A mobile payments and electronic point-of-sale (EPOS) start-up which has worked with international brands including Subway and Costa Coffee has secured £1.2 million to drive its UK and international roll-out.
Swoopos, developed by entrepreneur Lee Nazari, is a point-of-sale system aimed at helping merchants take advantage of mobile payments, cashless transactions, mPOS solutions, loyalty rewards and data analytics software.
The funding came from investors including a global VC, and will allow the company to open a new HQ office in Milton Keynes as it prepares to expand into new retail markets.
“Swoopos has made an impressive impact on a huge market in such a short space of time, and this would not have been possible without the guidance we received in the early days from the Entrepreneurial Spark Powered By NatWest business accelerator,” Nazari said.
“They saw the potential of Swoopos when it was just a business plan. And I encourage anyone with a business idea to join one of their many accelerator programs. I will be forever grateful to them.”
Swoopos was founded in 2017 and works with national Subway, Costa Coffee, and Second Cup Coffee.
The start-up says it alleviates many challenges faced by retail and hospitality brands by offering “seamless” mobile ordering and payment, an inventory and staff management system and extensive customer data and analysis.
The company now plans to roll out a “superior version” to the market with new features.