Swipii, a Glasgow, Scotland-based cashback app, secured £1m in funding.
The round was led by Par Equity.
The company intends to use the funds for product development as it plans to launch further innovative features for its business customers over the coming months, before taking the product to new towns and cities.
Led by CEO and Co-founder Louis Schena, Swipii provides an app for consumers to earn cashback as they shop. Once someone has securely linked their bank payment card to the app, they automatically earn cashback every time they pay with that card in a participating retailer. There is no need to scan codes or carry multiple reward cards. To date Swipii has focused its product on the Glasgow market to validate the value the app generates for both consumers and local businesses.