London based mobile payments and consumer loyalty company Yoyo Wallet has raised £12m in Series B funding led by Metro Group. Launched in 2013, Yoyo allows customers to do fast and simple mobile ordering on the app, payments, and get a personalised loyalty program, while retailers get an analytics and campaign platform.
This is either through the Yoyo app or via retailer-specific branded apps built and powered by Yoyo. It’s had success with a Yoyo-powered mobile app for Caffè Nero which now works across 640 stores in the UK and Ireland. Alain Falys, Co-Founder and CEO of Yoyo Wallet said: “Yoyo is now delivering proven benefits to a rapidly growing number of merchants and their customers in Universities, Corporate Campuses and the High Street… We could not have found a better combination of Investors to support us through this next stage of growth.” Yoyo had previously raised Seed and Series A rounds totalling £8.7 million. It now has more than 400,000 registered users; and an acceptance network in excess of 1,700 outlets including Caffè Nero and Planet Organic.