My most recent business venture was in the software industry, which I co-founded with my business partners in April 2005. In 2004, I subscribed to several business and retail publications and became intrigued by a company called Dunnhumby. Dunnhumby was the driving force behind Tesco’s Clubcard, using data analysis to provide Tesco with valuable insights into its customer base. At that time, in the early to mid-2000s, Tesco was expanding its footprint in Ireland, putting unprecedented competitive pressure on independent supermarkets.

Based on my previous experience, I understood the importance of a loyal customer base. Observing Dunnhumby, I recognized the value of capturing demographic data (through loyalty program sign-ups) and matching it with customer transaction data. However, I found Tesco’s Clubcard model—particularly the postage component—cumbersome, costly, and time-consuming, making it impractical for independent retailers to replicate. I explored solutions, I discovered Catalina Marketing, a U.S.-based company that had developed a smart printer capable of printing coupons based on a customer’s current transaction.

This discovery further refined my thinking. I envisioned creating a company centred around a loyalty software application that could integrate directly with EPOS systems. This software would use past transaction data to provide customers with points, discounts, coupons, and rewards in real-time.

In April 2005, the journey of Lorgan Technologies Ltd, trading as Payback Loyalty Systems, began. In June 2016, we rebranded as Azpiral, and until its sale in February 2022, the original vision remained the company’s guiding North Star. Much like my first business venture, what started as a straightforward business plan—initially supported by friends and family as investors—evolved into a far more complex enterprise than I had originally anticipated.

The original loyalty application was designed to integrate with EPOS systems in real time, connecting to a local in-store server that synchronized with an online server in the UK every 5 to 10 minutes. By 2022, the application had evolved to be hosted on Microsoft Azure, supporting thousands of retailers across Europe and serving millions of customers daily. Our solution operated on behalf of hundreds of retail brands, who licensed the application and paid a monthly or annual fee based on their contract terms.

Developing and scaling this application required a dedicated team of talented individuals, whom I was fortunate to lead and work with. The largest segment of our team was focused on software development and quality assurance, as our product was the lifeblood of the company. From there, other essential functions emerged, including retailer and customer support, account management, finance, marketing, sales, HR, and business development. What began as a simple idea quickly grew into a thriving business, supported by a team of 35 people.

For a software business like Azpiral, which required continuous R&D investment, securing financing was challenging, as banks tend to be wary of intangible assets. From the outset, my co-founders and I were reluctant to pursue a major funding round, as it would have led to equity dilution—especially since our goal was to build the business for a future sale. However, little did we know it would take 17 years to achieve that objective.

Beyond our initial fundraising in 2005, we focused on generating sales and becoming self-sustaining as quickly as possible. With a small team and our loyalty application, we began establishing credibility in the market. Then, the 2008 financial crash hit, making 2009–2011 particularly difficult trading years. However, by carefully managing costs, we navigated through the downturn.

By 2012, some retail companies had begun reinvesting in their businesses, and we were fortunate to secure large projects that required further investment in our product and team expansion. We financed this growth with support from Enterprise Ireland and the BDO EIIS fund.

In the years that followed, we expanded into export markets, initially through existing clients who introduced us to their European colleagues. This served as a strong endorsement of our product and team, providing a launchpad for further international growth. However, expansion came at a cost. While we were trading successfully, continuous investment in our product and people was necessary to meet the increasing demands of our clients. During this period, we secured additional financing through R&D tax credits, private EIIS fundraises, and bank loans to support our growth.

In September 2020, we were approached by a company interested in acquiring Azpiral. Having been so deeply focused on running the business, we, as founders, had almost forgotten our initial objective of building a company to sell, making the approach an unexpected surprise.

Over the following months, we gave it serious thought and ultimately decided that pursuing a sale was the right path forward. In March 2021, we engaged a firm to manage the sale process. By early October 2021, we signed a letter of intent with PDI Technologies, marking the beginning of an extensive due diligence process that lasted until February 16, 2022, when the sale was finalized.

In the months that followed, I supported the handover process to the PDI Technologies team. However, having been self-employed since April 1998, I always knew I wouldn’t remain in the business long-term. In February 2023, I officially resigned from my role as Director.

When I finished there was an immense sense of pride knowing the company was in good hands along with having accomplished personal financial freedom.

After taking time to recharge and rediscover my passion for reading and learning, I embarked on the next phase of my career in 2024. Alongside running my business, I’ve consistently pursued personal property projects that sparked my interest—an area that continues to inspire me. With a wealth of experience navigating diverse opportunities and challenges, I’m confident in my ability to mentor CEOs and business founders seeking guidance and support. If you’re looking for someone to challenge and empower you on your journey, I’d love to connect.