Owned it‘, the social referral platform that aims to increase revenues and conversions has secured £100,000 ($157,000+) in an investment from Finance Birmingham in the UK, and private investors.

The company hopes to use the money to develop and add new apps to Owned it’s existing suite of social and marketing apps.

One of the apps currently in development is the ‘Feedback app’ which is designed to capture the online shopping experience of customers. The information gathered can then be used to improve conversions and reduce the rate of cart abandonment.

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Along with this, Owned it is planning to extend the reach of promotions and offers via its various social channels.

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Finance Birmingham was launched in 2010. It’s a business loan fund which offers a £10 million package of loans to small and medium businesses based in the region. Birmingham City Council works alongside Finance Birmingham which is acting as an agent for the council to oversee the fund.

Image Credit: Phil Aaronson / Flickr