StrongRoom AI bought loyalty provider Member Benefits Australia in 2022 for $8.8 million and agreed to pay $600,000 in licensing fees for its loyalty program technology and $60,000 in monthly instalments. Strongroom AI knew Members Benefits was about to lose its biggest client making up 50% of its revenue; ASX-listed wholesaler and pharmacy chain Sigma Healthcare. StrongRoom AI collapsed because of alleged fraud.

Source: https://lnkd.in/gkm4vYE6