A social media platform for businesses has said it can create 100 jobs over the next 18 months, mostly at its Dublin headquarters.

Phlok has raised investment of over €450,000, and hopes to recruit software developers and sales, training and account management staff.

Phlok is an internet and smartphone-based platform where consumers can collect a virtual currency, or Phlok Points, to spend in businesses that have signed up to the Phlok network.

It intends to boost business by incentivising rewards and helping businesses stay in contact with their local customers.