Belfast-based fintech company, loyalBe, has secured £725,000 investment in an oversubscribed investment round which it will use to expand into the Irish market.
Founder and CEO, Cormac Quinn, said: “We intend to use the funds to build partnerships and upscale our marketing efforts within Ireland. We have recently partnered with Visa to expand into the Irish market and this investment will allow us to accelerate our rollout of the app to local businesses.”
The loyalBe platform aims to improve customer engagement between retailers and loyal customers, by replacing 'outdated' loyalty tools such as paper cards and QR codes, with a one-for-all mobile app.
The app uses bank-linking technology to allow customers automatically earn rewards by paying with their debit card.
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loyalBe’s platform now enables local businesses to provide their best customers with tailored rewards and offers a new layer of insights to let them get to know their customers better.
Cormac added: “It is extremely important to rally behind local businesses. With loyalBe, we are encouraging customers to shop local and invest in the local economy. Our app helps businesses to create and engage with more loyal customers to drive repeat sales and we’re delighted to be supporting many local businesses already.
“loyalBe is growing extremely quickly, and we are looking forward to onboarding many more businesses and customers to the app in the coming months.”
