Tech Crunch Sept 11
Roaming the noisy byways of TechCrunch Startup Alley I found a startup today that plans to create a new kind of mobile payment and loyalty platform. Yoyo has today – at Disrupt SF – announced it’s raised $1.2 million in a seed round to launch a platform designed to create – they say – a faster, simpler way to buy goods, via a mobile app, which also combines with an automatic loyalty point collection system. They plan to target high-volume, low-value transaction retailers. Think of the Starbucks mobile app and apply it to all retailers — this is Yoyo’s pitch.
Imperial Innovations Group, the technology investment group from Imperial College, put in an initial investment of $390,000. Yoyo will first launch in the autumn to students of Imperial College London — where 20,000 students and staff on its main London campus will buy, earn and share with Yoyo through 30 retail outlets — and at select London retailers.
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