Yoyo Wallet raises £12m in its Series B funding round led by Metro Group’s venture capital arm Horeca.
Woodford Investment Management and Touchstone Innovations also took part in the Series B round.
The company, founded in 2013, is a mobile app platform which allows retailers to access analytics and have a campaign platform, while offering loyalty cards to their customers.
Yoyo lets retailers’ customers make mobile ordering, payments and access to loyalty programs.
The retailer can use the Yoyo app or power their own with the platform to help understand their customers purchasing habits.
Yoyo Wallet co-founder and CEO Alain Falys said, “Yoyo is now delivering proven benefits to a rapidly growing number of merchants and their customers in Universities, Corporate Campuses and the High Street.
“This new funding will allow us to provide the benefits of customer identification and mobile engagement to a wider array of retailers, large and small, in the UK and across Europe. We could not have found a better combination of Investors to support us through this next stage of growth.”
Last year Cafè Nero launched its services on a Yoyo powered app across its 640 stores in the UK and Ireland.
Across the firms seed and Series A funding rounds, Yoyo Wallet has raised around £8.7m in capital commitments.
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