Loyalty e-wallet platform Swapi has closed its latest funding round at £860,000 ahead of its UK launch later this month.
This new injection of funds will help bring the app to market after it signed up 100+ international brands, including HelloFresh, Europcar and Missguided.
The pre-seed round will also be used to ensure the Swapi app is fit for a global roll-out early in the new year.
Swapi provides consumers with an all-in-one e-wallet for their payment and loyalty cards, as well as providing customers and retailers alike with a new currency, ‘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 then spend their loyalty points however they like.
The startup has appointed Carolina Paradas-Mandato, previously global senior affiliates & CLO manager at Harvey Nichols, as its new head of strategic partnerships.
Paradas-Mandato will be in charge of expanding Swapi into new territories as well as handling all affiliate relationships with the 100+ brands working with Swapi.
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“Everyone at Swapi is ecstatic with the amount we have managed to raise during this pre-seed round,” said founder and CEO Pete Howroyd.
“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 funds from a variety of backers since incorporating last year, including private investors, a crowdfunding round as well as considerable investment from Trampoline Ventures, which has invested in other exciting names in the tech industry such as Gousto, Mediquo, a Spanish and Latinamerican telemedicine platform, Argentinian crypto currency payments platform Lemon Cash and Singaporean BNPL start-up Octifi.