In a recent article, Forbes profiled card-linked offers company Cardlytics, citing a number of stats about the five-year-old startup’s growth:
- Has a view into 70% of U.S. bank customers
- Serves 1 billion ads per month to an audience of more than 35 million customers
- Powers the merchant-funded rewards platform of 400 banks, including Bank of America, PNC, Regions, and Lloyds. Across all 400 banks, Cardlytics drives $500 million in sales every quarter.
- Claims to hold 80% of the merchant-funded rewards market, which is growing at 100% per year.
- Has servers that, this year alone, have read 11 billion transactions that total $500 billion in spending
- Anticipates grossing $50 million in revenue this year, $25 million in Q4 alone. Its revenue has grown 4x over last year.
- Has raised $104 million
Last year Bank of America launched BankAmeriDeals, which is powered by Cardlytics. So far, the program has saved customers $17 million, and the deals have generated $700 million in sales.
What if all of this growth slows to a stop? Lynne Laube, President and COO of Cardlytics, commented on other potential revenue streams. She receives many calls from companies such as hedge funds seeking to use Cardlytics’ data. This new revenue stream, however, could only be tapped if banks allow Cardlytics to use the data.
To learn more about Cardlytics, check out its demo video from FinovateFall 2013, where it debuted its geolocation application.