Customer loyalty app raises $2.5m

Glasgow-based Swipii, which provides loyalty, marketing and customer relationship management for small businesses, has raised $2.5m, reports Tech City News.

Founded in in 2014, Swipii helps small retail businesses and public sector organisations improve customer data collection and increase repeat visits.

“Our vision is for Swipii to become the Salesforce of hyperlocal retail,” said co-founder and chief executive Chitresh Sharma.

“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 ROI and significantly increases revenue for their business.”

The latest investors include LocalGlobe, Global Founders Capital and Kima Ventures.

Swipii says it has just over 1,000 merchants on board and hopes to use the new funding to increase this to 4,500 merchants in 2017.

The company recently partnered with Cordia, Scotland’s largest provider of catering services, to encourage and reward school pupils to eat healthier options at lunchtime.

Following a three-month pilot scheme at a secondary school in the Southside of Glasgow, all 30 secondary schools in Glasgow have Swipii on their premises.

The company also has partnerships the Mitchell Library in Glasgow and with six universities across the UK, and hopes to expand the number of customers using its services from 410,000 towards 2m within the next 12 months.