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Big retailers offer small equity stakes to shoppers
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Woolworths, Kogan and Marley Spoon are among the ASX-listed retailers issuing fractional shares to consumers as loyalty rewards in a micro-investing scheme encouraging the next generation of Australian shareholders.
Fintech start-up Upstreet has been launched to the public after a two-year pilot program, with an app that allows shoppers to receive up to 8 per cent of their transaction value back in the form of fractional shares in the company they purchased from.
Meal-kit provider Marley Spoon has seen an uptick in sales from its trial with fintech Upstreet.
For every transaction an Upstreet app user makes in meal kits retailer Marley Spoon, for example, they will earn 2 per cent of the value in shares in the company as well as $45 worth of fractional equities as a sign-up bonus.
Fintech Spotlight: How Bumped Makes You An Owner In The Brands You Shop At benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.