Propello raises £650k in pre-seed funding led by DSW Ventures to expand its team.
The Manchester customer rewards platform secured backing to build out its workforce following product-market fit.
Propello provides a white-label SaaS platform enabling clients to build custom customer rewards and partnership programmes. The plug-and-play solution helps businesses increase end-user value and reduce churn.
Manchester-based customer rewards platform Propello has secured £650k in a pre-seed funding round led by DSW Ventures. The capital will be utilised to expand the company team significantly over the coming year. Propello offers a white-label software solution that helps clients create tailored loyalty programmes and partnership initiatives.
The business originated as a spin-out from integrated marketing agency Workhouse. Its client roster currently features prominent names such as HelloFresh, JD Gyms, and British Business Bank. This transaction marks the tenth addition to the DSW Ventures portfolio.
From the founder
"DSW have been incredibly generous and supportive with their time and advice since we founded the business. As a result, we have been able to hold off raising until we found our product market fit, and felt that DSW, along with our co-angel investors, were exactly the right combination to execute our growth plans. We’re excited to take Propello forward with their backing, with significant investment already underway in both the platform and team."
Mark Camp
CEO at Propello
Investor perspective
"We have got to know and admire Propello over a period of three years which demonstrates our commitment to developing strong partnerships with the management teams we invest in. We are delighted to now be investing in the business, with yet another deal being oversubscribed by our investors. Mark and George are extremely talented founders and have created what we believe to be a truly fresh and differentiated product."
Ellie Boardman
Investment Manager, DSW Ventures
Use of funds
- 01Grow the team