Wildfire Systems Announces Strategic Investment from Citi Ventures

Investment supports the continuing innovation and expansion of Wildfire's white-label shopping rewards platform

SAN DIEGO, Oct. 25, 2022 /PRNewswire/ -- Wildfire Systems Inc., an innovative fintech platform that powers white-label reward programs and shopping companions, today announced that it has secured a strategic investment from Citi Ventures. The funding will support Wildfire's technological innovation and continued ability to deploy new features that will drive rewarding online shopping experiences for consumers worldwide.

Wildfire Systems' enterprise platform enables partners to embed social commerce, rewards, and cashback offerings within their existing services. Its patented suite of technologies rewards online shopping and harnesses digital word-of-mouth, delivering enhanced user experiences, consumer loyalty, and new revenue streams for partners. By harnessing word-of-mouth recommendations, Wildfire drives incremental revenue for over 30,000 online merchants including 1800-flowers, Dell, Macy’s, and Sephora. (PRNewsfoto/Wildfire Systems)
Wildfire Systems' enterprise platform enables partners to embed social commerce, rewards, and cashback offerings within their existing services. Its patented suite of technologies rewards online shopping and harnesses digital word-of-mouth, delivering enhanced user experiences, consumer loyalty, and new revenue streams for partners. By harnessing word-of-mouth recommendations, Wildfire drives incremental revenue for over 30,000 online merchants including 1800-flowers, Dell, Macy’s, and Sephora. (PRNewsfoto/Wildfire Systems)

The company's white-label, turnkey offering enables partners — which include financial institutions (FIs), telecom leaders, and technology companies — to provide their customers with cashback rewards, digital coupons and other benefits when they shop at thousands of online merchants.

"Wildfire is a leading player at the intersection of embedded finance, e-commerce, rewards, and loyalty," said Luis Valdich, Managing Director & Head of Fintech Investing at Citi Ventures. "We are excited to invest in Wildfire given its strong market traction and vast potential to help financial services firms drive revenue, engagement, customer acquisition and retention."

"We are thrilled by Citi Ventures' investment in Wildfire. As an investor in several successful consumer fintech startups — including Honey, which was acquired by PayPal in 2019 — Citi Ventures really understands our business and appreciates our value proposition," said Jordan Glazier, CEO of Wildfire Systems. "I look forward to working with the Citi Ventures team to continue to grow our business."

Wildfire has received $24.5 million in venture investment to date, including this new investment from Citi Ventures. The company announced a $15 million Series A round in August 2021, co-led by TTV Capital and QED Investors. Other investors include Mucker Capital, Bonfire Ventures, Moonshots Capital, B Capital, and BAM Ventures.

Wildfire continues to establish partnerships with many of the world's leading financial services organizations. Recently the company announced a partnership with Visa, the world leader in digital payments. Wildfire's platform will power Visa's new Visa Affiliate Marketing Solutions (VAMS) program, providing Visa's vast network of card issuers with a rich set of benefits they'll deliver to consumers with the most advanced and comprehensive shopping rewards solution on the market today.

For more information on Wildfire Systems' white-label rewards platform, please visit https://www.wildfire-corp.com.

About Wildfire Systems, Inc.
Wildfire Systems provides an enterprise platform which enables clients to embed social commerce, cashback rewards, digital coupons, and shopping companions within their existing services. Wildfire's patented suite of technologies rewards online shopping and harnesses digital word-of-mouth, delivering enhanced user experiences, consumer loyalty, and new revenue streams for clients. Wildfire drives incremental revenue for over 50,000 online merchant programs in over 50 countries. The company is based in San Diego and was founded in 2017. For more information, visit www.wildfire-corp.com.

About Citi Ventures
Citi Ventures catalyzes innovation and accelerates growth in the tech and financial services ecosystems. The group invests in and partners with category-defining startups with the potential to augment and enhance Citi's products and services, and works with Citi colleagues, clients, and the innovation ecosystem to experiment with next-generation technologies and develop new products and services that respond to the changing landscape of the 21st century. Since its founding in 2010, the team has invested in over 100 startups across seven focus areas, from Fintech to DLT & Digital Assets. For more information, visit https://www.citi.com/ventures.

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SOURCE Wildfire Systems