On February 27, 2017, Ecrebo, the UK retail POS marketing platform, announced that it has received £12 million Series B round of financing. The investors in this transaction include Air Miles and Nectar founder Keith Mills and former private head of international private equity firm Warburg Pincus, Joseph. Schull, the two investment institutions will join the Ecrebo board of directors, and the early investment institution Octopus Ventures also participated in the current round of financing and continued to serve on the board of directors.
Headquartered in 2010, Ecrebo is a retail POS marketing platform that enables retailers to offer targeted offers to customers at checkouts and digital receipts. Consumers can get relevant offers in a convenient way. Since its launch, Ecrebo's world's leading retailers have handled more than £35 billion in transactions and helped retailers generate more than £500 million in additional sales.
Ecrebo plans to use this round of funding to strengthen the technology development of its digital marketing platform and expand its business to the international market, especially in North America. At the same time, the company also plans to use part of the funds to expand the company's team. Previously, Ecrebo also received $6.3 million in Series A financing in October 2014; in August 2012, it received £1.2 million in angel round financing. As of now, Ecrebo has raised a total of $23.14 million.
Keith Mills, the investor in this round of financing, said: “We are very pleased to participate in Erebo's current round of financing. The company's reputation in the retail technology field and brand influence have left a deep impression on us. Ecrebo's technology has enabled retailers to develop a complete The marketing channel they control is that they can reach consumers in a one-to-one and personalized way. In the coming months, I look forward to working closely with Ecrebo's team to improve their business in the UK and international markets. â€
Esanbo co-founder and CEO Hassan Hajji said: "We are very pleased to receive funding from investors such as Keith Mills and Joseph Schull, and welcome them to join the company's board of directors. Their professionalism and investment experience in the retail sector will help We further enhance our products, recruit talented people and grow our business in North America and beyond."
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