Koree is a financial application that enables users to create digital loyalty cards, allowing them to earn cashback on purchases and automatically credit spare change to their loyalty balance. This solution addresses the inconvenience of managing physical change and enhances the shopping experience by facilitating seamless payments with accumulated rewards.
Funding
$390K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
TAFounders
Product
Problem
Many consumers in Africa lack access to convenient digital tools for managing loyalty cards and receiving cashback rewards, leading to missed savings opportunities and cumbersome experiences with physical cards and change. Traditional loyalty programs often fail to integrate seamlessly with digital payment methods, creating friction for both consumers and merchants.
Solution
Koree is a mobile application designed to streamline loyalty programs and cashback rewards for consumers in Africa. The app allows users to create digital loyalty cards for their favorite stores, automatically earn cashback on purchases, and consolidate spare change onto their loyalty balances. By scanning a QR code at checkout, users can receive cashback and have their change digitally added to their account, which can then be used for future purchases within the app's network of partner merchants.
Target Audience
The primary target audience includes consumers in Africa who frequently shop at local merchants and are looking for a convenient way to manage loyalty rewards and earn cashback on their purchases.
Features
- Digital loyalty card creation by scanning merchant QR codes or manual ID entry
- Automatic cashback earnings on purchases at partner stores
- Instant crediting of spare change to the user's digital loyalty card
- In-app payments using accumulated cashback and loyalty balances
- Real-time tracking of cashback earnings and loyalty balances
- Exclusive access to special promotions and offers
- Referral program that rewards users for inviting friends
- Integration with mobile money platforms like Orange Money and MTN MoMo for easy cashback withdrawals