UK-based fintech startup, Upgrade Pack, has launched an equity crowdfunding campaign on Seedrs to raise £500,000. Founded in 2018, Upgrade Pack is described as a closed marketplace where airlines and hotels make discounted upgrades available to an exclusive membership consumer base. The company revealed:
“Our global users are the most valuable customers of some of the biggest financial services brands in the world; with innovative banks and credit card firms providing access on a subscription basis, delivering a differentiated loyalty mechanic. Through our technology platform, we create reciprocal value: our travel partners win, our financial services clients win, and our users win.”
Upgrade Pack also reported that through its AI capabilities, the technology integrates with banks’ existing systems to give customers live discounts and for banking clients Upgrade Pack’s platform does not require complex integration with their legacy technology. While sharing more details about the company’s growth and development, Craig Unsworth, Founder and CEO of Upgrade Pack stated:
“Since opening our doors in 2018, we have achieved several significant milestones. From £1m 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. We chose Seedrs alongside our existing conversations and investment routes because they have built a fantastic community and made equity investment more accessible. Our Beta offering means that these investors will also be our customers, providing an important additional connection beyond the investor/investee relationship.”
Funds from the Seedrs round will be used to drive global expansion in the U.S. and Asia, as well as extend Upgrade Pack’s AI capabilities. Since its launch, the crowdfunding campaign has raised nearly £250,000 from 25 investors. It is set to close later this spring.
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