Rezolve AI Acquires Reward Loyalty for $230M in All-Cash Deal — AI Commerce Meets Card-Linked Loyalty and Retail Media

Rezolve AI Completes $230M Acquisition of Reward Loyalty

On February 10, 2026, NASDAQ-listed AI commerce company Rezolve AI (RZLV) announced it had acquired 100% of the shares of UK-based customer engagement and commerce media platform Reward Loyalty UK Limited for $230 million. The entire consideration was funded from existing cash reserves, making it a fully non-dilutive transaction with no equity issuance or external financing.

Rezolve AI CEO and Chairman Daniel M. Wagner stated that "Reward sits at the heart of AI-driven commerce where discovery, engagement, transaction, and loyalty converge, as a profitable platform."

Industry Landscape

This acquisition is noteworthy because it occurred at the intersection of two rapidly growing markets: AI commerce and retail media (commerce media).

The retail media market is projected to reach approximately $204 billion in 2026, growing at 14% year-over-year. Meanwhile, the conversational commerce market is expected to grow from approximately $17.2 billion in 2024 to $56.9 billion by 2030. Furthermore, McKinsey predicts that the broader "Agentic Commerce" market could reach up to $1 trillion in US B2C retail alone by 2030.

Against this backdrop, the movement to integrate previously siloed layers of "AI personalization," "payment infrastructure," "loyalty programs," and "retail media" into a single platform is accelerating. Rezolve AI's acquisition of Reward is a prime example of this consolidation trend.

Strategic Significance of the Acquisition and Reward's Platform

What Is Reward Loyalty?

Reward is the UK's largest card-linked rewards platform company, founded in 2001. According to FinTech Futures, the company operates in over 15 countries across Europe, the Middle East, and Asia, serving tens of millions of active cardholders. Its partners include major banks such as Barclays, NatWest, Monzo, Virgin Money, Mashreq, and FAB, along with integration with major payment networks Visa, Mastercard, and American Express.

Reward's platform delivers real-time personalized cashback offers to consumers' banking apps and card statements based on anonymized transaction data. When a purchase is made with an enrolled card, rewards are automatically applied regardless of whether the purchase occurs in-store, online, or via remote payment. According to a PRNewswire release, the company has returned over $2.5 billion in cumulative cashback to customers, with a target to expand to $4 billion by 2030.

Reward is backed by Experian and TransUnion (global data and technology companies), underpinning the reliability of its data infrastructure.

Integration Logic with Rezolve AI's Brain Commerce

Rezolve AI operates an enterprise AI platform called "Brain Suite." This platform uses AI to integrate search, transaction, fulfillment, and personalization capabilities, serving as a foundation for "agentic commerce."

According to the official press release, Reward's customer engagement and commerce media functions sit "upstream" of payment and fulfillment. In other words, Reward's capabilities that work at the stage when consumers "discover" and "become interested" in products complement rather than compete with RezolvePay and Brain Commerce's functions that handle "purchasing" and "payment" -- they work in series, not in parallel.

This integration creates a closed loop of "discovery, conversation, transaction, and measurement." Brands can guide consumers seamlessly from discovery to purchase and complete performance measurement based on actual spending data.

Financial Impact

This acquisition marks a significant financial turning point for Rezolve AI. According to Yahoo Finance, the company has set the following financial targets:

• Adding approximately $90 million in EBITDA-contributing revenue for fiscal 2025
• Post-integration recurring revenue of approximately $300 million (existing $209M at end of 2025 plus Reward's approximately $90M)
• 2026 revenue target of $350 million or more
• Expected to achieve ARR (Annual Recurring Revenue) exceeding $500 million by end of 2026

Additionally, Rezolve AI completed a $200 million funding round in September 2025 and has hired former Microsoft executive Elizabeth Lachhar to accelerate US expansion, with plans to secure 40 local sales personnel by the end of Q2.

Impact and Implications for E-Commerce Businesses

There are three structural shifts that e-commerce businesses should take away from this acquisition.

The evolution from traditional point-card loyalty to real-time "purchase-moment personalization" based on transaction data is accelerating. In the Rezolve AI + Reward model, AI presents personalized offers the moment a consumer's purchase intent is detected through a banking app. For e-commerce businesses, this could function as a "new customer acquisition channel" via banking and payment networks.

Retail media has traditionally been dominated by major retail platforms such as Amazon, Walmart, and Target. However, this acquisition demonstrates that a new retail media domain -- "banking media" through banking and payment networks -- is emerging. E-commerce businesses will need to consider advertising placement through payment and banking channels, not just on retail platforms.

Reward's greatest strength is its "closed-loop" attribution that can track from offer delivery to actual purchase within a single data pipeline. As dependence on last-click measurement declines and ROAS measurement based on actual purchasing behavior becomes standardized, this will directly impact ad operations for e-commerce businesses.

Conclusion

Rezolve AI's $230 million acquisition of Reward Loyalty is a landmark deal demonstrating that four domains -- AI commerce, payment infrastructure, loyalty, and retail media -- are rapidly converging. In particular, the combination of Reward's "card member base of tens of millions reached through banks" with Rezolve AI's "agentic commerce AI platform" has the potential to create a new "banking-first" commerce model that differs from the traditional retail platform-centric approach to retail media.

Rezolve AI held an investor call on February 12 and plans to begin cross-selling to Reward's customer base from Q2 onward. The key points to watch going forward are the specific product roadmap following integration and the progress of full-scale expansion in the US market.