Drop is a coalition loyalty program which allows its customers to earn points across a variety of brands in different industries (i.e. transportation, retail, grocery, etc). It is a mobile-based platform which allows seamless earning and redemption and analyzes your spending to curate you rewards.
Drop is the first intelligent rewards program to surface personalized offers based on the way you spend. Its app that lets you earn cash rewards at your favorite brands like Tim Hortons, McDonald's, Shopper's Drug Mart, Uber and many more.
Drop was founded in Aug 25, 2015 by Akhil Gupta, Cameron Dearsley, Darren Fung, Derrick Fung. The company is based in Toronto, Ontario, Canada.
Drop through its personalized commerce platform, it intelligently surface the right brands, at the right time, to make our members’ every day a level better than it was before. Powered by machine learning, it matches consumers with our over 300+ partner brands to satisfy two main goals: to earn points from their purchases and redeem them for instant rewards.
Drop is building the next level experience for our 3 million+ members across North America, and most recently, the UK.
Drop is backed by leading investors including New Enterprise Associates, Plaza Ventures, Portag3 Ventures, HOF Capital, & RBC Capital among others. The company raised $44M in its most recent funding of a "Series B" round on Mar 7, 2019. This brings Drop's total funding to $75M to-date. The company has also acquired Canopy Labs on Nov 15, 2018.