Clutch, a mobile commerce company focused on the convergence of e-gifting, loyalty programs and merchant rewards, has closed a $5.3 million Series B financing round led by Safeguard Scientifics. Previous investors, including Ben Franklin Technology Partners, also contributed to the round.
The funds will primarily be used for further development of the Clutch mobile commerce platform, including its B2B offering, says the company, expected to be unveiled later this year.
In another development, Clutch has acquired ProfitPoint, a supplier of loyalty and gift programs.
[Image courtesy: Clutch]