Incentive firm announces first round of funding

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Fatshoe Incentive Systems, a startup that provides Internet loyalty and incentive programs, today announces a $6.25 million first round of funding from Espirito Santo Financial Group of Lisbon, Portugal. Fatshoe will use the capital to invest in its proprietary incentive technologies and to fund international expansion. Fatshoe's incentive programs are designed to help companies with employee and customer retention by offering users the ability to cash in rewards offline and online using a Visa card. Fatshoe and Espirito Santo also signed an agreement to roll out Fatshoe internationally. Fatshoe is entering a fiercely competitive marketplace crowded by companies such as Flooz.com and MyPoints.com.

Copyright December 2000, Crain Communications Inc.

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