MasterCard has acquired Truaxis, a company that used to be known as BillShrink. The financial details are not known. Truaxis raised around $9 million in funding from Trinity Ventures and Bessemer.
When BillShrink first started out, they were a startup that focused on helping people cut costs like Mint.com. BillShrink wanted to help people save on cellphones, credit cards, cable bills, etc. Truaxis lets merchants target offers to pre-selected consumer profiles.
Truaxis uses transaction data to enhance relationships between financial institutions, businesses, merchants, and customers. Truaxis’ service is known as StatementRewards. The service finds relevant rewards and value added services from an individual’s favorite merchants.
BillShrink helped 1.6 million Americans find savings of over $1 billion. “The integration of the Truaxis platform with the MasterCard network will allow for real-time offer delivery coupled with advanced analytics to ensure consumers get more meaningful offers, merchants gain efficiencies in driving sales and financial institutions build greater loyalty with customers,” said MasterCard in a statement.