Hungarian-founded software startup Antavo raises €10M in a Series A round

Customer loyalty software company Antavo has raised €10 million to accelerate its global expansion and to expand its clients base. The round was led by Hungarian Euroventures. Lead Ventures, iEurope, and Innovation Nest also participated. 

• Headquatered in London, Antavo was founded in 2012 by four Hungarians, Andy Nemes, Zsuzsa Kecsmar, Attila Kecsmar, and Andras Bencsik. The startup develops a no-code, API-centric platform that makes the loyalty program experience fully customizable and empowers loyalty and marketing teams to run their program internally, without IT help. 
• Among Antavo’s clients are such global companies as BMW, KFC, La Cage, Kathmandu, Luisaviaroma, and BrewDog.

“Antavo saw incredible growth last year, which, along with the dynamic loyalty program landscape change, brought us to a rebranding as Enterprise Loyalty Cloud. This refreshed position better encompasses the company’s goal and the support of our investors in our Series A round means we can continue to develop a powerful, world-first SaaS loyalty product that encourages and nurtures lasting brand love through differentiation and unique lifestyle engagement.”

Zsuzsa Kecsmar, co-Founder and Chief Strategy Officer of Antavo, comments. 

• The round was led by Bucharest-based venture capital firm Euroventures. The firm seeks to invest in medtech, big data, security, internet of things and technology sectors. Hungarian Lead Ventures, iEurope, and Polish Innovation Nest also joined the round. 
• Anvanto intends to use the funds to speed up growth and its international presence, to proceed reinvesting in its expertise for omnichannel capabilities and integration with extra apps and platforms.