Coniq, Europe’s leading provider of retail and shopping mall loyalty and CRM solutions, has announced completion of a £2.3M funding round, extending the company’s total capital raised to over £9.5M.
New investors, Lepe Partners, have joined Coniq’s founder, Ben Chesser, and the business’ first-round investors, including Venrex Investment Management and Samos Investments, in this closing.
The latest round will support Coniq’s commitment to strengthening its client services and senior management teams as the company delivers on its expansion into Middle Eastern and American markets, and continues its product development roadmap.
Ben Chesser, Chief Executive of Coniq, said: “Coniq currently operates in 16 countries, providing mobile-enabled programmes for over 750 retail brands across 3,000 locations. Its programmes are used by more than 15 million customers generating over €1BN of additional client sales annually. We are already recognised as one of Europe’s leading Proptechs in the retail loyalty sector and we are delighted to be partnering with Lepe as we expand our offering into new territories.”
Lepe Partners is an independent merchant bank focused on the media, internet and consumer sectors. Lepe combine corporate finance advisory and principal investment practices, dedicated to unlocking growth for their clients and investors.
Frederik J. Jacobs, Managing Director at Lepe Partners, said: “We are delighted to be working with Coniq. We invest in companies with the potential to become category leaders in a clearly defined sector, and we believe Coniq has the ability to deliver this on a global scale in the retail loyalty sector.”
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