Imperial Innovations, the tech transfer unit of Imperial College London, has co-founded a smartphone app developer firm called Yoyo.

The firm is launching with £250k ($380k) in backing from Innovations, which is seeking to bring in additional external investment to bring the total funding to over $1.2m.

The app, which marries consumer loyalty programmes with mobile payments, was developed by Innovations’ entrepreneur in residence Alain Falys, and co-developed with a team of senior-level entrepreneurs at Visa, PayPal, and Barclaycard.


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