TWID Raises $2.5M In A Funding Round Led By BEENEXT, Sequoia’s Surge And Others

• ByStartupStory     |    July 5, 2021

TWID (That’s What I Do), a reward-based platform network has raised $2.5 million led by BEENEXT and Sequoia Capital India’s Surge. The round also saw involvement from angel investors Rajul Garg, Kunal Shah, and YourNest India.TWID was established in October 2020 by Amit Sharma, Amit Koshal, and Rishi Batra. Amit Koshal and Amit Sharma both held leadership positions at Intuit, while Rishi led investments at Bennett Coleman and Company (The Times Group).

The startup has its headquarters in India and Singapore; connects customers with merchants to pay with points earned from a “Point Issuer” program. The platform empowers acquirers, banks, brands, and customers to make their program completely business viable and employ a contactless payment mode for offline payments or as a checkout option on online merchants using “Pay with Rewards.” Its ‘Pay with Rewards’ platform has worked with brands like PayU, Jiomart, TimesPoint, NPCI’s nth Rewards, IndusInd Bank, and more, and has been used for over one million transactions within the first six months of launch.

Amit Koshal, Co-founder, TWID, said, “With our wide network of issuers, merchants, brands, and consumers, TWID injects life and liquidity into the current payments ecosystem, bringing about a greater volume of transactions than before. The value of the network only grows with each additional brand we partner with, and we look forward to making the network even more profitable in the near future.” TWID is part of Surge’s fifth cohort of 23 companies that have helped companies and individuals in providing new digital solutions to work, live, and learn better in a fast growing post-pandemic world.

Follow Startup Story