Coinflip Solutions
First payment network to route transactions on a per-item basis.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor investor | €0.0 | round | |
$3.0m | Seed | ||
| Total Funding | 000k | ||
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Coinflip Solutions operates as a retail technology company specializing in "point of sale to cloud" transaction platforms. The firm develops systems that manage promotions and electronic health benefits, which currently facilitate billions of dollars in revenue across the grocery, drug, and mass retail sectors. The core of their business is a payment technology platform designed to simplify the complex retail technology ecosystem. This platform enables client companies to execute, measure, and refine their savings, benefits, and loyalty programs.
The company's service focuses on making electronic benefits and incentives easily and securely spendable for consumers at the point of sale. By integrating directly with retail transaction systems, Coinflip allows customers to apply various forms of digital currency, such as loyalty points or health benefits, to their purchases seamlessly. This capability helps retailers and program providers deliver tangible value to their customers, enhancing loyalty and providing detailed data on program effectiveness. The business model appears to be centered on providing this technology as a service to retailers and other companies that offer benefit and loyalty programs.
Founded in 2015, Coinflip Solutions has since been marked as a 'deadpooled' company, according to Tracxn and PitchBook. The company went through a couple of seed funding rounds, raising $1.84 million in June 2016 and an undisclosed amount in June 2018 from investors including Shoreline Venture Management and JetBlue Technology Ventures. PitchBook data indicates the company ceased operations around April 2019.
Keywords: retail technology, point of sale, payment platform, electronic benefits, loyalty programs, customer incentives, retail transaction systems, POS integration, digital currency redemption, consumer marketing, retail services, shopper rewards, benefits management, retail payments, secure transactions, grocery retail tech, drug store payments, mass retail solutions, customer savings, loyalty currency