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This article was published on December 21, 2012

    Appconomy wraps up $16m funding round as it launches merchant rewards platform in China

    Appconomy wraps up $16m funding round as it launches merchant rewards platform in China
    Josh Ong
    Story by

    Josh Ong

    Josh Ong is the US Editor at The Next Web. He previously worked as TNW's China Editor and LA Reporter. Follow him on Twitter or email him a Josh Ong is the US Editor at The Next Web. He previously worked as TNW's China Editor and LA Reporter. Follow him on Twitter or email him at [email protected].

    Mobile app firm Appconomy has announced completion of a $16 million Series A funding round as it launches its Jinjin Marketplace app for merchants in China, starting with Beijing and Shanghai.

    The Jinjin app is designed to consolidate multiple merchant rewards and membership programs into a  single app. Notable partners already on board include Golden Phoenix Bakeries, Burger King and Pepper Lunch. The software is arriving first on Android, and should hit the iOS App Store “within days”.

    CEO Brian Magierski described the launch as a “unique milestone in the reinvention of the retail and dining experience for Chinese consumers and merchants.”

    The company, which is dual-headquartered in Austin, Texas and Shanghai, China, first announced its Jinjin retail solution in China last month. Alongside its Marketplace app, Appconomy offers branded apps for larger brands looking to jump right into mobile with the help of the Jinjin platform.

    The recent batch of funding brings the total investment in Appconomy to over $17.5 million. Backers include Qiming Ventures, True Ventures, and Neusoft Corporation.

    Image credit: Photodisc