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Andreas Souvaliotis

Founder, Carrot Rewards

Health techToronto

Andreas Souvaliotis was founder and CEO of Carrot Rewards, a Toronto health-tech app built by Carrot Insights that paid users loyalty points — Scene, Aeroplan, Petro-Points — for walking and health quizzes. It shut down in June 2019 after running out of funding; Planswell bought its assets that September, and Optimity acquired and relaunched it in 2020.

Andreas hasn’t spoken on a TechTO, TechVancouver or TechWaterloo stage. This profile is here because Andreas co-founded Carrot Rewards, which appears in 2 talks in the archive.

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Quick answers

Who founded Carrot Rewards?

The Globe and Mail reported on 2019-06-19 that Andreas Souvaliotis was the chief executive officer of Carrot Rewards and photographed him at his Toronto office; CBC News reported on 2020-01-06 that Souvaliotis founded the app in collaboration with the federal government, and separately referred to him as a Carrot Rewards co-founder.

What happened to Carrot Rewards?

The Globe and Mail reported on 2019-06-19 that Carrot Rewards shut down that evening after its funding ran dry and it failed to find a buyer, and that the company filed for bankruptcy to pay suppliers such as Cineplex's Scene program. CBC News reported on 2020-01-06 that Toronto's Optimity had bought the app's assets and planned to relaunch it, quoting Souvaliotis saying it would be "a Herculean effort to relaunch."

What did Souvaliotis do before Carrot Rewards?

The Globe and Mail reported on 2019-06-19 that Souvaliotis had previously managed and sold a similar loyalty-rewards business called Green Rewards. Global News reported on 2019-04-22 that Green Rewards was acquired by Air Miles.

Has Souvaliotis written about the experience?

CBC Radio's The Next Chapter reported on 2019-05-03 that Souvaliotis wrote a memoir called Misfit about finding strength in being an immigrant, gay and autistic. CBC News reported on 2020-01-06 that Souvaliotis had also written a book about the startup's demise, Carrot Juice, expected out later that year.

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Maintained by TechTO · facts sourced and dated · last reviewed Sep 25, 2026