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Joko raises a €10 million Series A!
Oct. 8, 2020
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Joko, a leading cashback app that rewards its users when they spend, announced it raised €10 million in a new Series A funding round in which Partech has reinvested. We are happy to continue supporting them, as we have done since 2019.
At Joko, they are on a mission to reinvent loyalty cards. They brought simplicity and gamification to create a customized experience that consumers want. Joko has been downloaded over half a million times on App Store and Google Play store which highlights the desire to benefit from their cashback offers. Not only is Joko attracting interest from its users, but retailers too, with over 1,000 retailers partnering with Joko to reward their loyal customers.
"Our mission at Joko", says Xavier Starkloff, co-founder and CEO of Joko, "is to make everyone's life more rewarding, and make sure that part of their spending "goes back into their pockets". If we were already convinced that everyone, everywhere and at all ages, likes to be rewarded, the current context and the uncertainty that can weigh on the purchasing power of the French has only strengthened our value proposition. Our users tell us that the additional income generated by Joko makes a clear and appreciated difference in their daily lives".
Joko has convinced a wide variety of retailers that have signed up, such as Carrefour, H&M, Asos, Apple and Nike. This new funding will be used to strengthen their position in France to become the market leader and expand across Europe . To achieve that, Joko will scale up its workforce from their current team of 25. There are positions open across all teams: Tech, Product, Marketing, Support, Sales, Operations, Account Management, etc. It really is an exciting time to be part of the Joko team.
”Joko is a pure execution play in a competitive and crowded market, but we believe we have found the best team to execute it. The velocity is key to catch this huge opportunity that’s why we believe they needed to raise a large series A round to get all the resources required to become the favorite rewarding app of all European consumers” said Alison Imbert, Principal at Partech.
We are proud to have Joko in our Portfolio and we cannot wait to watch them grow!