Mall Networks, a manager of merchant-funded rewards programs, reported Monday that its fiscal 2010 revenue grew by more than 100%, and announced its renaming as Cartera Commerce Inc.
Cartera also said it raised $6.5 million in venture capital from investors.
The Lexington, Mass., company's merchant network has grown to 800 online retailers and 200 brick-and-mortar merchants. These include Rite Aid, Chevron, BestBuy.com and Staples.com.
During the fiscal year ended March 31, the company worked with JPMorgan Chase & Co. on Chase RealCash, a debit card rewards program that earns customers cash back on everyday spending in specific merchant categories and bonus offers from other retailers. It also worked with USAA Federal Savings Bank to roll out the San Antonio company's MemberShop loyalty program.
Cartera, a private company, did not disclose specific financial results.