South Africa’s Loyal1 Bags USD 34 K In Workspace- MiWay Competition

By  |  September 17, 2018

Loyal1; a South African loyalty management platform, has landed over USD 34 K in cash prizes as winners of The Workspace/MiWay Business Insurance Entrepreneur Competition. Loyal1 emerged from the contest with most of the spoils after seeing off competition from four other startups who made it to the finals of the competition.

Founded by Tshireletso Hlangwane, Loyal1 is a cloud-based loyalty management platform for small and medium-sized businesses. On the backs of their victory, the startup which was founded is now entitled to the cash reward, as well as up to 12 months free office space from The Workspace, and a number of other benefits from Web Artist, Opulentus Wealth, and Oxigen. Second and third positions at the competition were snapped up by Sindi’s Best For All and Minatlou Trading 251 respectively.

Speaking on the development, Mari Schourie, CEO of The Workspace, revealed that all the finalists in the competition did give them a lot to think about with a myriad of special offerings on offer, but something was outstanding about the Loyal1 platform.

According to her, the competition’s jury had to take a critical look at each of the finalists, so as to be able to grasp the difference-making potential of the businesses fully. She remarked that the Loyal1 team displayed very sound reception of all the concepts exposed and they are deserving winners on account of their performance in the various pitch sessions.

Willie du Plessis, Head of Sales at MiWay Business Insurance, reiterated that the offering from Loyal1 was unanimously adjudged to have bested others regarding viability, market potential, financial feasibility, and ROI. She also hinted at the passion and belief which was evident in all the pitch sessions of the eventual winners as being instrumental, while stressing that the well-planned strategy and financial forecast of the Loyal1 platform make it a good fit for both private and business sectors. According to her, Tshireletso’s Loyal1 has the potential to revolutionize rewards scheme systems and bring about a broader market reach.

This development was first reported by FA news.

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