Affinity Raises $14.5m for Innovation and Growth

New York-based Affinity Solutions - which analyzes consumer spending data to help clients with their targeted marketing initiatives - has completed a $14.5m round of funding, which it will use to finance product and technology innovation, and business development.

The company analyzes the spending patterns of around 60 million credit and debit cardholders and over five billion transactions each year, via partnerships with more than 4,000 banks and 25,000 retailers. Data is then dissected to identify patterns and trends, which feed into the planning of online and off-line targeted marketing initiatives.

The latest round of financing has been led by private equity firm Chestnut Hill Ventures, which focuses on consumer marketing and financial services companies.

Jonathan Silver, Affinity Solutions President and CEO, comments: 'This financing from Chestnut Hill represents an important milestone in the growth of Affinity Solutions, and a major step forward in accelerating adoption of our marketing technology solutions by the nation's leading banks and retailers.'

Web site: www.affinitysolutions.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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