Loyalty specialist SQUID closes €1.69 million Crowdcube crowdfunding round, surpassing initial target.
Ireland-based digital loyalty platform, SQUID, has closed a crowdfunding campaign on Crowdcube, raising €1.69 million, and exceeding its initial target of €1.15 million to €1.35 million. The campaign attracted 2,624 investors.
Investor breakdown:
- Majority retail investors: 2,045 Irish investors participated, demonstrating strong local support.
- Broad age distribution: The campaign saw 900 investors (33%) aged 18-30, followed by 778 investors (31-40) and 521 investors (41-50).
- Balanced gender participation: 1,172 female investors, 1,443 male investors, and 66 identifying as other.
- Most common investment range: 905 investors contributed between €101-€500.
The funds raised will be deployed to accelerate the roll-out of Wave, SQUID’s next-generation universal points system, designed to streamline loyalty rewards across its network of over 2,000 business clients in Ireland and the UK. Additionally, it will use the investment to further expand into new markets and enhance its marketing tools for small businesses.
“We’re absolutely thrilled by the response to our crowdfunding campaign, which saw over 2,650 investors back SQUID’s vision for the future of loyalty,” said Matthew Coffey, CEO and CoFounder at SQUID. “This funding allows us to accelerate the roll-out of Wave and continue driving innovation in how businesses connect with their customers.”
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