Quantum Group acquires mobile cashback app Tail

By Megha Bhattacharya

London-based FinTech incubator Quantum Group today announced the acquisition of mobile cashback app Tail. The acquisition is expected to enable Quantum Group to increase the number of banking partners integrated with Tail and to onboard different retailers from around the UK.

Tail’s platform enables retailers to create hyperlocal marketing campaigns, thus allowing them to increase footfall and customer volume across demographics. The company utilises Open Banking data to help banks provide cashback, rewards, and loyalty programs to customers in an automated manner.

Dave Pearson, who has come on board as Managing Director, said, “We are looking forward to continuing the great work that Tail has achieved, and ensuring that the expansion of both banking partners and retailer cashback offers even greater value to our customers. The Tail platform is designed to ensure the customer and retailer alike enjoy a seamless experience that changes the way they interact with their cards.”

The FinTech investment incubator’s portfolio includes companies like pre-paid multi-currency card company Volopa and security specialists Valkyrie. It delivers regulated financial solutions through a range of core products, including state-of-the-art security innovations.

Quantum Group Chairman Floyd Woodrow MBE DCM LLB said, “We are delighted to welcome Tail fully on board within the Quantum Group. Tail’s world-class service offers true value to cardholders around the UK, as well as our banking partners and retailers, and we are excited for the platform’s future expansion.”