Retail rewards app closes out pre-seed funding round at £860,000
A new loyalty e-wallet platform has closed its latest funding round at £860,000 ahead of an official launch in October.
The injection of funds will enable Swapi to bring its app to market and expand its team.
The company has already appointed Carolina Paradas-Mandato, previously a senior manager at Harvey Nichols, as its new Head of Strategic Partnerships.
She will be in charge of expanding the business internationally and managing relationships with the 100+ brands working with Swapi currently.
The pre-seed round funds will be used to ensure the Swapi app is fit for a global roll-out in early 2022, with the management team eager to kickstart a worldwide evolution of making retail loyalty more rewarding.
When it launches next month, Swapi will provide British consumers with an all-in-one e-wallet for their payment and loyalty cards, as well as providing customers and retailers alike with a brand-new currency called ‘Swapi Points’ to spend on rewards, coupons and discounts on the app, irrespective of which retailer the customer has accrued their points with.
By collecting Swapi Points with a host of leading retailers, hotels, airlines and more, customers can spend their loyalty points in a way that suits their needs and lifestyle.
Swapi Founder and CEO, Pete Howroyd, said: “Everyone at Swapi is ecstatic with the amount we have managed to raise during this pre-seed round.
“As we get ready to launch this Autumn, the funds are already proving vital to making the app the best it can be, as well as bringing in fantastic new additions to the team like Carolina, who we are delighted to welcome to the team.
“With Carolina’s experience, we’re confident we can bring globally-recognised brands onto the Swapi app as we prepare to revolutionise the retail loyalty environment for the better.”
- Swapi has raised £860,000 in a pre-seed funding round to develop its retail rewards platform
- Investors in the company include Trampoline Ventures, which has previously invested in food delivery business Gousto
- If you’re looking to raise funds to help take your business to the next level, head over to the UMi platform: https://www.weareumi.co.uk/webapp/finding-money/managing-money/