Loyyal, a San Francisco, CA-based blockchain powered global loyalty network, closed a Series A funding round.
The amount of the deal was not disclosed.
The round was led by Integrated Networks (iNet) with participation from UAE Exchange, Hayaat Group, Day One Investments, and other international investors. They joined Hayaat Group, an early investor.
The company will use the capital to complete development of its platform and accelerate its go to market strategy with long term strategic advisor and first client, Deloitte, strategic partnerships with value-added resellers IBM and Quidam, and strategic alliance with Capgemini.
Led by Greg Simon, CEO and Co-Founder, Loyyal leverages blockchain and smart contract technology to provide a loyalty and rewards platform with several capabilities including dynamic interoperability and scalability, real-time value transfer, security of records, programmable rewards, and improved liability management options.