Bluestone.vc, a Vancouver-based venture capital firm, announced yesterday its investment in Vancouver’s MoneyBar Rewards Inc.
MoneyBar is an online loyalty and rewards platform that allows businesses and retailers to design and execute customer transaction, engagement and retention strategies.
As part of the investment, Tyler Nelson will join MoneyBar as chairman and CEO.
Nelson is former chairman and CEO of Adenyo, a Toronto-based mobile marketing and advertising technology company. He helped raise $20 million in growth capital for the company and oversaw its eventual sale for $100 million.
Nelson said, “It’s remarkable that 20 years of rapid technology innovation in web, mobile, social marketing and cloud computing have yet to trickle down, in a meaningful way, to the local merchant marketplace.”
Financial terms of the investment were not disclosed.
Jennifer Harrison
@JHarrisonBIV