisor.
Ribbit.me has built the world’s first universal platform for the loyalty and rewards industry using blockchain and smart contract technology. Currently, program operators such as airlines or hotels, are faced with high operational costs and outdated processes, resulting in a poor customer experience.
Ribbit.me’s universal platform coupled with its patent-pending technology enables program operators to reduce costs by sharing a distributed ledger, thus streamlining the customer experience while more effectively managing the rewards liability.
The US loyalty and rewards market alone is $65B this year and expected to double in the next 5 years. Ribbit.me’s vision is to remove the friction preventing program operators from working together in redemption networks by creating a single ecosystem, the LoyaltyNetwork.
“We are the first company to introduce blockchain and smart contract technology to the loyalty and rewards industry,” said Greg Simon, CEO and Co-Founder of Ribbit.me. “This funding will allow us to accelerate development by expanding our team as more behavior incentification opportunities arise beyond the traditional model.”
Ribbit.me is reinventing how loyalty is created and rewarded. The technology allows program operators to establish multi-agent redemption networks, effectively manage program liabilities, and offer dynamic issuance/redemption options. For more information visit www.ribbit.me.
Three decades in the Middle East and Europe has cemented Hayaat Group’s reputation as one of the premier investment companies in the region. Please visit www.hayaatgroup.com.
Founded in 2004, Privity FZ LLE is an independent Dubai-based advisory firm that seeks entrepreneurs with interesting and unique ideas and helps them develop and grow. For more information, please visit www.privitylle.com.
Press Contact:
Sean Dennis
Co-Founder & COO
sean@ribbit.me
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
NOTE: This is a press release, any product / service mentioned is not endorsed by The Merkle.
Ethereum developers have officially named the network’s post-Glamsterdam 2026 upgrade Hegota. The name merges two…
TRON is pushing deeper into real-world financial infrastructure. TRON has announced that Kalshi, the world’s…
The “crypto Robin Hood” story has reached its legal end. A London court has sentenced…
$NEAR is now live on Solana. And the implications go far beyond a simple token…
Bitcoin moved fast. Then it pulled back just as quickly. A sudden surge pushed BTC…
Hyperliquid is facing one of its most consequential governance moments yet. A proposal now before…