Paris-based startup 10% develops a cashback app that rewards users 10% on purchases and provides brands with customer data, has raised €2.4 million in a seed funding round to scale a new infrastructure for loyalty, data, and media in FMCG.
- Established in 2024 by Clémence Luc and Max Lemasquerier, 10% develops a free cashback app that refunds users 10% on everyday purchases from major supermarkets, pharmacies, and e-commerce platforms.
- 10% works by partnering with brands and retailers, users select eligible products in the app, shop as usual, and then submit proof of purchase through the app or email. The app then credits 10% cashback to the user’s account. The platform also provides brands with direct access to consumer data and a more efficient way to reward loyalty, replacing traditional, fragmented loyalty programs.
- In under a year, the startup has launched the app with over 300k downloads, partnered with more than 25 brands, and gone live with major retailers, aiming to make loyalty simple, rewarding, and measurable for both shoppers and brands.
Details of the deal
- The investment was backed by Austrian firm Speedinvest and French firms True., Techmind, Fund F, Kima Ventures, along with French angel investors including Frédéric Halley.
- The fresh capital will enable the firm to accelerate its technology development, expand its user and brand reach, and build a new data and media infrastructure that empowers FMCG brands to directly engage and reward their loyal customers.
