German company Loyalty Prime, an SaaS-based loyalty platform, secured €1.5 million in Series A funding. The investment comes from Senovo, Unternehmertum Venture Capital (UVC) and angel investor Alexander Bruehl. The company plans to use the new funding to rapidly grow their business across Europe, North America and Asia.
Loyalty Prime began as a self-funded start-up in 2014, founded by Christoph Straub, based in Munich, and Kunal Mohiuddin, based in New Delhi. It is a cloud-based loyalty solution, which delivers enterprise class functionality to small, medium and enterprise clients, such as Fraport AG, TRW ZF, and Preferred Hotels & Resorts. The company's international team includes 60 employees and is located in three offices: Munich (head office), London and New Delhi (delivery centre).
"Loyalty Prime's platform excels due to its fast set up time and quick integration into existing IT systems. Moreover, it's incredibly easy to use," said Casey Ueberroth, Chief Marketing Officer at Preferred Hotels & Resorts, one of the company's clients.
"Loyalty Prime has proven that its excellent and innovative product is the right answer to today's needs of a modern loyalty program," said Johannes von Borries, Managing Director at UVC in a statement.
Read more: PR Newswire (Press release)