Superlogic, a startup that helps give shoppers a strategy to apply rewards factors towards experiences, has raised $13.7 million at a $200 million valuation, the corporate tells Fintech solely.
Lin Dai, CEO and co-founder of Miami-based Superlogic, mentioned his firm’s know-how is designed to “improve the worth of rewards factors” by giving shoppers a broader vary of choices in the way to use them. Its platform plugs immediately into present loyalty packages 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, comparable to a resort keep or industrial flight. Examples embody 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 gained’t essentially know you’re utilizing Superlogic’s know-how whenever you redeem the rewards by corporations comparable 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 laborious income figures, he did say the corporate notched “eight-figure-plus” income in 2024 and noticed “vital development year-over-year.”
Many individuals don’t understand that unused rewards/factors could be thought of a legal responsibility for a bank card firm.
When a client earns factors again on a purchase order, that cash technically belongs to the patron, Dai explains.
“So then it’s cash that the bank card firm, for instance, owes the patron,” he mentioned. “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 truly have to be paid out to the patron.”
In different phrases, it’s in an organization’s finest curiosity to have shoppers money in on these factors.
Superlogic makes cash by taking what Dai described as a “small margin share” on the transactions of when a client redeems factors for an expertise it helped facilitate.
“There are $25 billion value of unredeemed factors sitting on consumer accounts and bank cards packages’ steadiness sheets,” he advised Fintech. “Our TAM could 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 embody Amex Ventures, Warner Music, Galaxy Interactive, Mirabaud Life-style Affect 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, government chairman of Powerledger, advised Fintech that her agency invested in Superlogic as a result of it helps manufacturers keep away from “exorbitant” sponsorship charges and “signal 1000’s of offers with experiential suppliers to supply VIP experiences at scale to their most loyal clients.”
She added: “This capability to have interaction shoppers powerfully with minimal value and complexity can be a recreation changer.”
Presently, Superlogic has slightly below 40 staff.
The corporate plans to make use of the brand new capital towards its launch with about half a dozen packages this yr — ramping up workers, operations, and product capabilities, Dai mentioned, “to help the anticipated new quantity.”
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