PoshVine

PoshVine operates as a fintech company specializing in payment-linked loyalty and customer engagement solutions. Founded in 2011 by Richik Nandi, Garima Satija, and Rafi Ali Khan, the Bengaluru-based firm initially started with a seed funding round of $46K in 2012. The founders identified a gap in the market for curated travel and dining experiences, which evolved into a robust loyalty-as-a-service platform. Garima Satija, an MBA from Amity University, drew from her HR and consulting background at companies like Naukri.com to shape the venture. Richik Nandi, an MBA from XLRI Jamshedpur with prior experience at Microsoft, shared the vision of creating a platform for memorable experiences.

The company's core business involves providing a technology platform for banks, payment networks, and merchants to offer intelligent rewards and personalized offers to cardholders based on their transaction patterns. This service aims to increase customer retention and boost the share of wallet for its clients. PoshVine's B2B model aggregates offers from a network of over 5,000 merchants and integrates them into a single solution for financial institutions, which then extend these perks to their customers. The platform analyzes customer segmentation and behavioral transaction data to enable the creation of targeted promotional campaigns, including occasion-based offers and geo-fenced notifications.

A significant milestone in the company's history was its acquisition by Razorpay in September 2022 for an undisclosed amount, marking Razorpay's seventh acquisition. This strategic move allowed Razorpay to enter the loyalty and rewards management space, integrating PoshVine's offerings with its own vast merchant network and point-of-sale systems. Post-acquisition, the entire PoshVine team joined Razorpay to operate its loyalty and rewards vertical. Prior to the acquisition, PoshVine had established itself as a key player, serving over 20 prominent banks and card networks, including HDFC Bank, SBI Card, Visa, and American Express, across India and Southeast Asia.

PoshVine's services provide a mutually beneficial ecosystem. Financial institutions and fintech companies can enhance customer engagement and encourage card usage. Merchants gain access to a large, targeted customer base to increase revenue. End-users, the cardholders, benefit from maximized savings and rewards, effectively supercharging their credit and debit cards with curated deals and experiences. The platform facilitates a range of rewards, including gift cards, reward points, and cashback, bundled to suit different customer actions and patterns.

Keywords: loyalty management, customer engagement solutions, rewards platform, fintech, payment-linked offers, cardholder benefits, banking solutions, merchant network, customer retention, loyalty-as-a-service, digital rewards, financial technology, Razorpay, Richik Nandi, Garima Satija, spend patterns, contextual rewards, offer aggregation, bank loyalty programs, card-linked offers, rewards ecosystem, customer lifetime value