Rewardle signs deal with La Porchetta

Technology services provider Rewardle Holdings will provide its platform to Italian restaurant chain La Porchetta under a new agreement with a six-year term.

In a statement today, Rewardle said the service agreement involved providing its product to an initial six restaurants in February and, if successful, rolling it out to La Porchetta’s chain of about 70 restaurants.

“The use of the Rewardle platform by La Porchetta beyond the pilot phase will be on standard commercial terms ($49 per subscription per restaurant), which will represent more than $40,000 per annum of recurring merchant subscription revenue,” Rewardle said.

Founder and managing director Ruwan Weerasooriya said the signing of the company’s largest chain deal to-date so early in the new year meant strong growth achieved last year was gaining momentum.

Shares in Rewardle were up 5 per cent to 21 cents per share at the close of trade.