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June 07, 2012

LevelUp Raises $12 Million to Expand Mobile Payment Product

Levelup logo 140pxSCVNGR, the maker of LevelUp, announced that it has raised $12 million in funding with participation from existing investors Highland Capital Partners, Google Ventures, Balderton Capital and new investors Continental Investors and Transmedia Capital.

Launched by Boston-based SCVNGR in July 2011, LevelUp enables its users to pay with their phones by linking their credit or debit card to the app and scanning it at checkout. In turn, businesses on LevelUp are able to attract new customers with incentives while motivating them to become regular customers with loyalty rewards.

Federal Reserve Reports Consumer Credit for April 2012

FedThe US Federal Reserve has reported its latest G.19 Consumer Credit statistics - finding that "consumer credit increased at an annual rate of 3% in April. Revolving credit decreased at an annual rate of 4.75%, while nonrevolving credit increased at an annual rate of 7%."

Earlier this week, the Federal Reserve Board announced that it has restructured the G.19 Consumer Credit statistics to reflect regulatory filing changes for U.S.-chartered depository institutions among other things.

Headline News - June 7, 2012

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

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