Cyder, a Toronto, Canada-based loyalty platform for credit unions, raised CAD $1.5 in pre-seed funding.
The pre-seed round included investments from MaRS Investment Accelerator Fund (IAF), Desjardins, Aperture Group, and investor and Dragons’ Den star Arlene Dickinson along multiple other angel investors.
The funding will be used to grow and scale Cyder’s loyalty platform.
Cyder has launched a new loyalty platform, called Cyder Rewards, which allows credit unions to redeem and issue rewards to members, onboard local businesses as loyalty partners, and integrate donation options for local charities and causes. The platform is designed to be simple to use so credit unions and partnered merchants can easily launch campaigns.
Founded in 2021 by Will Christodoulou and Sukhman Dulay, Cyder initially developed a data platform that helps banks ethically acquire real-time data. Now, the startup has expanded its focus to include loyalty solutions tailored to credit unions’ needs. With proven demand in the space, Cyder plans to scale its platform and bring community-centered loyalty programs to Canadian credit unions.
FinSMEs
09/12/2024