Embargo's Funding Round Fuels Growth of Customer Data Engine
London-based Embargo, the UK’s and Poland’s leading Customer Data Engine and loyalty superplatform for coffee shops, restaurants, bakeries, and other high street businesses, recently completed a £684K ($870,000) funding round. The funding round included participation from Opoka TFI, Pierre Decote, Pawel Fornalski, Tibor Pleiss, Andi Obst, and other angel investors. The platform, founded by Tsewang Wangkang and Frederick Szydlowski, aims to provide hospitality businesses of any size with customer-data and loyalty-driven technology. Embargo has experienced a remarkable 400% revenue growth in the past 24 months, despite challenging times for both technology startups and the hospitality industry. They have also expanded their offerings with new features such as delivery ordering, click&collect, staff tipping, POS integrations, and more.
Embargo's CEO and co-founder Tsewang Wangkang emphasizes the importance of driving retention and capturing high-quality data to actively manage the customer base.
Inflation and increasing costs for business owners have necessitated heavy investments in customer data and rewards technology, not just for major international brands, but also for small and medium-sized enterprises (SMEs). Embargo's multi-product strategy has proven to be effective in increasing customer frequency and reducing commissions for its partners.
Embargo addresses the need for data and loyalty solutions in the hospitality sector, just as major supermarket retailers, hotel chains, and airlines have done for years. However, unlike these major brands, Embargo provides a cost-effective solution that enables the majority of the hospitality market to launch their own customer data-driven digital loyalty cards, ordering systems, and CRMs within days. Investors such as Pierre Decote and Opoka TFI recognize the potential for Embargo to revolutionize the loyalty solutions market and help merchants deepen their relationship with customers through data.
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