Meniga has bought Wrapp, the retail rewards platform that had raised at least $34m from investors including Qualcomm, H&M, Klarna and American Express, in an all-share deal.
Mobile chipmaker Qualcomm, fashion retailer H&M, payment technology provider Klarna and payment services firm American Express have exited Sweden-based rewards platform Wrapp, in an acquisition by banking software producer Meniga.
The size of the transaction has not been disclosed but Ómar Þór Ómarsson, Meniga’s head of marketing, said in a blog post announcing the deal that Wrapp’s shareholders will receive shares in Meniga rather than cash.
Wrapp has created a service that links to a user’s phone to track their…
