Digital loyalty specialist SQUID Loyalty launches funding round to drive its international expansion

SQUID Loyalty, an ecosystem bringing customers, businesses, payments and rewards together, has launched a seed+ funding round. It is seeking to raise up to €1.35 million via Crowdcube as part of a larger round from new and existing investors.

SQUID is seeking investment to fund the next phase of its expansion strategy, building on its presence across Ireland, the UK and Australia to enter new markets, move into new high growth verticals such as hospitality and fitness, and add strategic partners across the payment space.

The cash will also be used to introduce Wave by SQUID, a universal loyalty solution allowing customers to earn points across SQUID’s network and turn them into perks and experiences, from their favourite local coffee shop to large online brands, entertainment and fitness, travel and beyond.

Founded in Dublin, the company's digital loyalty platform streamlines individual loyalty schemes into one app, boosting customer retention and enabling businesses to build lasting customer relationships. The platform gives businesses of all sizes access direct marketing data, enabling them to analyse spend and tailor offers to keep their customers coming back.

SQUID has already raised €5.5 million to date from tech leaders at Apple, Dell, Shopify, Twitter, and JPMorgan. Last September, it entered a strategic partnership with Square, providing access to the five million merchants that use the global payments company’s technology, helping to expand its customer base and drive growth across international markets.

The company says that it generates recurring revenues from its network of almost 2,000 businesses across Ireland, the UK and Australia, the majority of which are independent foodservice and hospitality companies. It has over 550,000 users and has processed more than 20 million transactions to date on its platform.

Matthew Coffey, CEO at SQUID Loyalty, comments: “The average small-medium size retail business loses half its customers every month, at a cost of billions of euros. While the power of loyalty is well understood, traditional solutions such as paper stamp cards or managing multiple apps no longer work for businesses or customers."

“We are transforming the industry, bringing together thousands of loyalty schemes in one easy to use platform with just the tap of an app. We’re creating a new standard in loyalty, giving businesses of all sizes access to the same tools, data and analysis as the global brands, to keep customers coming back."

“SQUID is built on the power of our network, so I am excited to invite our community to invest in us for the first time via Crowdcube and participate in our growth journey as we enter new markets and launch the next generation of loyalty with Wave universal points.”

2025 RTIH INNOVATION AWARDS

Loyalty solutions will be a key focus area at the 2025 RTIH Innovation Awards.

The awards. which will open for entries in March, celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended November's gathering. 

For further information on the 2025 RTIH Innovation Awards, please fill in the below form and we will get back to you asap.