Boodil, a Manchester, UK-based provider of an open banking payments and consumer engagement app, raised £525k in Pre-Seed funding.
The round was led by Louis and Reg Rix, Anthony Morrow, Gary Corbett, 3B4 Investments and Ben Luscombe.
The company intends to use the funds to scale its solution.
Boodil is an open banking payments business with a consumer engagement application. The company rewards customers every time they spend with the app with redeemable points which can be used for rewards and prize draw entires. Customers are incentivised to utilise Boodil as their preferred payment method by earning points for their purchases, which they can later redeem for rewards along with the option to enter various prize draws, inclusive of holidays, vouchers, and electronic goods.
The cardless payment method is launching in Q4 2022.