UK’s retail point-of-sale (POS) marketing company Ecrebo has raised £12m in funding to accelerate its global expansion, with a primary focus on North America.
Raised from Air Miles and Nectar founder Sir Keith Mills and former Warburg Pincus Europe head Joseph Schull, the funding will also support increased investment in product and technology development for the company’s digital marketing platform.
Mills said: “Ecrebo’s technology gives retailers the ability to open up a marketing channel that is fully retailer-owned, enabling them to reach all their customers and engage them on a one-to-one basis in a way which is personalised, rewarding and convenient.”
European venture capital investor and existing investor Octopus Ventures is also participating in the investment round.
Using Ecrebo’s new technology platform retailers will be able to deliver targeted offers and messages to customers at the checkout alongside their receipt.
Processing more than £35bn retail transactions since 2010, the platform is believed to have generated more than £500m in additional sales.
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Ecrebo co-founder and CEO Dr Hassan Hajji said: “We are delighted to secure investment from Sir Keith Mills and Joseph 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.”