Funding

Ribbit.me raises $1.5M

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What does Ribbit.me do?

Ribbit.me, is a New York based blockchain technology startup. It is the world’s first global coalition and branded Loyalty Network built on the blockchain technology. The Loyalty network eliminates transactional and structural friction and offer program operators an improved liability management via smart contracts and provides consumers more option for redemption. The company’s 3 components to the business model are:

  1. RibbitRewards Digital Wallet- to store and exchange digital loyalty
  2. Loyalty Network- to issue digital loyalty
  3. Marketplace life- to spend digital loyalty.

The blockchain platform is very efficient, has a distributed ledger protocol, dynamic value storage and a transfer platform. The digital wallet is completely client side and an in browser with the support for digital loyalty and multiple digital currencies. The marketplace is free for use where individuals and merchants can buy or sell services and good directly over p2p.Those  who shop at any of the participating merchant globally earn coalition program RibbitRewards directly from the Loyalty Network, can get totally free of cost to the merchant. Merchants who want to build a branded program can do so directly from the Loyalty Network, through patent pending infrastructure.

How much Ribbit.me was funded?

The company raised$1.5M on February 26, 2016 from Hayaat Group.

What is next for Ribbit.me?                 

The funding will help the company in accelerating development by the expansion of their team as more and more behavior incentification opportunities are rising beyond the traditional model.

More about Ribbit.me

The company was founded  on February 7, 2014 by Gregory Simon. It has its headquarters in New York, New York. The company is reinventing how loyalty is created and rewarded. It has built the world’s first loyalty and rewards industry using smart contract and blockchain technology.  The company’s vision is to eliminate the friction preventing program operators from working together in redemption networks.

 

 

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