Yo! Barely an hour after posting about 5 (new) startups that we tipped for success, I got wind of the fact that one of the startups featured above, Loystar, recently won a pitch competition worth $3,177 (about 1,015,845.75 Naira) from the first ever #ArisePitch via Arise – a group of angel investors that seek to invest in innovative entrepreneurs and startups at a very early stage.
Six startups made it to finale of the competition but 9 month old Loystar was the star! Loystar is a merchant facing mobile app for businesses. Customers don’t need to own a smartphone or download any app to benefit from the business’s loyalty program. The app is set up to provide the simplest way for small and medium businesses to keep their customers coming back with loyalty programs and functionalities that engage customers, notify merchants of life events in the customers lives, save the cost of internet data in merchants operations among other benefits.
According to Arise, startups pitch their idea for 5 minutes and upon impressing the judges, stake 5% of their business for N1million; however, for now, details of equity stake in Loystar’s case is yet to be determined.
The other impressive startups that made the pitch and are worth a search were AwoofBox, PayConnect, MyPhotographr, Househelp.ng and Bolt Financial Solutions.