FREMONT, CA: Loyalty Prime, the leading SaaS (Software-as-a-Service) loyalty platform provider, secured its 1.5 million euro series A funding from the financial consortium consisting of Senovo, Unternehmertum Venture Capital (UVC) and angel investor Alexander Bruehl, to rapidly grow their business across Europe, North America and Asia.
In relation to the above deal, Christoph Straub, Managing Director at Loyalty Prime said
“We at Loyalty Prime are thrilled to have found the perfect set of investors in Senovo, UVC and Alexander Bruehl, who bring the right balance of SaaS experience and growth financing, which will help us toaccelerate ourgrowth story.”
“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.
Frederick von Mallinckrodt, Managing Director at Senovo, adds “We are impressed by the experience of the founders Christoph and Kunal and by Loyalty Prime’s ability to attract top international clients.”
Loyalty Prime kicked off as a self-funded startup in 2014. Spearheaded by its two founders—Christoph Straub (based in Munich) and Kunal Mohiuddin (based in New Delhi)—Loyalty Prime has achieved remarkable success in winning large projects in such a short time including winning the award for the Best B2B Loyalty Program at the prestigious Loyalty Awards in 2015.
It 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.
Casey Ueberroth, Chief Marketing Officer at Preferred Hotels & Resorts underlines the above when he says “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.”
Jan Boluminski, Managing Director at Envolved and co-founder of Payback, who supports Loyalty Prime as advisory board member, says “Loyalty Prime’s SaaS platform is first in class. With the funding, LP will be able to accelerate market penetration and is well prepared to become the ‘Salesforce’ of the loyalty industry.”