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.
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