Superlogic, a startup that helps give shoppers a solution to apply rewards factors towards experiences, has raised $13.7 million at a $200 million valuation, the corporate tells TechCrunch completely.
Lin Dai, CEO and co-founder of Miami-based Superlogic, stated his firm’s expertise is designed to “improve the worth of rewards factors” by giving shoppers a broader vary of choices in easy methods to use them. Its platform plugs straight into current loyalty applications for bank card corporations, airways, and retailers.
Superlogic companions with manufacturers to assist provide shoppers what Dai described as “a catalog of experiences” that customers can select from as a substitute of conventional points-based rewards, akin to a resort keep or industrial flight. Examples embrace NBA Finals tickets, “unique” tickets to music festivals, a behind-the-scenes take a look at a Broadway manufacturing, or personal eating with prime cooks
As a result of its providing is white-label, you received’t essentially know you’re utilizing Superlogic’s expertise if you redeem the rewards via corporations akin to American Categorical, Mastercard, Visa, and Warner Music. The platform additionally manages the stock of experiences, negotiates with suppliers, and handles funds on behalf of the manufacturers it really works with.
Whereas Dai declined to reveal arduous income figures, he did say the corporate notched “eight-figure-plus” income in 2024 and noticed “vital progress year-over-year.”
Many individuals don’t notice that unused rewards/factors might be thought-about a legal responsibility for a bank card firm.
When a client earns factors again on a purchase order, that cash technically belongs to the buyer, Dai explains.
“So then it’s cash that the bank card firm, for instance, owes the buyer,” he stated. “For each 100 factors, there’s about $1 that the rewards firm needed to put apart to again that debt to their very own clients… and say if a Fortune 500 model goes bankrupt, these factors really have to be paid out to the buyer.”
In different phrases, it’s in an organization’s greatest curiosity to have shoppers money in on these factors.
Superlogic makes cash by taking what Dai described as a “small margin proportion” on the transactions of when a client redeems factors for an expertise it helped facilitate.
“There are $25 billion price of unredeemed factors sitting on person accounts and bank cards applications’ steadiness sheets,” he instructed TechCrunch. “Our TAM may be very excessive.”
Powerledger led the spherical, which was structured as a SAFE. Sangha Capital, 10SQ, Nima Capital, Actai Unicorn Fund, Hyla Liquid Enterprise Fund, and Liquid 2 Ventures additionally participated. Earlier buyers embrace Amex Ventures, Warner Music, Galaxy Interactive, Mirabaud Way of life Influence and Innovation, Recharge Capital, Dispersion Capital, and Sanctor Capital, amongst others. The capital infusion brings Superlogic’s complete fairness funding to greater than $21 million since its 2017 inception.
Jemma Inexperienced, govt chairman of Powerledger, instructed TechCrunch that her agency invested in Superlogic as a result of it helps manufacturers keep away from “exorbitant” sponsorship charges and “signal hundreds of offers with experiential suppliers to supply VIP experiences at scale to their most loyal clients.”
She added: “This skill to interact shoppers powerfully with minimal value and complexity is known as a recreation changer.”
Presently, Superlogic has slightly below 40 workers.
The corporate plans to make use of the brand new capital towards its launch with about half a dozen applications this yr — ramping up employees, operations, and product capabilities, Dai stated, “to assist the anticipated new quantity.”
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