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Swoop has created a market-leading Software-as-a-Service (SaaS) platform called Colateral, enabling retailers and brands to manage their in store marketing campaigns, cutting waste and driving sales.

Colateral already has an impressive client list boasting some of the UK’s leading retailers including Tesco, Waitrose, Mothercare, Paddy Power and WH Smith.

The tech company has raised a £1.45 million Series A round of investment, including £600,000 equity investment from the CIOSIF. The deal will create 34 jobs over the next three years.

The package includes funding from existing corporate investor, SMP Group PLC, and £250,000 via The FSE Group Investor Network. The FSE Group is the appointed CIOSIF fund manager.

Robert Salvoni, Swoop Chairman, said: “We are delighted to have received this funding from CIOSIF and our private investors, which will enable us to grow the team to support expansion in the UK and overseas, and to further develop the product.”