UK-based FinTech startup Upgrade Pack has closed a $1.5m round and acquired a new chairman in the process.
With the new money in place, the total funding into the loyalty platform company has reached $4.1m. Moreover, it brings the valuation of the company to $18m. Upgrade Pack was launched in 2018.
On the back of the new investment, Upgrade Pack has the aim to expand into North America and Asia-Pacific. Upgrade Pack is also announcing two new hubs to drive the international growth – one in Toronto and the other in Singapore
The investment of new capital comes after Upgrade Pack launched a crowdfunding campaign on crowdfunding platform Seedrs in April. That round closed with £500,000 new funds in the company’s coffers.
Angel investor David Brownlow will also join the company’s board of directors as its new chairman. He is the co-founder of Huntswood, the resourcing firm and Havisham Group, the investment group. “Having someone of David’s calibre and experience will be invaluable as we expand into North America, and Asia Pacific this year,” said Craig Unsworth, founder and group CEO of Upgrade Pack.
The startup’s main product is an app that connects users to airline and hotel APIs. This enables them to access live, premium seat and room upgrades at a typical saving of 15 per cent to 35 per cent through its closed online marketplace.
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