Recruit Invests in Loyyal,Which Provides a Point Service Platform Utilizing Blockchain
Recruit Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President: Yoshihiro Kitamura; referenced below as "Recruit") , an intermediate holding company of Recruit Holdings Co., Ltd., has invested in Loyyal Corporation (Headquarters: San Francisco, USA; CEO: Gregory Simon; hereafter "Loyyal"), which provides a point service platform utilizing blockchain, through its investment subsidiary RSP Fund No. 6, LLC.
1. Background and Purpose
The importance of point services as a means for achieving customer engagement is increasing for small and medium size businesses as well as for large corporations. There remain issues with current point services, however, such as the high cost of system implementation and the difficulty of cooperating with other point systems. Loyyal provides the "Loyyal" platform utilizing blockchain to shorten the implementation period, minimize the initial implementation cost, and make it easy to cooperate among point systems.
Recruit plans for this investment to contribute to increasing the performance of Loyyal's products and accordingly plans to support expanded use of the service. Loyyal will use the funds from this investment to accelerate product development and sales activities.
2. Overview of Loyyal Corporation
Loyyal makes it easy to link the various independent point service systems to mutually exchange points with its original point account system and smart contract technology that utilize blockchain. In addition, it also provides the Application Programming Interface (API) with the functions required to implement a point service, so new points services can be built in a short time at low cost.
This service is currently being implemented in the airline, financial, and other industries and is expected to be used in a variety of situations including at hotels and for in-house incentives.
|(3)||Address||44 Tehama St, San Francisco, CA 94105|
|(5)||Main Business||Development and sales of a point service platform utilizing blockchain|
3. Overview of RSP Fund No. 6, LLC
The fund aims to discover new technologies and new business models, and to acquire business opportunities which are relevant to new business development for the Recruit Group.
|(1)||Company Name||RSP Fund No. 6 LLC|
|(3)||Address||8-4-17 Ginza, Chuo-ku, Tokyo|
|(4)||Established||November 12, 2014|
|(5)||Main Business||Investment development and venture capital|