Qiibee closes seed round with over $3 million

06.02.2018 10:35

Changing its business idea to a decentralized, Ethereum based loyalty ecosystem loyalty platform has paid off for qiibee. With the first client and strategic partner on board, qiibee has now raised additional 3.25 million USD from its token sale.

Following the closing of their seed financing round from industry players including Daniel Grossen, founder of online marketplaces Scout24, qiibee  has raised additional funds from its token sale. With 60 contributors, the startup raised aggregated value of 3.25 million USD from the sale of more than 65 million QBX Tokens.

Last year, qiibee joined the crypto world with its decentralized, Ethereum infrastructure-based loyalty ecosystem. The startup designed a loyalty platform and developer interface on which every loyalty application can be tokenized.

Users and applications built on qiibee’s infrastructure benefit from for increased data security, lower management costs, no liabilities compared to traditional loyalty models, and no resources needed for the development of smart contracts or the integration of a Blockchain. Moreover, qiibee users are exempt from a central data authority, receiving tokens with a real value instead of the traditional point system. The decentralised solution hence gives users with the freedom to exchange these tokens within the qiibee ecosystem.

The solution has already been applied by the first client, Lattesso, a leading producer of iced coffee. Lattesso and qiibee signed a collaboration to reward the cold coffee drinkers in 7 different countries for every sip they take. According to qiibee’s blog post, “Lattesso is one of the first major clients who will adjust their loyalty program and built it on the qiibee technology to reward their customers. Lattesso drinkers will be able to exchange their loyalty tokens for other brand tokens within the qiibee ecosystem or exchange them into other crypto or domestic currencies.”

Furthermore, the strategic partnership with MindNow aims to bring more brands on qiibee’s platform. Paul Saija, CEO of MindNow says that there is great interest from major industry leaders from the retail, financial & tourism industry and lifestyle brands.


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