Propello, a Manchester, England-based company that provides a customer rewards platform, raised £650,000 in an investment round led by DSW Ventures.
The investment will allow the company to build a team of nearly 30 people by the end of 2023.
Propello has developed a white-label SaaS platform that offers customers a fully branded yet quick-to-implement 'plug-and-play' solution. The platform enables customers to easily build their rewards and partnership programs, increasing the value provided to their end customers and reducing churn.
Mark Camp, CEO, and founder of Propello said: "DSW have been incredibly generous and supportive with their time and advice since we founded the business. As a result, we have been able to hold off raising until we found our product market fit and felt that DSW, along with our co-angel investors, were exactly the right combination to execute our growth plans. We're excited to take Propello forward with their backing, with significant investment already underway in both the platform and team."
Propello has already built an impressive customer base including HelloFresh, JD Gyms, and British Business Bank. Weightmans LLP acted as legal adviser to DSW Ventures on the deal, with Hill Dickinson LLP and UHY advising Propello.
Company: Propello Cloud Limited
Raised: £.65K
Round: Unknown
Funding Month: December 2022
Lead Investors: DSW Ventures
Additional Investors:
Company Website: https://www.propellocloud.com/
Software Category: Customer Rewards platform
About the Company: Founded by Mark Camp and George Charlesworth after spinning out of integrated marketing agency Workhouse in 2020, Propello is a white-label reward-based loyalty and engagement platform designed to enhance value proposition, address churn, and boost loyalty. Propello was designed exclusively for enterprise organizations, providing a plug-and-play white-label loyalty solution with instant access to rewards and benefits from practically every major brand. It partners with over 1000 brands globally to enable its clients to go to market and scale programs rapidly.
Source: Pauline Rawsterne-Turquoise PR