In brief: Australia rewards startup snags $1m seed funding

• Australia-based rewards startup OpenSparkz has secured A$1.5 million (US$1.06 million) in a second seed funding round, which was led Singapore-based private investor Louise Daley, deputy chief of Accor Hotels Asia Pacific. The round also included additional contributions from the co-founders and an existing backer.
• OpenSparkz is a platform-as-a-service that allows consumers to consolidate multiple loyalty and points programs.
• The company plans to use the fresh capital to bankroll its product development and scale up its business. It is currently in talks with a “major shopping mall in Asia” and plans to launch the first wave of its program mid-2019.
• OpenSparkz will consider a series A fundraising with a target of US$5 million to further fuel its expansion throughout Asia later in the year.

Source: SmartCompany