Loyalzoo will use the investment to grow its US and UK presence and establish a team in the US to work alongside the UK-based HQ.
There will be a strong focus on deploying Loyalzoo across more retail POS platforms, growing partnerships, reseller engagements and merchant user base.
Loyalzoo CEO Massimo Sirolla said: “We are seeking investment to ensure we can roll out as widely and quickly as possible to meet the demands of the market.
“With hundreds of merchants across the UK and USA, over 300,000 loyalty transactions processed to date and recurring revenues growing 12% month-on-month, we are an established loyalty service for small to medium sized retailers and restaurants and ready for scalable growth.”
The company has already secured most of its target amount from existing investors, and has launched on the Seedrs crowdfunding platform to secure further investment.
Within the first day the company has already raised almost 80% of its £500,000 target, from over 40 investors.
The opportunity to invest will be live until 30 November. This follows Loyalzoo’s previous crowdfunding campaigns in 2014 and 2015, which raised a total of over £450,000 in just a few days.
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