Swapi - customer loyalty made better

by Startacus Admin
The lowdown on Swapi, the startup that enables users to swap their loyalty rewards, cashback & gift cards between brands.
Everyone likes loyalty points. They mean that every now and then we can get a free coffee, a free flight, a free something from the places that we frequent. We probably frequent these places because we like them, obviously, and so getting something for free is a simple and effective way to incentivise us to keep up our loyalty, make us feel appreciated, and perhaps shop there even more often, as well as to ensure that we are less likely to forget about that place or take our custom elsewhere.
It is a low cost system for the retailer that goes a long way. Of course, the downside for the customer is that loyalty points, in most cases, expire. We’ve probably all been in a situation where we think we’ll buy something that’s a little more expensive than we’d like only because we have loyalty points built up, only to find that those points have expired, and so we take it back out of our basket. We lose out on that thing we wanted and the retailer loses out on a sale. But what if we had points built up for another retailer that we’re not using, and could bring those over?
London-based startup Swapi wants to do just this - allow you to take your reward points earned in any of their partner retailers and use them in any of the others. Swapi says there’s £6 billion of unused loyalty rewards in the UK, and much of this will expire without ever being used. But by using their platform, you will unlock a whole digital high street of retailers across a wide range of sectors that you can use your loyalty points in at will.
This diverse range of brands is made possible because of the startup’s partnership with Eagle Eye, a leading rewards aggregator that gives them access to over 100 brands in the UK alone. This is beneficial to all parties, because the customer gets to spend their earned points wherever is most beneficial to them at the time, the original issuer reduces its outstanding points balance and doesn’t have to take that small hit when the points are redeemed, and the new redeemer gets a potentially new customer.
Just recently, they completed a Crowdcube campaign with £360,745 investment, 120% of their target. This, with their additional partnerships with Fidel and Network B, and with their bringing on Dragon and previous investor Brian Dunne as their CFO, has put them in a strong starting position ahead of their September launch.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Tech Nation calls for tangible support to secure capital, talent, growth and exits needed to accelerate the growth of UK tech in decade ahead.

Glasgow-based This is Milk seeks investment for Neve Learning, its cloud-based Ed-Tech platform that has inclusivity and accessibility at its core.

With the UK facing a clear digital skills gap, Amy Caton, Digital Talent and Impact Senior Manager at BT Group shares some insights on what businesses should do to close that divide.

The lowdown on Berlin-based Beazy and its innovative solution that helps teams to plan, produce and deliver creative content and helps businesses to connect with talented content creators.

The lowdown on Fluffy, the app offering dog training, 24/7 vet messaging and insurance to give pet owners peace of mind and support them with their pet care responsibilities.

Huckletree's new Web3 HQ aims to put London’s West End at the forefront of Britain’s tech superpower ambitions.

Leading sports marketing platform, OpenSponsorship announces move into music sector, the first new vertical industry for the trans-Atlantic martech business.

Kingussie High School scoops first place for Junior and Senior categories at this year’s Growing Future Assets Competition.

The lowdown on Manchester-based Arctic Shores and its innovative recruitment solution to help candidate potential count as much as skills and experience.

With the demand for tattoo removal now greater than ever, specialist NAAMA Studios makes a bid for a further £11m in funding.
Published on: 20th August 2021
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.







- Tech Nation report reveals UK Tech could quadruple in value by 2032 with right conditions 23rd Mar 2023 Tech Nation calls for tangible support to secure capital, talent, growth and exits needed to accelerate the growth of UK tech in decade ahead.
- Neurodiverse learning and training platform Neve shares major six-figure investment opportunity 22nd Mar 2023 Glasgow-based This is Milk seeks investment for Neve Learning, its cloud-based Ed-Tech platform that has inclusivity and accessibility at its core.
- Huckletree opens new London hub for tech companies pioneering Web3 solutions 16th Mar 2023 Huckletree's new Web3 HQ aims to put London’s West End at the forefront of Britain’s tech superpower ambitions.
- OpenSponsorship making its move into the music sector 16th Mar 2023 Leading sports marketing platform, OpenSponsorship announces move into music sector, the first new vertical industry for the trans-Atlantic martech business.