Ribbit.me reports that it has rebranded as Loyyal to better reflect the underlying industry and the company’s business objectives.
Loyyal has built a loyalty and rewards platform using distributed ledger and smart contract technology, introducing frictionless interoperability to the currently fragmented industry.
Greg Simon, Loyyal CEO and co-founder, commented:
“As our company has evolved in such a short period of time, we feel that the name Loyyal better represents who we are and what we do.”
Sean Dennis, COO and co-founder, added:
“We seek to increase loyalty program operator’s ability to dynamically incentivize each customer uniquely by removing technological barriers, so a twist on the word loyal is a perfect way to reinforce our message.”
Loyyal received a seed investment of $1.5 million from the Hayyat Group in February 2016.