Mumbai, India, March 13, 2023
Recent news articles suggest that Silicon Valley Bank is still an investor in Loylty Rewardz Mngt. Pvt. Ltd. among other Indian start-ups. Loylty has refuted this information stating it as outdated and inaccurate. According to Loylty Rewardz, while SVB was one of their former investors, they currently hold no stake in the company.
“Since our foundation in 2008, we have had investors who supported our vision and growth. We are a wholly-owned subsidiary of IndiaIdeas.com Ltd. better known as The BillDesk Group. Our former investors, including SVB, hold no investments in the company currently. We confirm that any recent news article or press release indicating otherwise is inaccurate and hope this addresses any confusion arising thereof,” said Amresh Acharya, Managing Director & CEO of Loylty Rewardz Mngt. Pvt. Ltd.
Loylty Rewardz is one of the foremost loyalty and engagement companies that caters to some of the country’s leading banks and brands. In 2015, they were acquired by IndiaIdeas.com Ltd., better known as The BillDesk Group.
About Loylty Rewardz
Loylty Rewardz is India’s premier loyalty and consumer engagement company that offers enhanced customer experiences through end-to-end loyalty solutions. Loylty is headquartered in Mumbai, with 400+ employees and a clientele of 25+ banks and 60+ brands across the country. Visit https://loylty.com to know more.
About BillDesk Group
BillDesk is India’s leading payments solutions provider with an aim to make digital payments easy and accessible to merchants, financial institutions and governments with technology and integrated solutions. For over two decades now, BillDesk has been the driving force behind digital payments and digital commerce in India. Visit www.billdesk.com to know more.