Swapi has raised £860k in pre-seed funding from Trampoline Ventures and other backers to launch its loyalty e-wallet app.
The pre-seed round included backing from Trampoline Ventures and private investors to prepare for an autumn market launch.
Swapi operates a loyalty e-wallet platform that consolidates payment and rewards cards into a single application. The service introduces a universal points currency to let users exchange balances across various retailers.
Swapi has secured £860k in a pre-seed funding round backed by Trampoline Ventures, private investors, and a previous crowdfunding campaign. The fresh capital will facilitate the market launch of its loyalty e-wallet app, support customer experience initiatives, and fund team expansion. Alongside the funding announcement, the company appointed former Harvey Nichols manager Carolina Paradas-Mandato as head of strategic partnerships to drive international growth and brand relationships.
Ahead of its autumn debut, the platform intends to onboard more than one hundred international brands. The proceeds will also prepare the infrastructure for an expanded global rollout early next year, addressing consumer dissatisfaction with legacy retail loyalty schemes.
From the founder
"Everyone at Swapi is ecstatic with the amount we have managed to raise during this pre-seed round. As we get ready to launch this Autumn, the funds are already proving vital to making the app the best it can be, as well as bringing in fantastic new additions to the team like Carolina, who we are delighted to welcome to the team. With Carolina’s experience, we’re confident we can bring globally-recognised brands onto the Swapi app as we prepare to revolutionise the retail loyalty environment for the better."
Pete Howroyd
Founder and CEO at Swapi
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
