Swapi announces pre-seed round ahead of October launch
Swapi, a new UK-based loyalty e-wallet platform, has closed a funding round at £860,000, ahead of its launch next month.
This new injection of funds will help bring the venture’s app to market, as well as providing the means to expand Swapi’s team.
Swapi has been cultivating funds from a variety of backers since incorporating last year, including private investors, a crowdfunding round as well as investment from Trampoline Ventures, which has backed the likes of British meal kit retailer Gousto, Argentinian cryptocurrency payments platform Lemon Cash and Singaporean BNPL startup Octifi.
The pre-seed round will also be used to ensure the app is fit for a global roll-out early in the new year.
New appointment
Swapi this week announced the appointment of Carolina Paradas-Mandato, previously Global Senior Affiliates & CLO Manager at Harvey Nichols, as its new Head of Strategic Partnerships.
She will be in charge of expanding the startup into new territories as well as handling all affiliate relationships with the 100+ brands working with Swapi.
Founder and CEO Pete Howroyd, says: “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.”
He adds: “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.”
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