Lithuanian customer loyalty startup Boomio raises €550k for European expansion

The Vilnius-based startup Boomio has raised €550,000 in a follow-up funding round to improve the customer loyalty market. Lighthouse Ventures is the lead investor, EU-Startups informs.

• Boomio was founded in 2021 by Jonas Davalga and Adomas Urbanavicius. It develops a sales growth, loyalty, and customer acquisition platform for SMEs in retail and e-commerce.
• The online platform and mobile app allow businesses to create their own rewards and loyalty systems for a few hours, instead of weeks, as well as to manage them in one place.

“We see huge potential in what the Boomio team is working on and the ability to bring added value to the number of small and medium-sized businesses,”

Robert Reich, Investment Manager at Lighthouse Ventures, comments on the investment.

• Lighthouse Ventures, the Prague-based fund, led the €550,000 round. It is an early-stage and acceleration venture capital fund that focuses on tech projects in the CEE market. A syndicate of four European angel investors also joined the round.
• In 2021, the startup received an investment of €215,000 from two Baltic VC funds, namely 70V and Startup Wise Guys.
• Boomio will use the new capital to grow its team, as well as improve their product and expand to the German market.