A TECHNOLGY start-up based in Glasgow has raised £2m to help deliver a data-driven marketing platform for local businesses with an aim of building a user base of two million in the next 12 months.
Glasgow-based Swipii has drawn new investment for its loyalty scheme – which can be compared to the likes of Tesco’s Clubcard – with a view to expanding to 4,500 merchants by the end of 2017.
Currently, the business has more than 1,000 customers and more than 410,000 users.
Its investors include LocalGlobe, Kima and GFC.
Chitresh Sharma, chief executive and co-founder said: “Our vision is for Swipii to become the Salesforce.com of hyperlocal retail. We want to give the power of systems such as Tesco’s Clubcard to small and medium sized retail businesses at a price that delivers a better return on investment and significantly increases revenue for their business.”
Swipii was founded in 2014 by international students Mr Sharma and Louis Schena, who met while studying at the University of Strathclyde.
The system works by collecting data on users based on their purchases in a participating store. Retailers in any sector that have signed up can then use this data to form personalised offers that help drive loyalty, and subsequently increase revenue.
Swipii has recently grown staff numbers from seven to 43 and opened a London office.
Earlier this week it appointed KPMG to provide business advice and manage its growth as it expands.
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