Velocity Capital invests in AI-based open-banking personalised offers platform Network B

Confidence in the AI-based personalised offers platform Network B continues to build thanks to recent investment from Velocity Capital Advisors.

Network B is one of the leading open-banking and card-linked rewards platforms, encouraging customer loyalty to retail brands through hyper-personalised cashback offers. Since its inception in 2020, Network B has seen impressive growth with a steep increase in sales over the past 8 months. Revenue is expected to surpass £3 million by the end of 2022. Network B is headed by serial digital entrepreneur Brad Blake who has founded and sold
several businesses over his working life. With a rich background in customer loyalty platforms, Brad has also worked for retail loyalty brands such as Quidco and most recently, was the Director of Loyalty for intu Properties PLC.

The retail rewards platform has access to over 20 million customers with over 3.5 million customers using their open-banking & card-linked offers through over 25 publishers and more than 4,000 retail brands. This is testament to the fintech’s phenomenal success considering its conception was just two years ago. Clients and partners include Next Jump, Perkbox, Endsleigh and Collinson Group.

“Network B has seen phenomenal growth over the past two years and, at a time when retailers are struggling to recover to pre-pandemic levels, is well placed to drive incremental sales for retailers, while also providing value-add for consumers. We are looking forward to supporting the company through its next stage of development as it continues to enhance the experience for retailers and customers alike.” says Kirsten Gohl, Velocity Capital
Advisors.

Founder and CEO Brad Blake says that the investment from Velocity Capital marks a new stage for the company which up to now has seen organic growth thanks to in-bound clients. This investment will enable Network B to continue to advance its technology platform as well as focus on outbound marketing strategies and brand building activity.

“Our mission is to use technology to combine all aspects of retail rewards and loyalty into one platform, maximising merchant and retailer experience and above all ensuring the best benefits and rewards go straight to the end customer.

Our market leading, proprietary technology enables us to use open-banking & card-linking to drive hyper-personalised customer offers via AI, whilst ensuring that our retail partners are gaining truly incremental sales.

With Velocity Capital’s investment, we intend to continue with our mission, further focussing on developing our API technology to enhance the whole loyalty landscape.” says CEO Brad Blake.