Kudos raises $7M to recommend the right credit card for shopping rewards
Summary
Much of his previous work was getting integrations between the company he was with and the retailer or merchant but not so much on how the end user would benefit.There are billions locked to credit cards, but the consumer experience was always lacking, he added. This also serves as the official launch of its mobile desktop browser extension and app.Kudos had been in beta the past three months and didnt have a waitlist, something Anazodo said was intentional. We are doubling down on capabilities and features that will drive growth, and we are also going to be doing more product-led growth, such as the ability to share wallets.Kudos makes money from affiliate fees when consumers finish applications and also gets some from merchants when there are cash-back rewards, sharing those with consumers, Anazodo said.There are startups like Kard, Power, Bilt Rewards and MaxRewards also playing in this space, but Anazodo says Kudos is competing more with big players like Bolt, PayPal, Google Pay and Apple Pay. And even Sleek, which he noted is taking a similar consumer-centric approach with no merchant integration dependency.How he believes Kudos differs is its focus on capabilities like ubiquity and consumer earnings. Our initial product provides a very streamlined autofill experience, including CVV, on over 1 million sites.Next up, this holiday season the company will launch a cash-back feature across over 12,000 merchant partners so that consumers can stack reward earnings.