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Prepping for October launch, London-based loyalty e-wallet app Swapi grabs £860K funding

Image credits: Swapi

London-based loyalty e-wallet platform, Swapi, which lets people swap their loyalty points between popular brands. has grabbed £860K in pre-seed funding ahead of its launch in October 2021.

To launch app in October

The startup is funded by a slew of backers including private investors, a crowdfunding round, and a considerable investment from Trampoline Ventures, which has invested in other exciting names in the tech industry such as Gousto, Mediquo, a Spanish and Latinamerican telemedicine platform, Argentinian cryptocurrency payments platform Lemon Cash and Singaporean BNPL startup Octifi.

Swapi will use the funds ensures that the Swapi app is fit for a global rollout early in the new year, with the team eager to revolutionise not just the British retail experience but kickstart a worldwide evolution of more rewarding retail loyalty. Besides helping to bring the app to market, it will also ensure that Swapi gets a strong customer experience and provides the means to expand its growing team.

Apart from the financing, Swapi announced the appointment of Carolina Paradas-Mandato, previously Global Senior Affiliates & CLO Manager at Harvey Nichols, as its new Head of Strategic Partnerships. Carolina will be in charge of expanding Swapi into new and exciting international territories as well as handling all affiliate relationships with over 100 brands on board the app, including HelloFresh, Missguided, and Europcar among others.

Swapi’s founder and CEO Pete Howroyd said: “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. 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.”

Revolutionises loyalty

Founded by Pete Howroyd in 2020, Swapi is on a mission to revolutionise loyalty for the better when it launches next month. It will provide British consumers with an all-in-one e-wallet for their payment and loyalty cards.

Also, it will provide customers and retailers with a brand-new currency called ‘Swapi Points’ to spend on rewards, coupons, and discounts on the app, irrespective of which retailer the customer has accrued their points with. By collecting Swapi Points with a host of leading retailers, hotels, airlines and more, customers can then spend their loyalty points in a way that suits their needs and lifestyle.