Silk Cashback

silkcashback.com ↗ ·Madrid ·Pre-seed

Silk Cashback is a Madrid-based fintech that describes itself as "the performance layer for physical commerce": it turns bank and neobank apps (including a partnership with Revolut) into a distribution channel for brick-and-mortar merchants via card-linked cashback and loyalty offers, attributing real card purchases to campaigns so merchants pay only for verified incremental in-store sales. Founded in December 2023 by three second-time founders who previously exited proptech SaaS Arextech (acquired by Architrave), the company originally launched as "Silk | Cashback for Rent", a loyalty programme letting tenants earn points on rent payments, and has since pivoted to retail/merchant cashback across a reported 45,000+ Spanish physical retailers. It won Mastercard's For Fintechs Iberia 2025 competition (announced under the name "Silk Pay").

Founded

2023

Founders

Total funds raised

€770K

SectorsFintech, Payments, Loyalty & Rewards, Retail Media, Martech Start-up MapFintech › Payments & merchant checkout

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Founders

Alfonso Chaparro

Co-founder & CTO

Ignacio Suárez Alonso-Graña

Co-founder & COO

Miguel Linera Alperi

Co-founder & CEO

Global models 5

Upside

United States · www.upside.com ↗

Upside runs card-linked cashback offers for physical merchants like fuel stations, grocers and restaurants, and those merchants pay only for incremental in-store sales it can measure.

~$270MComparable

Cardlytics

United States · www.cardlytics.com ↗

Cardlytics puts cashback offers inside bank apps and online banking, and merchants pay based on card purchases it can attribute to those offers.

~$170MComparable

Fidel API

United Kingdom · fidelapi.com ↗

Fidel API is the card-linking layer that links payment-card transactions to merchant offers, so partners can run and verify in-store cashback and loyalty campaigns.

~$85MComparable

Dosh

United States · www.dosh.com ↗

Dosh ran automatic card-linked cashback, also embedded in fintech and bank apps, with merchants paying per verified purchase (Cardlytics bought it in 2021).

~$65MComparable