Cyder Raises CAD$1.5M in Pre-Seed Funding
Summary
The pre-seed round included investments from MaRS Investment Accelerator Fund (IAF), Desjardins, Aperture Group, and investor and Dragons’ Den star Arlene Dickinson along multiple other angel investors. Cyder has launched a new loyalty platform, called Cyder Rewards, which allows credit unions to redeem and issue rewards to members, onboard local businesses as loyalty partners, and integrate donation options for local charities and causes. The platform is designed to be simple to use so credit unions and partnered merchants can easily launch campaigns. Now, the startup has expanded its focus to include loyalty solutions tailored to credit unions’ needs. With proven demand in the space, Cyder plans to scale its platform and bring community-centered loyalty programs to Canadian credit unions.