New York-based blockchain innovator Loyyal has closed its Series A funding round which was led by Integrated Networks.
Other contributors to the round included UAE Exchange, Hayaat Group, Day One Investments, among others.
Hayaat is a return investor, having initially led the company’s $1.5m seed investment round last year.
The company is a loyalty rewards program built with blockchain and smart contract technology to help offer dynamic rewards for customers to increase program ROI.
With the capital, Loyyal will complete the development of its platform and accelerate its market strategy alongside long term advisor and first client Deloitte.
Loyyal CEO and co-founder Greg Simon said, “This new capital, our third round of fundraising, will allow us to complete production of our live platform into a fully scalable and robust blockchain-based loyalty solution to meet increasing enterprise demand worldwide.
“These new strategic investors including iNet, UAE Exchange and Day One Investments will help us expand into new regions and industries.
“It is important to Loyyal to secure both US and International investment that supports our strategy to be the first truly global and universal platform in the loyalty and rewards industry, the Internet of Loyalty.”
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