RewardLoop, a Vancouver, BC, Canada-based plug-and-play mobile loyalty platform and network that rewards customers based on merchants’ real-time POS data, has raised $1m in Series A financing.
The round was led by Madrona Venture Group.
Led by co-founder and CEO Jeff LaPorte RewardLoop offers a mobile platform that enables merchants of any size to identify their most profitable customers, and engage them in individualized, transaction-based customer loyalty relationships via their mobile devices. It tracks dollars spent and items purchased.
The company delivers its service via a web app and a plug-and-play adapter called RewardLoop Connect that works with 85% of the Point-of-Sale (POS) platforms that use countertop receipt printers.
The adapter sits between a merchant’s point-of-sale terminal and receipt printer and adds a transaction-identifying QR code and call-to-action at the bottom of every receipt.
Customers scan the code with their mobile phone to collect and redeem loyalty points using RewardLoop’s mobile web application.