Margin

I met my co-founder in March 2024 and together we started trying to solve a problem for both consumers and brands. His previous work in the credit industry highlighted the under-use of credit by Gen-Z consumers, due partly to a lack of relevant reward / loyalty schemes, while I knew from my work with consumer brands that high CAC and low retention rate is a problem across the industry.

We set out to build a credit card for Gen-Z consumers in the US that not only provided them with a more relevant selection of rewards than legacy players like Amex and Chase, but that also allowed D2C brands to build loyalty directly with their consumer rather. By allowing brands to directly target the most relevant consumers (based on anonymised spend data that they otherwise wouldn't have access to) with relevant rewards or offers, we were aiming to improve conversion and lower CAC.

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In the months leading up to our fundraise efforts, my main role was in sales outreach to secure brand partners to provide rewards to the future card users. I secured a fragrance brand and a skincare brand, with further indications of interest from a coffee company, food service chain and a hotel chain. However, most notably we spent months in discussions with a prominent airline to (i) provide miles rewards to our future users, as well as, (ii) to develop a co-branded card alongside them.

Unfortunately - despite a 4 month process - our fundraising efforts stalled and we were unable to raise the $5m Seed round we needed to continue building out the tech and secure our partner bank in the US, meaning that it was not viable for us to continue.