Koin Rewards, which breaks the mould in the loyalty rewards sector by offering a loyalty crypto token (KOIN) that is value-enhancing and that puts the consumer first, is pleased to announce its first round of seed funding.
Headquartered in London, Koin Rewards is leveraging blockchain technology to provide customers with a scheme where supply and demand will define the value of rewards while working with merchants to ensure customer loyalty.
The company has recently secured its first seed funding of £350.000 from its founders, close associates and cornerstone investor Nigel Wray, who is also the Owner and Non-Exec Chairman of the current English Premiership rugby Champions Saracens F.C. He is a highly successful entrepreneurial investor in both public and private companies, including, Franchise Brands Plc, Simba Sleep, and many others.
Nigel Wray, who has to date predominantly invested in more ‘traditional’ companies, said: “Koin Rewards have an impressive management team with strong experience in the loyalty scheme market and their plans to reinvigorate it for the high demands of current consumers by creating a flexible and fluid scheme based on e-currency is very interesting and we are excited to be on board.”
Koin Rewards’ CEO, Curt Hopkins, added: “We are extremely pleased with our first round of seed funding and especially to have such a great entrepreneur as Nigel backing our business model and vision.
It is our mission to turn shoppers into loyal customers whilst giving retailers a way to differentiate using crypto tokens. These are exciting times for Koin and its team as we use the seed funding to finalise our product development, prototype and to sign up the Alpha Coalition, the company’s partnering merchants, retailers and brands.”
Koin Rewards will create a crypto token that will be launched on an exchange with an independent value allowing consumers to redeem the token when, where and for what they want unlike traditional loyalty schemes that lock customers in at unfavourable terms.
In comparison to other loyalty rewards company that have launched ICOs, Koin Rewards’ ICO will be launched after retailers and customers are already generating demand for KOIN. To achieve this, Koin Rewards is building a new retail loyalty program based on demands and needs of its Alpha Coalition and customers.
About Koin Rewards
Koin Rewards was founded in December 2017 in order to disrupt the loyalty sector and provide consumers a crypto token of utility, KOIN, where the value is defined by the popularity and engagement of its users to ensure increased engagement with the merchants.
Leveraging blockchain technology, Koin puts the customer at the centre of the loyalty scheme as its platform, benefits and back-end technology are all designed to meet needs of the members while it also supports the objectives of its Alpha Coalition.
Koin Rewards is headquartered in London and will launch its product Q1 2019.
For more information, contact:
PR Consultant Koin Rewards