Stockholm, Sweden: In January 2019, Wrapp Operations AB announced that it had been acquired by Meniga ltd, in a merging of business operations, to offer a new unified product for performance marketing solutions, Meniga Rewards.
With Meniga effectively acquiring Wrapp’s assets, people and customer contracts the merged businesses will operate solely under the Meniga brand from September 2019.
With a combined customer base of approximately 75 banking clients and retailers, including Lyko, Nelly, Panini, and Royal Design amongst others, the joint entity is now the largest transaction and performance-driven rewards platform in the Nordics.
Current Wrapp customers in Sweden and Finland will continue to benefit from the existing services, as the Wrapp brand gradually transitions into Meniga over the summer months. After this point onwards the offering will be expanded to include an enhanced transaction-driven rewards platform, operating from Stockholm and Helsinki.
With Wrapp and Meniga merging their respective technology and teams into one streamlined solution under the Meniga banner, the objective is to create one all-encompassing transaction-driven rewards platform that will feed on the banks’ transaction data.
This will help the banks stay relevant in an increasingly competitive banking sector, provide retailers with a highly accurate data-driven tool that will magnify the performance of their marketing campaigns, and, most importantly, add value to the purchases the banks’ customers will make.
Georg Ludviksson, CEO and co-founder of Meniga comments:
“Merging our two brands into one unified solution under the Meniga banner is the next exciting step of our journey. It’s been fantastic to see how now combining our teams and assets is providing us with unrivalled insight and expertise, and, we have already begun work to develop products that we are certain will excite not only our customers but also the end-users. With strategic bank shareholders including Nordea and Swedbank on board we feel confident in our work to build a unified platform that will make us a market leader of transaction driven rewards.”
Aage Reerslev, VP of Rewards at Meniga and former CEO of Wrapp comments:
“We believe that this merger is a defining moment for transaction-driven rewards, especially given the strong commitment of the existing banking partners on our platform. The time is ripe for a substantial investment into transaction-driven marketing which has proven to deliver the relevance modern consumers demand and to drive the engagement retailers and banks are after”.
Wrapp offers retailers an advertising platform through which they can send highly personalized rewards to their customers in order to boost the loyalty to their brand. Wrapp utilizes the card-transaction data of the retailers’ customers to provide them highly detailed market intelligence and information on buying behavior. In December 2018 Wrapp was aqquired by Meniga, and the merger process is ongoing. The ambition is clear, to create a powerhouse in Fintech who stands on multipule business legs where Rewards Marketing and Real-time transaction data will be the key ingredients in the Performance Marketing offer.