SanomaVentures will exit the Netherlands-based cash rewards platform developer, which has been purchased for an undisclosed sum by its peer, Bonusway.

Finland-headquartered shopping rewards provider Bonusway has acquired Ippies, a Netherlands-based peer backed by media group Sanoma, for an undisclosed amount, Emerce reported yesterday.

Founded in 2007, Ippies runs a savings scheme for online shoppers in the Netherlands and Belgium allowing users to shop on more than 2,000 e-commerce platforms with their Ippie points, which are accumulated with each purchase and which correspond to €0.01 per unit.

Aliexpress, Booking.com, Expedia, Hema, MediaMarkt, Nike and Vodafone are among Ippies’ affiliated partners. The…

Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.