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The Colombian startup Leal announced an investment round of US$10 million in a Series A that it will use to launch operations in Mexico. Raukten Capital, the investment arm of the Rakuten Group, and IDC Ventures co-led this round.
With this new capital, Leal will seek to achieve more than 1,000 alliances with Mexican retailers and reach 3 million local consumers in 2022. The company is dedicated to helping brands better understand their customers through consumer data analysis technology.
It is a customer retention trend within the fintech sector through loyalty or fidelity solutions. Brands offer discounts, offers and rewards to encourage frequent consumption. Through an API, Leal connects to billing and point-of-sale payment terminals. It then captures important data and consumption habits that are converted into analytics and business intelligence.
Leal was founded in Colombia by Camilo Martínez and Florence French in June 2016. Since then it has become a fast growing rewards network in Latin America.
Leal currently has a user base of more than 5 million people in the region and, according to company data, acquires 10,000 new users organically every day.
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