Investments from Recruit and Monex provide strategic access and growth opportunities in Asia’s leading loyalty program markets
SAN FRANCISCO, Feb. 4 2019 — Loyyal, the industry leader in bringing the power of blockchain technologies to loyalty and incentive programs, announced today that it has received investments from two leading Japanese firms, Recruit Holdings Ltd, and Monex Group, Inc. Together, these firms provide Loyyal with unparalleled access to the Japanese market for loyalty and incentives, among the largest in the world with over 80% consumer adoption across the Retail, Travel & Hospitality, and Services sectors. Also participating in this round is one of Loyyal’s original Series Seed investors, Dubai-based Hayaat Group.
“We see Loyyal’s blockchain technology along with growing partner network as the catalyst for the evolution of loyalty programs in Japan and throughout the region”, said Yuki Tanaka, Vice President with Recruit Strategic Partners. “We see a strategic opportunity to supercharge these programs among our local and regional partners by introducing Loyyal’s unique capabilities, bringing both cost reductions and new sources of revenue to these program operators.”
“Monex Group, through its investments and partnerships, is focused on the future of money, and Loyyal’s platform presents the most capable approach we have seen to bring liquidity to the more than five trillion US dollars worth of value locked up globally in consumer’s loyalty accounts” said Oki Matsumoto, Chairman and CEO of Monex Group, Inc. “There is a large market opportunity in Asia-Pacific for Loyyal, and we’re excited to be part of expanding Loyyal’s capacity here in Japan”.
Greg Simon, CEO, and Founder of Loyyal said: “Having worked in Tokyo’s banking sector for several years earlier in my career, I’m intimately aware of how powerful loyalty programs are in the region. This perspective factored greatly to our initial concepts when creating Loyyal, so it’s a culmination of those aspirations to now have the support of both Recruit Holdings and Monex Group in expanding our growing client based in Japan, and across Asia-Pacific at large.”
Loyyal, the Internet of Loyalty, is reinventing how loyalty is created, rewarded, and managed. Using proprietary blockchain and smart contract technology, Loyyal’s interoperable loyalty and rewards platform brings a host of benefits to a highly fragmented industry and offers brands an innovative way to unlock the billions of dollars in value held captive in legacy loyalty programs today. For information about Loyyal, please visit www.loyyal.com or email [email protected].