Koin Rewards snags seed funding, eyes ICO
Summary
London-based blockchain loyalty startup, Koin Rewards, has announced its first round of seed funding. The company, which provides a crypto token of utility, KOIN, where the value is defined by the popularity and engagement of its users to ensure increased engagement with merchants, has pulled in £350,000 from its founders, close associates and Nigel Wray, the Owner and Non-Exec Chairman of the current English Premiership rugby Champions Saracens FC. Wray, who has to date predominantly invested in more ‘traditional’ companies, says: “Koin Rewards have an impressive management team with strong experience in the loyalty scheme market and their plans to reinvigorate it for the high demands of current consumers by creating a flexible and fluid scheme based on e-currency is very interesting and we are excited to be onboard.” Koin Rewards’ CEO, Curt Hopkins, adds: “We are extremely pleased with our first round of seed funding and specially to have such a great entrepreneur as Nigel backing our business model and vision.” “It is our mission to turn shoppers into loyal customers whilst giving retailers a way to differentiate using crypto tokens. To achieve this, it is building a new retail loyalty programme based on the demands and needs of its Alpha Coalition and customers. Disclaimer: The views and opinions expressed by the author should not be considered as financial advice.