The six-year-old Atlanta-based Cardlytics bank data analytics firm has just pulled in $70 million investments as it preps for an IPO.
“The six-year-old company uses the transaction history of customers in participating banks — credit card payments, checks written, debit card withdrawals — to define customers’ buying patterns. The company said it is integrated into nearly 400 banks (Bank of America and PNC among them), representing 83 million of the 110 million households in the U.S.,” reported VentureBeat. Advertisers then offer credit card-based discounts to boost purchases at places you are likely to shop or eat. Aside from the money savings, consumers benefit by not having to manage loyalty cards or coupons, either virtual or physical.”
The Series F round, led by Discovery Capital, brings the total raised by Cardlytics to slightly more than $170 million, the story reported.