Octopus invests seven figures in customer engagement platform

 £4 million has been raised by Ecrebo to target more markets. 

 £4 million has been raised by Ecrebo to target more markets. 

Personalised customer engagement platform Ecrebo has announced a £4 million funding round from venture capital investors Octopus Investments.

Ecrebo’s technology extends the functionality of existing retail point of sale (POS) systems to give bricks-and-mortar retailers the tools to engage with their in-store customers on a personal level.

Founded in 2010 by Hassan Hajji and David Vernon, the business works with high-profile retailers such as Marks and Spencer and Shell and, to date, Ecrebo claims to have processed some two billion transactions and delivered 300 million customer engagements through in-store and digital channels.

The £4 million Series A funding round comes two years after an initial £1.2 million friends and family seed round.

The finance will be used to support Ecrebo as the company builds scale, in the US as well as the UK.

Hajji said: ‘We know that over 80 per cent of retail flows through bricks and mortar stores. Helping retailers understand and engage these in-store customers is an exciting opportunity, and Ecrebo is well positioned to deliver on this.’

Frederic Lardieg, a member of the Ventures team at Octopus, added: ‘At Octopus we’re always on the lookout for inspirational entrepreneurs building on fantastic ideas, and we’ve found that with David, Hassan and their team.

‘The numbers speak for themselves as to how this business has grown in just a few years, and we’re looking forward to working with the team as this product continues to develop and appeal to more retailers in more markets.’

Praseeda Nair

Kellen Rempel

Praseeda was Editor for GrowthBusiness.co.uk from 2016 to 2018.

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Venture capital funding