Coniq snags funding and looks to scale up

Coniq has closed a £6.4 million funding round, led by Guinness Asset Management and Maven Capital Partners.

The UK startup, whose CRM and loyalty platform is used by shopping malls, outlets and brands, has to date raised £14.4 million. It now plans to accelerate its technical development, hire marketing, sales and client success professionals, and expand internationally with new offices in Chicago, Warsaw and Barcelona.

As part of the transaction Hugo Vaux, Fund Manager at Guinness Asset Management will join the board of Coniq, with Adam Bunch, Investment Manager at Maven Capital Partners coming onboard as an observer.

Vaux comments: "We're very excited to partner with Coniq to help them scale up and realise their full potential. The shopping mall industry is undergoing huge change and is underserved by good technology. Coniq is changing the way the industry operates and we believe its innovative technology, competitive strengths and excellent market position will drive significant returns."

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