Boodil secures £525k in pre-seed funding from angel investors to develop its payment platform
The pre-seed round features backing from business leaders including Louis and Reg Rix, Anthony Morrow, and Gary Corbett.
Boodil provides an open banking payments and consumer engagement application designed to make online transactions safer and more rewarding. The platform integrates with merchant checkouts to offer cardless payments backed by instant settlement.
Manchester-based open banking payments app Boodil has secured £525k in a pre-seed funding round to develop its proposition and launch to market. The investment comes from a syndicate of angel investors and high-profile business figures.
The company provides an alternative checkout solution that bypasses traditional card networks, saving businesses transaction fees while offering users reward points and prize draws. The fresh capital will support the company as it rolls out its offering to merchants across retail, automotive, and booking sectors.
Participants in the round include Louis and Reg Rix, Anthony Morrow, Gary Corbett, 3B4 Investments, and Ben Luscombe.
Investor perspective
"I believe Boodil have identified a gap in the market with their proposition, which is being highlighted by the early adoption of their one click cardless payment solution. Myself and Reg have experience in Open Banking, utilising it for 247Money and believe Boodil has the potential to really disrupt the open banking payments market"
Louis Rix
Co-founder of CarFinance 247 & 247Money, Louis Rix
Use of funds
- 01Continue product development