Fintech Upstreet bags $3 million for mission to transform brand loyalty programs

Private equity fund Wattle Hill Capital led Upstreet’s funding round, with other investors including Kelly+Partners, McKinsey & Co., Justus Hammer (CEO of MadPaws), Albert Tse (Founder of Wattle Hill Capital), Christopher Mapp (chair of Ominlab Media) and Hugh Robertson (Bell Potter).

Following an extended funding round Upstreet, which rewards customers with fractional shares every time they shop with the platform’s 400+ retail partners, will also use the capital to deliver co-marketed campaigns to new audiences and fuel its technology platform to open new investing opportunities.

“When COVID put the world on pause, that also made raising capital for a new venture more challenging,” Co-Founder of Upstreet Christian Eckleman said.

“Fortunately we’ve been able to showcase incredibly strong returns from our retail partners in a short period and proved our model is not only causing customers to shop more frequently with our partner brands, but customers are also spending more with these retailers.

“We want to fully democratise the world of the stock market and open new pathways for a new generation of investors. It’s a generation who aren’t waiting for the market to come to them and are embracing the idea that it’s a good thing to be invested – emotionally and financially – in the brands you believe in.”