Szeged-based tech company Antavo closes 10 million Euro fundraiser

Image: Blake Wisz / Unsplash

Szeged-based customer loyalty tech company Antavo announced the successful closing of a EUR 10 million fundraiser led by Euroventures, together with Lead Ventures, iEurope, and Innovation Nest, as well as private investors including Zoltan Vardy. The funds raised will empower the loyalty technology provider to expand globally and further develop its best-in-class SaaS platform.

Antavo was founded in 2012 in London by four Hungarian co-founders and has subsidiaries in locations worldwide - including Szeged, Hungary. The tech start-up quickly reached the point of serving enterprise-level companies from all over the world and in 2022 has 3.2X year-on-year growth, with global brands like BMW, KFC, Kathmandu, and BrewDog among its customers.

Zsuzsa Kecsmar, Co-Founder and Chief Strategy Officer of Antavo, was interviewed live on Sky News by Ian King about the details of the fundraiser.

Given the emerging global recession, customer loyalty is becoming the top priority for businesses. Attila Kecsmar, Co-Founder and CEO of Antavo said, “All enterprises today need more creative and direct ways to engage their customers beyond transactions to keep their market share, even if the spend is declining precipitously. In the post-pandemic world, loyalty programs are having a renaissance in providing this embedded brand love. Antavo understands this, as do our investors, and we are excited to receive their backing.”

According to Fortune Business Insights, “the loyalty management market is forecast to be worth $24B by 2029 due to rising consumer demand for personalised solutions”. Similarly, Antavo’s Global Customer Loyalty Report 2022 found that 82% of businesses plan to double down on loyalty in the next three years.

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