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Dosh extended its product offering last year by permitting financial institutions, neo-banks, and fintech companies to deploy its platform in their digital channels rapidly.
“Dosh’s technology is extremely complementary to the long-term financial institution integrations and substantial scale we’ve built over the past 13 years. With the addition of Dosh, Cardlytics will accelerate its ongoing efforts to improve the advertising industry through our brand-safe alternative, which provides superior returns based on actual purchases. This creates real value for consumers, advertisers, and our bank partners,” said Cardlytics CEO Lynne Laube.
With the combination of the scale of Cardlytics’ advertising platform with an audience of over 163 million monthly active users alongside Dosh’s innovation, the companies will offer the advertisers the ability to engage with consumers through the global financial institutions, neo-banks, and fintech companies.
“Dosh is focused on delivering an engaging cashback experience for consumers on behalf of advertisers and fintech partners,” said Dosh CEO Ryan Wuerch. “Combining our technology with Cardlytics’ scale, we have an opportunity to drive significant revenue for our advertisers while putting money back in the wallets of consumers,” added Wuerch.
Cardlytics enables marketers in customer acquisition and driving loyalty inside the banks’ fraud-free, brand-safe online and mobile channels. The company has provided over $500 million in cashback to date.
BofA Securities is the financial advisor with Cooley LLP as a legal advisor to Cardlytics.
Cardlytics’s cash and cash equivalents stood at $293.2 million as of December 31, 2020.
Price action: CDLX stock closed lower by 0.33% at $132.43 on Friday.
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