Ecrebo secures £4m Octopus investment to take customer engagement platform global
Retail point of sale start-up currently works with likes of Marks and Spencer and Shell to “connect customers on a personal level”
Retail tech start-up Ecrebo has raised £4m Series A funding from Octopus Investments to supports its expansion in the UK and overseas in the US.
Founded in 2010, Ecrebo looks to help high street retailers to engage with their customers in a similar fashion to online stores by using existing Point of Sale (POS) terminals to allow shops to offer “ultra-targeted” engagement through the use of coupons, surveys and other services.
The retail specialist has attracted leading brands such as Marks and Spencers and Shell and claims to have processed over two billion transactions, with 300 million consumer engagements through in-store and digital channels to date.
This latest investment follows a previous £1.2m “family and friends” seed round in 2012.
Discussing its venture capital backing, Dr. Hassan Hajji, Ecrebo CEO and co-founder, said:
“We know that over 80% of retail flows through bricks and mortar stores. Helping retailers understand and engage these in-store customers is an exciting opportunity, and Ecrebo is well positioned to deliver on this”
Frederic Lardieg, a member of the Octopus ventures team, said:
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“The numbers speak for themselves as to how this business has grown in just a few years, and we’re looking forward to working with the team as this product continues to develop and appeal to more retailers in more markets.”