RewardLoop Closes Seed Financing

RewardLoop, a Vancouver, Vancouver (BC), Canada-based provider of solutions that enable card-less customer loyalty transactions via mobile phones, has recently closed a seed financing of undisclosed amount.

The round was led by Canadian angel investor Boris Wertz (W Media Ventures), with participation from prominent executives from online and offline retailers.

The company’ s patent-pending RewardLoop Connect  is a Point of Sale (POS) adaptor that allows  retailers (including independent and chain merchants, including coffee shops, restaurants, retailers, local service providers) to deploy a secure, transaction-based mobile loyalty program.

Through the device, RewardLoop prints transaction-identifying QR codes on merchant bills and receipts. Consumers scan these one-time-use codes with their mobile phones to earn and redeem merchant-defined loyalty rewards through the company’s cloud hosted platform. RewardLoop’s mobile-rendered stamp cards show users their earning progress towards each reward.

RewardLoop Connect, which is universally compatible with the world’s leading POS platforms, has also been designed with ports for Near Field Communications (NFC) scanners.

The company is led by co-founders by CEO Nigel Malkin and CTO Jeff LaPorte.




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