Retailer loyalty App Loyalzoo has raised over £251,395 in funding on its equity crowdfunding on Seedrs, having raised £170,000 in just three days in late April. To date 157 investors have helped the small company exceed its £250,002 goal for 12.15% equity in the company. This campaign marks the second time Loyalzoo has leveraged crowdfunding. In April 2014 Loyalzoo raised £204,000 on Seedrs in less than 2 weeks – its funding goal of £120,000 was easily secured in less than 24 hours. The new funding is said necessary to finance their marketing strategy and scale the business through channel partners.
“This is a business with tremendous potential. We have grown steadily since completing our first funding round with Seedrs in April last year,” said Loyalzoo CEO Massimo Sirolla. “Much has been achieved, both in terms of product development, product placement and moves to expand the potential market via commercial arrangements with merchant service providers. We are now raising a further round which will help us implement our marketing strategy.”
“Loyalzoo App replaces the old school plastic loyalty cards with a consolidated App. Targeting independent restaurants and retailers, it is said to enable merchants to boost sales from existing customers up to 8% – without impacting margins,” reported Crowdfund Insider‘s JD Alois. “This is in contrast to the Groupon craze that hit several years ago where many merchants rushed in to give services away at almost no cost – only to never see these one and done customers ever again. All the big brands have already migrated to smartphone hosted applications, Loyalzoo wants to be the one for local and regional brands.” More campaign details and financial information about Loyalzoo is available for registered Seedrs investors.
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