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Software-as-a-Service (SaaS) platform Loyalty Prime has secured a Series A round of funding from a consortium of investors, including Munich-based early stage fund Senovo, Unternehmertum Venture Capital (UVC) and angel investor Alexander Bruehl, the company said in a statement on Tuesday.
The company will use the funds to expand its business across Europe, the US and Asia in a phased manner, “India [is] clearly on the roll out map to become a key market for us,” a company spokesperson told TechCircle in an email.
Loyalty Prime was founded by Munich-based Christoph Straub and New Delhi-based Kunal Mohiuddin in 2014. The firm runs cloud-based loyalty programmes for small, medium and enterprise clients, such as Fraport AG, TRW ZF and Preferred Hotels & Resorts, among others.
Before launching Loyalty Prime, Mohiuddin co-founded NetCarrots Loyalty Services in 2000, which…