The investment comes ahead of the startup’s launch in June, making it the largest pre-launch funding rounds in the country. The deal also gives Little Birdie a valuation of A$130 million.
Set to launch mid-June this year, Little Birdie aims to curate over 70 million products to search, compare, track, and share to allow customers to discover all the latest price drops, sale events, and exclusive offers across all their favorite brands and stores in real-time.
The capital will be used to further enhance Little Birdie’s platform as well as fast-track its growth and international expansion plans.
As part of the deal, CBA will, over time, integrate curated Little Birdie shopping content into its market-leading CommBank app, and provide the startup with access to CBA’s 11 million retail customer base in Australia.
For CBA, the deal supports its evolving strategy to deliver the world’s best digital experience through its banking and partner ecosystem and delivering an enhanced customer experience by connecting them with great offers which they can discover in the CommBank app.
“We are thrilled to partner with CBA as a shopping content partner. Part of our growth strategy is to integrate major brands with Little Birdie’s shopping content to drive greater engagement and a seamless customer experience,” said Jon Beros, co-founder and CEO of Little Birdie.
Beros noted that consumers are bombarded with messages and options on a daily basis, making shopping online an overwhelming experience for many, leading to abandoned shopping carts and customer churn.
Little Birdie, he said, solves this problem with its pioneering retail model that provides shoppers with a smarter and more convenient way to shop. Retailers also take advantage of a new customer acquisition channel that delivers highly qualified customers.