Fanminder lands $1M backing from Square, PayPal execs

Mobile marketing startup Fanminder is rolling out version 2.0 of its customer loyalty platform, buoyed by $1 million in new seed funding from Silicon Valley executives including Square chief operating officer Keith Rabois and PayPal vice president of marketing Peter Karpas.

Fanminder offers small businesses a web-based dashboard enabling the creation of coupons and discounts distributed via mobile, email and social networking sites and redeemed in-store on customers' phones. Fanminder 2.0 introduces a series of new features including mobile-optimized webpages for each promotion, an offers gallery, themes and expert-created marketing campaigns.

More than 6,000 small businesses are now using Fanminder services, with another 1,000 SMBs signing on every month. Fanminder is currently in the process of raising Series A funding.

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