Rewards and loyalty startup Twid raises $12 million in funding led by Rakuten Capital.

Rewards and loyalty startup Twid has raised $12 million as part of its Series A round led by Rakuten Capital.

Google, JAFCO Asia, January Capital, ICMG Partners, Reddy Futures Fund and existing investors Beenext and Surge, the accelerator programme of Sequoia Capital India, also participated in the funding round.

The company said it would use the funds to grow its merchant acceptance network, hire more talent across data science and analytics functions as well as drive further technological innovation.