On October 29, Cardlytics announced the closing of its mostrecent funding round, which substantially increases the firm’s capital fromabout $100 million to $170 million. Discovery Capital, a technology orientedventure capital firm based in Canada led the round and will appoint arepresentative to the Cardlytics board of directors.
Mercator Advisory Group, which has been tracking thecard-linked offer industry from its beginnings, recently reviewed Cardlyticsand other vendors in a report titled: “Merchant-FundedRewards: Issuers Regroup after Disappointment.” As is the case with allemerging technologies, not all providers have been successful. Cardlytics hasemerged as a leading provider, which has attracted significant outsideinvestment. The firm could use the funds to further its international expansionor expand its offering beyond its current bank-centric model.
Overview by Michael Misasi, Analyst Credit Advisory Service for Mercator Advisory Group
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