| | SEPTEMBER 20229Payment solutions platform Twid on Wednesday announced its Series-A funding of $12 million led by Rakuten Capital and backed by Google and Sequoia India. Founded in 2020 by Amit Koshal, Rishi Batra, and Amit Sharma, Twid combines multi-ple loyalty/reward points across issuers such as banks, fintech firms, and retail/e-Commerce brands.It allows consumers to pay at offline and online stores with a aone-click-checkout' experience using their reward points. "Customers are able to stay updat-ed with their points and are able to save, earn and pay every time when using aPay with Rewards", said Amit Koshal, Founder & CEO, Twid.This investment will accelerate our next phase of growth, further strengthening our innovations, prod-uct and offerings, he added. The funding round also saw participation from ICMG Partners, JAFCO Asia, January Capital, Reddy Futures Fund with existing in-vestors BEENEXT.Sunil Gopinath, CEO of Rakuten India, will join the Twid board of directors on behalf of Rakuten Capital. "Rakuten Capital sees tremendous potential and fu-ture synergies in this investment", said Gopinath. Twid works with JioMart, NetMeds, Yatra, Gaana, Wakefit, ConfirmTKT, Ixigo, PAYBACK, InterMiles, IndusInd Bank, PayU, Juspay and many more.With over 40 million registered users and more than 50,000 live merchants, Twid also provides access to over $2 billion in reward points pool with its issu-er partners and processes over five percent of digital transactions for its merchant partners. Google Invests in Indian Payment Solutions TwidIN FOCUSCustomers are able to stay updated with their points and are able to save, earn and pay every time when using aPay with Rewards
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