# LoyalBe

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/loyalbe

- Industry: Financial Services
- Headquarters: Belfast, Ireland
- Website: www.loyalbe.io
- Total disclosed funding: $1.1M
- Latest round: Seed (Apr 14, 2021)
- Investors on record: 2

## About

Based in Belfast, Ireland, and founded in 2018 by its CEO, Mr. Cormac Quinn, LoyalBe Ltd. operates as a fintech company that allows customers to automatically earn rewards simply by paying with their bank card. In April 2021, loyalBe Ltd. raised GBP 725,000 in seed funding led by Techstart Ventures, with participation from Co-FundNI and individual investors. As of January 2022, the company operates in Belfast and Dublin.

LoyalBe Ltd. offers a personalised reward system that allows customers to earn rewards just by paying with their bank card. Its platform replaces loyalty cards and QR codes with an application that links up with a customer’s bank account. When customers spend with their debit cards, the application totals up their loyalty rewards. It enables local businesses to offer rewards, provides data-driven marketing tools, and allows them to get to know their customers. The company's application, loyalBe-Simple Rewards, is supported on iOS and Android devices.

The company generates revenue by charging a monthly fee for digital loyalty card solutions and commission on any rewards earned on the Cashback solution.

LoyalBe Ltd. will use the seed funding to build partnerships and upscale its marketing efforts within Ireland.

## Funding rounds

- Seed, Apr 14, 2021, $1M — Clarendon Fund Managers, Techstart Ventures
- Seed, May 14, 2019, $0.1M — Techstart Ventures

## Investors

- Techstart Ventures (https://capitalatlas.ai/funds/techstart-ventures) — Seed
- Clarendon Fund Managers (https://capitalatlas.ai/funds/clarendon-fund-managers) — Seed