Updated: Aug 28, 2022
By Ritvik Vanukuru
Google has recently backed Twid, an Indian startup that provides a reward-based payment platform. Its main motive is to scale its network and expand merchants and issuers in the South Asian market with the $12 million received from Google.
The series A round, led by Rakuten Capital, had participation from existing investors such as Sequoia Surge and Beenext.
Twid, a Bengaluru-based company founded by Rishi Batra and Amit Sharma in 2020, allows customers to pay for offline and online stores using their loyalty reward points from banks, fintech platforms, and e-commerce markets. Some of the key reward point issuers for Twid users are IndusInd Bank, Payback, and Intermiles. It also has an integrated platform system with payment gateways like PayU and Razorpay.