Edo Interactive Inc.'s prepaid card platform is being used by prepaid card provider Aentra LLC of Miami for a series of gift cards.
The Aentra cards, designed for gift-giving occasions such as baby showers, weddings and bar mitzvahs, let people get cash gifts as funds on their cards.
"Recipients who are busy with major life events such as a wedding or new baby will appreciate the ease of receiving monetary gifts from multiple givers on a single prepaid card," Ed Braswell, edo's chief executive, said in a press release Monday.
All of the Aentra cards use edo's Prewards system, which pays reward funds into a separate account tied to the payment card.
Edo, a Nashville company, separately announced Monday that it has secured an $8.5 million equity investment led by Clayton Associates in Franklin, Tenn., and First Avenue Partners in Nashville.
Edo said it agreed to add Clayton's Matthew King and First Avenue's David Wilds to its board of directors.
Wilds, a managing partner at First Avenue, praised edo's incentive system. "Prewards incent cardholders to spend more and more frequently, which improves portfolio economics," he said.
