Wellfold

What Wellfold does

Wellfold is a New York-based loyalty and rewards platform that partners with insurance carriers to offer cashback rewards and automated savings tools to policyholders. The company operates on a B2B2C model: insurance carriers subsidize the platform as a free benefit to policyholders, while merchants fund cashback rewards for qualifying purchases. Policyholders link their existing Visa or Mastercard credit or debit cards and earn automatic cashback at over 5,000 national and local brands without downloading a new app or obtaining a new card. The platform also offers round-up savings features designed to help policyholders accumulate funds for premium payments.

The underlying technology is a card-linked rewards platform built on tokenized card systems and transaction data monitoring through partnerships with Visa and Mastercard payment networks. Wellfold offers no-code solutions, developer APIs, a JavaScript Web SDK, and a React Native SDK for insurance carriers to integrate the platform into their customer journeys. The Program Vendor, Olive Group Ltd, provides third-party technology and services for transaction processing, round-up calculation, card-linked offer enablement, and rewards payment processing. The platform's competitive positioning emphasizes the "double dipping" benefit, where policyholders earn Wellfold rewards on top of their existing credit card rewards.

The revenue model combines carrier subscription/recurring revenue with merchant cashback transaction fees. MAPFRE is the only named enterprise customer. The company currently operates only in the United States with explicit geographic restrictions excluding Canada, the United Kingdom, and Australia. Wellfold is a private company with approximately 10 employees and no publicly disclosed funding rounds or investor backing.

Name

Wellfold

Legal name

Wellfold

Website

https://wellfold.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Wellfold is a New York-based card-linked rewards platform that partners with insurance carriers to offer cashback rewards and automated savings tools to policyholders via their existing Visa or Mastercard, with no app download required.

Ownership category

akta.pro rank

Product category

Insurance Loyalty Software

NAICS

Insurance Carriers and Related Activities (524)

akta.pro primary industry

Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)

Keywords

• Insurance rewards platform
• Card-linked cashback
• Policyholder loyalty
• Embedded insurance benefits
• Premium savings tools

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Insurance Carrier Partnership Model: Wellfold partners with insurance carriers to provide the rewards program as a free benefit to policyholders. Carriers subsidize the program to improve policyholder retention and engagement. The program is free for policyholders with no cost to join or participate.
2. Merchant Cashback Rewards: Merchants fund cashback rewards for policyholders who make qualifying purchases. Wellfold acts as intermediary, processing rewards payments from merchants to consumers.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Wellfold operates a white-label loyalty and rewards platform that insurance carriers offer to their policyholders as a free benefit. Policyholders link their existing Visa or Mastercard to earn automatic cashback at 5,000+ national and local brands, plus automated round-up savings designated for insurance premium payments. The platform is integrated into carrier customer journeys via no-code solutions, developer APIs, and SDKs.

Product overview

Wellfold is a single unified loyalty and rewards platform designed for insurance companies to offer to their policyholders. The core offering consists of the Wellfold Rewards program, which enables policyholders to earn automatic cashback on everyday purchases by linking their existing Visa or Mastercard cards with no app download or new card required. The platform includes Automated Savings Tools with round-up features for policy premium savings, and provides Developer APIs with JavaScript Web SDK and React Native SDK for seamless insurer integrations. Policyholders can earn rewards from 5,000+ brand partners and redeem cashback for gift cards.

Differentiator

Problem solved

Functional benefit

Products and services

• Wellfold Rewards

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core.

• Olive Group LtdcoreTechnology or IntegrationOlive Group Ltd serves as the Program Vendor providing third-party technology and services to deliver Wellfold's program functionality. They process transaction data, calculate round-ups, enable card-linked offers, and handle rewards payments.
• VisacoreTechnology or IntegrationVisa is a Payment Network Provider enabling card-linked offers and transaction monitoring. Visa cards are eligible for enrollment in the Wellfold rewards program, excluding Visa Buxx, FSA Visa cards, and EBT Visa cards.
• MastercardcoreTechnology or IntegrationMastercard is a Payment Network Provider enabling card-linked offers and transaction monitoring. Mastercard cards processed through the Mastercard payment system are eligible for enrollment in the Wellfold rewards program.
• MAPFREcoreChannel Partner/ Reseller/ DistributorMAPFRE is an insurance carrier partner offering the Wellfold rewards program to their policyholders as a free benefit. Wellfold has a dedicated privacy policy page for MAPFRE, indicating a significant partnership.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Lemonade: Lemonade is a publicly traded digital insurance carrier that emphasizes a differentiated policyholder experience and embedded engagement. It competes broadly for insurance carrier mindshare and policyholder attention, and represents the kind of digitally native carrier Wellfold would target as a partner.
• RetailMeNot: RetailMeNot is an established digital coupon and cashback platform with a broad merchant network. Wellfold offers a more focused card-linked cashback experience but operates in the same broader merchant-funded consumer rewards category.
• Honey: Honey (owned by PayPal) is a consumer rewards and cashback browser extension with a large merchant offer catalog. While its mechanics (browser-based couponing, PayPal-embedded offers) differ from Wellfold's card-linked approach, it competes for the same merchant-funded consumer rewards spend.

Direct peers

• Cardlytics: Cardlytics is the leading card-linked offers platform that partners with banks and advertisers to deliver cashback rewards to consumers via their existing debit and credit cards. Wellfold applies the same card-linked rewards mechanics — Visa/Mastercard network integration and merchant-funded offers — but for the insurance vertical rather than banking.
• Fetch Rewards: Fetch Rewards is a consumer rewards app that converts everyday receipts into points redeemable for gift cards. Wellfold targets overlapping consumer rewards behavior (cashback on everyday purchases, gift card redemption) but delivers it through card-linked mechanics tied to insurance policyholders.
• Empyr: Empyr is a white-label card-linked offer platform that partners with financial institutions and publishers to deliver merchant-funded rewards. Wellfold and Empyr share the white-label/B2B2C card-linked offer model, with Wellfold's vertical focus being insurance carriers.
• Bridg: Bridg (formerly Edo) is a card-linked marketing platform that enables financial institutions and advertisers to run targeted card-linked offer campaigns. Wellfold and Bridg share the same underlying card-linked technology, tokenized card architecture, and merchant-funded offer economics, with Wellfold focused specifically on insurance carrier distribution.
• Upside: Upside is a consumer cashback rewards platform focused on gas, grocery, and restaurant purchases, monetizing through merchant-funded offers. Wellfold targets a similar everyday-purchase cashback experience for policyholders, with the key differentiation of distribution via insurance carriers rather than direct consumer acquisition.
• Ibotta: Ibotta is a publicly traded consumer cashback rewards platform with thousands of brand offers on everyday purchases. Wellfold competes for the same merchant offer dollars and consumer attention, but distributes rewards through insurance carrier partnerships instead of a standalone consumer app.

Emerging players

• GloveBox: GloveBox is a mobile app for insurance policyholders that digitizes insurance cards, claims, and policy documents. It overlaps with Wellfold on the goal of increasing policyholder engagement beyond the claims cycle, but solves it through utility features rather than cashback rewards.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/wellfold

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wellfold