Koin Rewards, a blockchain loyalty play targeting the UK market has successfully closed its seed funding round, raising £350,000.
Included as the cornerstone investor is Nigel Wray, Owner and Non-Exec Chairman of the current English Premiership rugby Champions Saracens F.C. He is a highly successful entrepreneurial investor in both public and private companies, including Franchise Brands Plc, Simba Sleep, and many others.
Nigel Wray, who has to date predominantly invested in more ‘traditional’ companies, said: “Koin Rewards have an impressive management team with strong experience in the loyalty scheme market and their plans to reinvigorate it for the high demands of current consumers by creating a flexible and fluid scheme based on e-currency is very interesting and we are excited to be on board.”
Koin Rewards will apply lessons learned from observing earlier blockchain loyalty plays, who have invested heavily in their platform solution, only to struggle in attracting merchants and members to scale the program.
The Koin Rewards team are spending much of their time building relationships with quality retail partners in the UK, and are confident when they launch the program will already have solid demand for their tokens thanks to an enviable coalition of partners.
Philip Shelper is an advisor to the Koin Rewards ICO and holds equity in the business.
Philip Shelper is a specialist loyalty consultant based in Sydney, Australia who obsesses about everything to do with loyalty and rewards. His company Loyalty & Reward Co are a leading loyalty consulting firm.
Phil is the author of “Blockchain Loyalty: Disrupting loyalty and reinventing marketing using cryptocurrencies.”
www.blockchainloyalty.io is a global resource centre for everything blockchain loyalty.
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