Boston-based mobile loyalty app provider LevelUp, which allower users to make purchases by scanning their phones to make purchases at select businesses, has raised $7.5 million in funding, Boston Business Journal reported on September 26.
LevelUp’s last round puts the company at a value of $172 million. Known for its loyalty program, LevelUp offers users a discount on their first visit, and discounts are awarded to those who continually return to a specific merchant. Merchants enjoy zero credit card fees, and LevelUp profits when consumers are rewarded monetarily by these merchants.
According to LevelUp, 5,000 merchants accept these payments and 1 million consumers use the mobile app.
For more on LevelUp’s new funding, click here.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.
