Cyder, a Toronto, Canada-based loyalty platform for credit score unions, raised CAD $1.5 in pre-seed funding.
The pre-seed spherical included investments from MaRS Funding Accelerator Fund (IAF), Desjardins, Aperture Group, and investor and Dragons’ Den star Arlene Dickinson alongside a number of different angel traders.
The funding shall be used to develop and scale Cyder’s loyalty platform.
Cyder has launched a brand new loyalty platform, known as Cyder Rewards, which permits credit score unions to redeem and challenge rewards to members, onboard native companies as loyalty companions, and combine donation choices for native charities and causes. The platform is designed to be easy to make use of so credit score unions and partnered retailers can simply launch campaigns.
Based in 2021 by Will Christodoulou and Sukhman Dulay, Cyder initially developed an information platform that helps banks ethically purchase real-time information. Now, the startup has expanded its focus to incorporate loyalty options tailor-made to credit score unions’ wants. With confirmed demand within the house, Cyder plans to scale its platform and produce community-centered loyalty packages to Canadian credit score unions.
FinSMEs
09/12/2024
