Coinmiles Technology Ltd.

Coinmiles Technology Ltd. is a Canadian fintech platform designed to empower users by providing Bitcoin rewards for everyday purchases, enhancing the online shopping experience through innovative solutions. Founded in 2020 in Montreal, Canada, Coinmiles Technology Ltd. specializes in offering Bitcoin rewards for online and in-store purchases, enabling users to accumulate cryptocurrency alongside traditional loyalty points.

The company secured USD 0. 66 mn in funding from investors Brinc and Animoca Brands in February 2022, bringing its total amount raised to USD 0. 66 mn. Coinmiles has completed 1 deal to date.

Coinmiles offers a platform that allows users to earn Bitcoin rewards when shopping online, in-store, or traveling, presenting an alternative to traditional cashback programs. The service includes credit card payments to earn Bitcoin rewards on purchases, alongside loyalty points. Additionally, Coinmiles provides a virtual gift card service for immediate use at major retailers, boasting over 100 brands available in Canada, catering to more than 50,000 users interested in maximizing their cryptocurrency rewards. Coinmiles generates revenue through partnerships and transactions with retailers, allowing users to earn Bitcoin rewards by activating offers from participating brands.

This model incentivizes consumer spending at partner retailers, compensating Coinmiles through a shared commission structure. The company's unique offerings, including its Bitcoin rewards program and virtual gift cards, are pivotal in fostering relationships with consumers and retailers. Coinmiles plans to leverage its recent funding of USD 0. 66 mn to enhance its product offerings and expand into new markets.

The company aims to introduce new products, although specific details on upcoming launches have not been disclosed. Furthermore, Coinmiles is exploring opportunities for geographical expansion beyond Canada to reach new customer segments. The recent funding will support these initiatives, allowing for strategic growth and development within the fintech space.