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Successful Seven-figure Funding Round for Provider of SaaS Customer Loyalty Platform: Loyalty Prime Intensifies Its International GrowthMUNICH, November 29, 2018 /PRNewswire/ -- The Loyalty Prime Group, a leading provider of SaaS-based loyalty platforms, has completed another seven-figure funding round. The investors are Bayerische Beteiligungsgesellschaft (BayBG), which is a new investor in the company, and the existing consortium of investors - including Senovo, UVC Partners and business angel Alexander Bruehl - that has been in place since 2017 and is now further increasing its involvement. The capital is mainly being invested in Loyalty Prime's rapid international expansion, especially in the USA, as well as within product innovation and development.
High-performance IT solutions to run loyalty programs continue to be in strong demand by companies around the globe. It is a billion-euro market, in which the SaaS company Loyalty Prime, based in Munich, London, Atlanta and New Delhi, is continuously expanding. With its award-winning enterprise SaaS platform 'Prime Cloud', Loyalty Prime provides medium to large enterprises around the world with a uniquely flexible solution to quickly and efficiently set up and profitably run loyalty programs of any type and complexity. Since it was founded by the two customer loyalty and IT experts Christoph Straub and Kunal Mohiuddin in 2014, Loyalty Prime has won numerous blue chip companies from a wide variety of industries (including retail & e-commerce, travel & hotel, automotive, TV & entertainment as well as consumer goods) as satisfied customers. After another successful financial year in 2018, which for example witnessed an increase in revenues of 80 percent, the market entry in the USA and a doubling of customers, Loyalty Prime has now secured a solid financial basis for its rapid international expansion and product innovations in 2019. The funding round is financed by BayBG, which newly joins the consortium of renowned Loyalty Prime investors, as well as Senovo, UVC Partners and angel investor Alexander Bruehl, who have been backing the successful deveopment of Loyalty Prime's enterprise loyalty products since 2017. BayBG investment manager Andreas Heubl sums up as follows: "Within just a few years, Loyalty Prime has grown from being a start-up into a leading global provider of loyalty program solutions. Since 2014, the company has been continuously demonstrating that its products can successfully satisfy the strong demand for effective customer loyalty solutions. We are thus very pleased to welcome Loyalty Prime into our investment portfolio." Loyalty Prime founder and CEO Christoph Straub adds: "We are proud to have won BayBG as another experienced investor. We will use the additional capital to expand our high-performing, international team, push on with our product innovations and further expand our position as one of the world's leading providers of SaaS loyalty solutions." About Loyalty Prime https://www.loyaltyprime.com About BayBG http://www.baybg.de About Senovo About Unternehmertum Venture Capital Partners https://www.uvcpartners.com About Alexander Bruehl - SaaSgarage.com |