Loyalty Prime, a leading SaaS (Software-as-a-Service) loyalty platform provider, just closed a €1.5 million Series A funding round with Senovo, Unternehmertum Venture Capital (UVC) and angel investor Alexander Bruehl. The Munich-based startup will use the fresh capital to rapidly grow the business across Europe, North America and Asia.
Founded in 2014, the loyalty cloud platform serves clients worldwide to run leading loyalty programs in different industries. Loyalty Prime enables its customers to do much more than a simple earn and redemption processes. It provides all necessary business rules and maximum flexibility for managing high performing loyalty programs. Multiple APIs provide ease of integration to front-end channels, campaign management and other IT systems.
Spearheaded by its two founders – Christoph Straub (based in Munich) and Kunal Mohiuddin (based in New Delhi) –, Loyalty Prime has been able to win several large projects in a short amount of time including. The startup also won the award for the Best B2B Loyalty Program at the prestigious Loyalty Awards in 2015.
Loyalty Prime is the first of its kind cloud-based loyalty solution, which delivers enterprise class functionality to small, medium and enterprise clients, such as Fraport AG, TRW ZF, Preferred Hotels & Resorts to name a few.