Point of sale company Ecrebo receives $15 million in funding
Ecrebo, the UK-based point of sale marketing platform, announced on Monday that it has received $15 million in Series B funding, led by Octopus Ventures, Air Miles and Nectar Founder Sir Keith Mills as well as Joseph Schull, former Head of Europe for Warburg Pincus. Mills and Schull will also join the company Board of Directors alongside Founders, Dr Hassan Hajji and David Vernon.
The Series B funding will support the company’s increased investment in product and technology development for its digital marketing platform, and will help accelerate its global expansion. Ecrebo has increased its attention on North America since entering the American market in 2016.
Launched in 2010, Ecrebo enables retailers to send targeted marketing and communication tailored specifically for a customer based on their previous purchases. The company partners with brands such as Uniqlo, Pandora, Topman, and M&S, and it has processed close to $40 billion in transactions and generated over $600 million in sales.
“I am delighted to announce this investment in Ecrebo, who impressed me with their firmly-established credentials and leadership within the retail technology sector,” said Sir Keith Mills. “Ecrebo’s technology gives retailers the ability to open up a marketing channel that is fully retailer-owned, enabling them to reach all their customers and engage them on a one-to-one basis in a way which is personalised, rewarding and convenient. I am looking forward to working closely with the Ecrebo team in the coming months to help them grow the business both in the UK and internationally.”
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