The open banking loyalty app loyalBe is closing its consumer service and refocusing the company to target the B2B market.
The Belfast-based company will move its user base to Cheddar, a rewards and payment app for consumers. The business said that after carefully assessing our market positioning and long-term growth prospects, the decision to shift the focus to their B2B proposal was made. Users of loyalBe will receive emails and in-app notifications with comprehensive instructions on how to transfer rewards to Cheddar.
To expand into the Irish market, the business last raised EUR 1 million in April 2021. There is no information available about loyalBe’s user base’s size.