Introduction to Stocard
Do you ever find yourself rummaging through your purse or wallet to find that one elusive loyalty card you need to redeem your rewards? Stocard, a mobile wallet application, solves this problem by digitizing your loyalty cards and storing them all in one place.
In this article, we’ll explore how Stocard works, its founding story, and the benefits of using it.
How Stocard Works
Stocard allows you to digitize your loyalty cards by scanning the barcode on the physical card or manually adding the card information. The app stores the card information, including the barcode and card number, on your mobile device.
When you’re ready to use the loyalty card, simply open the Stocard app and present the digital barcode to the cashier. The cashier scans the digital barcode, and you’re good to go!
Stocard also offers additional features, such as the ability to add gift cards, create a shopping list, and receive notifications of sales and promotions from your favorite stores.
The app is free to use, and it is available for download on both iOS and Android devices.
Founding Story of Stocard
Stocard was founded in 2011 by Bjrn Go, David Handlos, and Florian Barth while they were attending the University of Mannheim in Germany. The trio was frustrated with the clutter of loyalty cards in their wallets and came up with the idea of digitizing them on their mobile phones.
The founders created a business plan and launched the Stocard app in 2012. They initially targeted the German market before expanding to other countries, including the United States and Australia.
Today, Stocard has over 50 million users worldwide and has partnered with thousands of retailers.
Benefits of Using Stocard
Stocard offers several benefits to its users. One of the primary benefits is the convenience of having all your loyalty cards in one place.
With Stocard, you don’t have to worry about carrying a bulky wallet or searching for the right loyalty card. All you need is your mobile device and the Stocard app.
Using Stocard also helps to reduce waste by eliminating the need for physical cards. Digitizing your loyalty cards means there is less plastic waste and fewer trees cut down for card production.
Stocard also encourages its users to recycle their physical loyalty cards by providing a recycling program in partnership with TerraCycle. Another benefit of using Stocard is the addition of features that enhance your shopping experience.
The app allows you to create a shopping list and receive notifications of sales and promotions from your favorite stores. You can also add gift cards to the app, making it easier to keep track of your balances and redeem them at the store.
Conclusion
In conclusion, Stocard is a mobile wallet application that digitizes your loyalty cards, making it easier to keep track of them and reduce plastic waste. The app was founded in 2012 by Bjrn Go, David Handlos, and Florian Barth, who were frustrated with the clutter of loyalty cards in their wallets.
Stocard offers several benefits, including convenience, environmental sustainability, and additional features that enhance your shopping experience. Try Stocard today and see how it can simplify your shopping experience!
Growth of Stocard
Stocard, the mobile wallet application that digitizes loyalty cards, launched in 2012 and experienced early traction. In its first six months, the app had over 130,000 downloads and 425,000 members.
This initial success allowed the company to secure $850,000 in seed round funding to invest in future growth. Stocard’s growth continued through word-of-mouth as satisfied users shared the app with friends and family.
By 2015, Stocard had seven million users, a number that has since grown at an exponential rate. The company expanded into European markets, including France, Italy, and Spain, and has partnerships with over 3,000 retailers.
To fuel its growth, Stocard secured $4 million in funding from US-based investors in 2016. This funding allowed the company to continue its international expansion, establish partnerships with additional retailers, and further develop the app’s features and functionality.
Stocard’s Ambitions
Stocard’s ambitions have expanded beyond digitizing loyalty cards. In recent years, the company has made a transition to facilitating payments through its app.
This transition has been made possible through partnerships with payment providers such as Wirecard. Stocard’s payment feature has added cashback rewards for users, with discounts offered when purchasing products from selected retailers.
Through its partnership with Wirecard, Stocard’s mobile wallet allows users to pay for goods and services at retailers that accept contactless payments. Stocard’s payment feature has been integrated into its existing mobile wallet, enabling users to earn rewards on their purchases and making the checkout process quicker and more convenient.
This transition to facilitating payments is a logical step for Stocard, as it allows the company to continue to simplify and streamline the shopping experience for its users. Stocard has also entered into a partnership with Klarna, a Buy Now Pay Later (BNPL) provider.
