The London startup has raised backing from angel investors across hospitality, real estate and sport.
"I loved the unique concept, the team, the user traction and how users are responding through high engagement. Loyalty is about perfect execution and building a solution the customers love. Embargo is the one who got it right."
The seed round was backed by angel investors and venture capital firms including Lakestar, SIX Fintech Ventures, and JME Ventures.
"Small businesses are the lifeblood of our economy, yet many are struggling to get back on their feet after the pandemic. We’re on a mission to support them getting paid on time and, by digitising the payment process, stop the time they waste chasing and managing payments; ultimately supporting a stronger cash flow and meaning they can survive and thrive."
— Pete Bailey, Co-founder and Chief Product Officer
THG Ingenuity has invested £1.4m for a minority stake in Civo to bolster its cloud infrastructure offering.
"We built THG Ingenuity to remove the burden of multi-partner relationships and complex software and infrastructure. In turn, THG has sought best-of-breed partners that help us create the most seamless, effective, and scalable direct-to-consumer retail models in a single, digital platform."
General Atlantic led the Series E financing round to support the company growth.
"Enterprises need to effectively close information gaps by rapidly transforming operational data into analytics-ready datasets that fuel business intelligence, AI, and ML innovation,"
The seed round was led by Index Ventures with participation from Eka Ventures, Venrex, and Dylan Field.
"It’s all very well to ask people to ‘shop responsibly’, but the reality is that consumers only have the choices that businesses offer, and it’s not fair to put the burden on individuals to constantly sacrifice cost and convenience."