SAN FRANCISCO, July 31, 2019 /PRNewswire/ -- Loyyal, the industry leader in bringing the power of blockchain technologies to loyalty and incentive programs, announced today that it has received investments from three leading Asia-based firms, Unblock Ventures Limited - LINE Corporation's blockchain investment company, Recruit Co., Ltd., and Monex Group, Inc. Together, these firms provide Loyyal with unparalleled access to the Asian market for loyalty and incentives, among the largest in the world with over 80% consumer adoption across the Retail, Travel & Hospitality, and Services sectors. Also participating in this round is one of Loyyal's original Series Seed investors, Dubai-based Hayaat Group.
"We're extremely confident in Loyyal, and the company's approach, as this investment shows," said Matthew Lee, CEO of Unblock Ventures, subsidiary of LINE Corporation, "and the strength of various loyalty programs across Asia presents a unique opportunity for Loyyal in the market. With the strength of Loyyal's technology and intellectual property, we are excited to support Loyyal's efforts to expand their customer base in the region."
"We see Loyyal's blockchain technology along with growing partner network as the catalyst for the evolution of loyalty programs in Japan and throughout the region," said a Vice President with Recruit Strategic Partners. "We see a strategic opportunity to supercharge these programs among our local and regional partners by introducing Loyyal's unique capabilities, bringing both cost reductions and new sources of revenue to these program operators."
"Monex Group, through its investments and partnerships, is focused on the future of money, and Loyyal's platform presents the most capable approach we have seen to bring liquidity to the more than five trillion US dollars worth of value locked up globally in consumer's loyalty accounts" said Oki Matsumoto, Chairman and CEO of Monex Group, Inc. "There is a large market opportunity in Asia-Pacific for Loyyal, and we're excited to be part of expanding Loyyal's capacity here in Japan."
Greg Simon, CEO, and Founder of Loyyal said: "Having worked in Tokyo's banking sector for several years earlier in my career, I'm intimately aware of how powerful loyalty programs are in the region. This perspective factored greatly to our initial concepts when creating Loyyal, so it's a culmination of those aspirations to now have the support of Unblock Ventures, subsidiary of LINE Corporation, Recruit Co., Ltd., and Monex Group in expanding our growing client based across Asia-Pacific."
Loyyal, the Internet of Loyalty, is reinventing how loyalty is created, rewarded, and managed. Using proprietary blockchain and smart contract technology, Loyyal's interoperable loyalty and rewards platform brings a host of benefits to a highly fragmented industry and offers brands an innovative way to unlock the billions of dollars in value held captive in legacy loyalty programs today. For information about Loyyal, please visit www.loyyal.com or email [email protected].
About Unblock Ventures Ltd.
Established in Hong Kong, Unblock Ventures Ltd. invests in early stage blockchain technology companies. The company is owned by LVC Corporation - LINE Corporation's blockchain-focused subsidiary.
About LINE Corporation
Based in Japan, LINE Corporation (NYSE:LN/TSE:3938) is dedicated to the mission of "Closing the Distance," bringing together information, services and people. The LINE messaging app launched in June 2011 and since then has grown into a diverse, global ecosystem that includes AI technology, fintech and more.
About the Recruit Group
Founded in 1960, the Recruit Group creates and provides platforms that connect companies and consumers. Headquartered in Tokyo, Japan, the Group offers a wide range of services in a variety of areas including human resources, education, housing and real estate, bridal, travel, automobiles, dining and beauty. The Group has more than 45,000 employees and operates in more than 60 countries. For more information, please visit the company's website at https://recruit-holdings.com/.
About Monex Group, Inc.
Monex Group, listed in the Tokyo Stock Exchange, is a major online financial institution that operates retail online brokerages in Japan, US, China (including Hong Kong), and Australia. In addition, the Group offers business services in asset management, investor education, M&A advisory and international forex.
About Hayaat Group
Hayaat Group is a diversified principal investments group in a unique position to create growth and accelerate success. It partners with founders, management, and other stakeholders in accelerating, or maintaining value creation momentum through capital, capabilities and experience. The group's interests are diverse, ranging from next generation disruptors to real estate, urban regeneration, and asset management. Two decades in the Middle East and Europe has cemented Hayaat Group's reputation as one of the premier investment companies in the region. Please visit www.hayaatgroup.com for more details.
SOURCE Loyyal Corporation