London based mobile payments and digital loyalty platform, Pepper, has closed a £1.1m investment with over £400k of investment by London Business Angels (LBA) and associated investors including the LBA EIS Roundtable Syndicate Fund 2015 and the £25M London Co-Investment Fund.
The Pepper platform allows companies to offer their own elegant fully branded apps for discovery, quick and easy mobile payments, digital loyalty and push marketing, all of which provide invaluable data to improve the customer journey and drive efficiencies in store. The platform is already being used by a number of well-known hospitality and retail businesses in London and across the UK, helping them to increase revenues and improve the overall customer experience. This round of funding will enable the company to bolster sales and technical resources. Harbottle and Lewis acted as the facilitating solicitor for this transaction.
Charles Hall, Pepper CEO, comments: “Working with LBA and LCIF has provided us with the investment we need for growth and brings with it well connected investors with a strategic interest. We have already seen the power of our current momentum, signing up four new customers in the UK and US.”
Puneet Bhatia, Fund Manager of the London Co-Investment Fund said, “Pepper is a fine example of London technology talent enabling fast, efficient and elegant digital enablement of retail businesses. We are delighted to support Pepper in rolling out its platform to retailers around the world.”
Anthony Clarke, London Business Angels CEO, comments: “Hospitality and retail businesses are coming under increasing pressure to embrace digital solutions and the Pepper platform offers an innovative white-label solution to this which can be easily scaled. The platform is already helping a number of businesses to improve their customer experience and this latest round of funding will enable the company to bring on board further technical and sales resources to support further growth. I am delighted that an LBA investment syndicate has anchored this over-subscribed round.”