Retail tech firm Ecrebo closes £12m from Air Miles and Nectar founder Keith Mills
Reading-based business will use finance to grow its team and fuel expansion across North America
Ecrebo, a retail point of sale (POS) marketing specialist, has raised £12m in funding from Air Miles and Nectar founder Sir Keith Mills and former head of Europea at Warburg Pincus Joseph Schull.
Started in 2010, Reading-based Ecrebo enables retailers to deliver targeted offers and messages to their customers at the checkout alongside their receipt.
The company claims to have processed more than £35bn in transactions through its platform to date and generated more than £500m in additional sales. Its customers include major retailers M&S, Waitrose and Pandora.
The finance will be used to fuel Ecrebo’s global expansion, with a particular focus on the North American market, as well as to bolster its team.
Dr Hassan Hajji, Ecrebo co-founder and CEO, said: “We are delighted to secure investment from Mills and Schull and to welcome them both to our board.
“Their long-standing retail expertise and investment experience will help to further enhance our product offering, recruit the best talent, and expand into North America, and beyond.”
“We’re really excited about the impact this investment will have on our customers, employees and our technology in helping us to reach our full potential.”
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Mills commented: “I am delighted to announce this investment in Ecrebo, who impressed me with their firmly-established credentials and leadership within the retail technology sector.
“[…] I am looking forward to working closely with the Ecrebo team in the coming months to help them grow the business both in the UK and internationally.”