News

Mobivity completes acquisition of Belly digital loyalty solution

November 16, 2018

Mobivity Holdings has completed its acquisition of digital loyalty solution Belly, expanding Mobivity's customer engagement platform to more than 2,000 retail locations, according to a press release.

The $3 million deal was funded with $2 million in cash and $1 million in debt. It expands the reach of Mobivity and its re-currency platform to more than 7 million loyalty members.

Similar to re-currency, Belly employs an SaaS-based monthly recurring revenue business model with most of its client base in brick-and-mortar industries, stated the release.

"Our re-currency platform drives mobile engagement to more than one in 30 Americans every month, and aggregates, normalizes, and activates an increasing volume of more than 50 million brick and mortar transactions every week. The addition of a method of rewarding loyalty, as well as adding a highly rated smartphone app to our platform, was a simple decision for us," Mobivity chairman and CEO Dennis Becker said in the release.