E-commerce conversion charges stay low, with solely 2-3% of client curiosity turning into precise purchases. For retailers, this implies missed gross sales alternatives as customers abandon carts in the hunt for higher offers or extra handy cost choices. On the similar time, customers are overwhelmed by fragmented rewards and cashback affords throughout a number of platforms, which complicates their procuring expertise and forces them to leap between websites. This friction not solely frustrates customers but in addition reduces loyalty and monetization alternatives for retailers, monetary establishments, and digital platforms like browsers and wallets, resulting in a weakened worth chain for everybody concerned.
We invested in Wildfire as a result of their white-label platform permits companions to seamlessly embed cashback and coupon companies into their present ecosystems, serving to retailers enhance conversion charges and making it simpler for customers to search out offers and full purchases. Banks and wallets partnering with Wildfire profit from elevated buyer retention and keep top-of-mind at checkout. Wildfire’s resolution enhances the patron expertise by permitting customers to stack rewards and reductions on prime of present bank card affords or service provider promotions, resulting in 5-10x larger conversion charges and elevated financial savings via their favourite apps or web sites.
We participated in Wildfire’s $16 million Collection B spherical, co-led by Intuit Ventures and Mucker Capital. Wildfire’s platform delivers a better, branded on-line procuring expertise by integrating rewards and cashback affords straight into buyer journeys. With bank-grade safety and compliance, it’s a dependable resolution even in closely regulated industries. The customizable platform improves unit economics for companions, boosts buyer loyalty, and enhances customers’ funds.
We’re excited to again Wildfire as a result of they’re redefining how customers and companies join via rewards and e-commerce. What units Wildfire aside is its potential to seamlessly function throughout each desktop and cellular platforms, providing a really complete, frictionless resolution. This distinctive strategy has already attracted top-tier companions like RBC, Visa, Citi, Acorns, and Microsoft, with Wildfire now supporting over 50,000 on-line service provider applications globally.
Wildfire was based in 2017 by Jordan Glazier, who brings deep experience in scaling digital platforms from his roles as a former government at eBay and CEO of Eventful. Underneath his management, Wildfire has skilled speedy progress, and we’re assured that his imaginative and prescient and the workforce’s execution will proceed to drive unparalleled buyer loyalty and enhance income for companies. We imagine Wildfire is positioned to rework how corporations interact their prospects, and we’re thrilled to be a part of this journey as they form the way forward for on-line procuring and rewards.
Carlos Castellanos is an investor at Samsung Subsequent. Samsung Subsequent’s funding technique is restricted to its personal views and doesn’t replicate the imaginative and prescient or technique of every other Samsung enterprise unit, together with, however not restricted to, Samsung Electronics.