Klarna’s BNPL feature allows users to buy products and pay for them later in installments. Through its partnership with Stocard, Klarna will now offer a loyalty program that rewards users for purchases made via the BNPL feature.
This partnership aligns with Stocard’s ambition to add value to its users and expand beyond the digitization of loyalty cards. Furthermore, Klarna’s acquisition of Stocard in July 2021 has enabled further expansion into the BNPL market.
The acquisition will allow Stocard to leverage Klarna’s expertise in the BNPL space while maintaining its user-friendly approach to creating value for customers. This partnership will ultimately offer new capabilities to users through the integration of Stocard’s mobile wallet and Klarna’s BNPL feature.
Conclusion
Stocard has experienced remarkable growth since its launch in 2012. Early traction and positive word-of-mouth helped the company secure seed round funding and expand into European markets.
The company has since continued to grow rapidly, with over seven million users and partnerships with over 3,000 retailers. Stocard’s transition to facilitating payments and its recent partnership with Klarna demonstrates the company’s ambition to continue to add value to its users.
The acquisition by Klarna has enabled Stocard to leverage Klarna’s expertise in the BNPL space while maintaining its user-friendly approach. As the company continues to expand and improve its services, it will be interesting to see what new and innovative features they will offer in the future.
Stocard’s Revenue Streams
Stocard, the mobile wallet application that digitizes loyalty cards, generates revenue through various channels. One of the primary sources of revenue for Stocard is advertising.
Stocard offers an Offers section in the app that provides users with personalized deals and promotions from retailers. Retailers can also send push notifications to users promoting their sales and deals.
Stocard charges retailers a fee for these services and collects revenue from advertising. Stocard also generates revenue by aggregating data on its users.
The app collects location data and anonymized data on user behavior, which is then sold to marketers and advertisers. Stocard’s data is valuable to advertisers, as it allows them to target users with personalized and relevant advertisements.
Another source of revenue for Stocard is payment fees. The app offers a virtual debit card that allows users to make payments through the app at retailers that accept contactless payments.
Stocard collects interchange fees from retailers for each payment made through the app. The fees collected depend on the transaction amount and payment method used.
Stocard also generates revenue through strategic partnerships. The app’s partnerships with retailers and payment providers allow Stocard to expand its merchant base and offer a seamless integration of services.
Stocard offers its partners access to its large user base and provides personalized data on user behavior, allowing retailers to better target their customers. Stocard’s Funding and Valuation
Since its launch in 2012, Stocard has raised over $31.1 million in funding from notable investors, including Earlybird Venture Capital, Rocket Internet, and Macquarie Capital.
In its most recent funding round in 2020, Stocard raised $49 million, which will be used to further expand its services and facilitate international growth. Stocard’s valuation is estimated to be around $113 million, although the company has not disclosed its revenue figures.
Stocard’s primary focus has been on growth, and the company has reinvested its revenue into expanding its services and entering new markets. Stocard’s partnerships with major retailers and payment providers have allowed the company to expand its merchant base and increase its revenue potential.
As the company continues to grow, it will be interesting to see how its revenue streams evolve and what new partnerships and services it will offer to its users.
Conclusion
Stocard generates revenue through a variety of channels, including advertising, sale of aggregated data, payment fees, and strategic partnerships. Through its Offers section and push notifications, Stocard offers personalized deals to users and collects revenue from retailers.
The app’s payment feature allows Stocard to collect interchange fees from retailers, and its partnerships provide access to a large merchant base and personalized data on user behavior. Stocard has raised over $31.1 million in funding from notable investors and has a valuation of approximately $113 million.
Its continued growth and expansion into international markets will likely result in increased revenue potential. As Stocard continues to innovate and develop new services, it will be interesting to see how its revenue streams evolve.
In conclusion, Stocard has become a leading mobile wallet application that digitizes loyalty cards while also expanding into the facilitation of payments. The company generates revenue through advertising, sale of aggregated data, payment fees, and strategic partnerships.
Stocard has raised over $31.1 million in funding from notable investors and has a valuation of around $113 million. As the company continues to expand and innovate, it has the potential to revolutionize the shopping experience for millions of users.
Overall, Stocard’s success highlights the importance of streamlining the shopping experience, reducing waste, and personalizing marketing efforts to provide value to customers.