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Swapi closes pre-seed round at GBP860k ahead of October launch

Swapi, a brand-new loyalty e-wallet platform, has closed its latest funding round at GBP860k ahead of its launch this October.

This new injection of funds will help bring the app to market, while ensuring a strong customer experience as well as providing the means to expand the Swapi’s growing team. Swapi has today announced the appointment of Carolina Paradas-Mandato, previously Global Senior Affiliates & CLO Manager at Harvey Nichols, as its new Head of Strategic Partnerships. Carolina will be in charge of expanding Swapi into new and exciting international territories as well as handling all affiliate relationships with the 100-plus brands working with Swapi.

Swapi has been cultivating 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. 

Swapi’s pre-seed round will also be used to ensure the Swapi app is fit for a global roll-out early in the new year, with the team eager to revolutionise not just the British retail experience but kick-start a worldwide evolution of more rewarding retail loyalty.

As modern retail loyalty options and schemes continue to leave customers feeling deflated with poor builds, meagre rewards and incompatibility with other brands, The team at Swapi believe that a change is needed to help retailers bounce back from the pandemic as well as providing customers with attractive loyalty options for the future.

Swapi is on a mission to revolutionise loyalty for the better when it launches next month by providing British consumers with an all-in-one e-wallet for their payment and loyalty cards, as well as providing customers and retailers alike with a brand-new currency called ‘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 in a way that suits their needs and lifestyle. 

For Swapi’s founder and CEO Pete Howroyd, this funding is another clear affirmation that the retail loyalty industry is calling out for innovation and renovation:

“Everyone at Swapi is ecstatic with the amount we have managed to raise during this pre-seed round. 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.”

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