Credit card rewards are hard to get. Signing up for notifications on which purchases qualify is something you might have to do. Pick the best card when you're ready to make a purchase and make the most of your wallet.
The company developed a free extension for a digital wallet that holds all of your cards and then calculates the rewards and benefits for each purchase and recommends the right card, which could be a store card, to help you apply for it.
A few years ago, Tikue Anazodo and Ahmad Ismail founded the company. Anazodo, who was previously a product lead for Affirm, was the product lead for Google Pay, which launched in international markets and to over 300,000 merchants.
The driver for Kudos was bad, according to Anazodo. He used to get integrations between the company he was with and the retailer, but not much on how the end user would benefit.
Billions of dollars are locked to credit cards, but the consumer experience wasn't good. I wanted to take the first principles approach when it came to shopping.
Credit card recommendations are good.
He said that a prototype was being worked on to manage the entire checkout.
The company, which exhibited as part of the Battlefield 200 at TC Disrupt, received $7 million in seed funding from investors, including Patron, QED investors, and a group of over 40 angel investors. The official launch of its mobile desktop browser extension and app can be seen here.
Anazodo said that it was intentional that Kudos didn't have a wait list. The company has grown organically. The company is growing at a rate of 36% month over month.
He said there was no reason to uninstall because they showed up whenever they shop. We are doubling down on capabilities and features that will drive growth, as well as doing more product-led growth, such as the ability to share wallet.
Sleek wants to be the last shopping check-out form you ever fill out
Anazodo said that the company makes money from affiliates when consumers finish applications and from merchants when there are cash-back rewards.
Kard, Power, Bilt, and MaxRewards are also in this space, but Anazodo says they are competing with big players. He noted that Sleek is taking a similar consumer-centered approach.
He thinks that Kudos focuses on capabilities like ubiquity and consumer earnings. The smart wallet should work everywhere, rather than depend on integrations and make transparent rewards and benefits that are otherwise hidden.
Merchant integration dependency is the biggest crutch to scaling a consumer focused wallet, which is why Bolt and Fast require significant capital to get merchant support. CVV is included in the initial product that provides a very streamlined autofill experience.
Consumers will be able to stack reward earnings when the company launches a cash-back feature this holiday season. In the next six months, Kudos will be growing its team of 11 as it works to improve the product and acquire customers.
Checkout is the key to frictionless B2B e-commerce
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