Upgrade Pack crowdfunds towards £2.25m
London-based loyalty start-up Upgrade Pack has launched a £2.25 million funding round with a £500,000 seed round through investment platform Seedrs.
Upgrade Pack looks for the best discount premium travel offers
The raise is planned to drive expansion in the US and Asia, while extending Upgrade Pack’s artificial intelligence (AI) capabilities. This second round follows a £1 million raise in pre-seed funding earlier this year.
“From £1 million raised in our pre-seed funding round, to Upgrade Pack becoming the first UK tech company to give all employees equity within six months. This is the next step on our exciting path towards launch in April,” comments Craig Unsworth, founder and CEO of Upgrade Pack.
He adds: “Our beta offering means that these investors will also be our customers, providing an important additional connection beyond the investor/investee relationship.”
The funding round on Seedrs launched today (4 March) and will run for 60 days.
Investors will be able to access Upgrade Pack’s beta app on a sliding scale relative to investment – from one year to a lifetime membership. This product will give them access to exclusive flight and hotel upgrades.
Upgrade Pack aims to help bank and financial services firms retain “high value” customers. Initially available as part of premium bank account or credit card offering, or as an employee reward, it works on a cost-per-user subscription basis, enabling its clients to reward their most valued customers.
The firm’s closed marketplace technology connects airlines and hotels with travellers, so they can afford to purchase discounted premium seats and rooms.
Through AI capabilities, the technology integrates with banks’ existing systems as a Platform-as-a-Service (PaaS) model.
