Smart shopping app raises £280,000 investment
Memberoo, a smart shopping app company, has announced it’s to begin commercialising its ‘smart stamp’ product after raising £280,000 in equity investment.
The Newport-based company, which is the brainchild of tech entrepreneur Emma Smith, has raised money from Finance Wales and Thorium Technology Investors.
Emma set up the company after completing a master’s degree at the University of Bath. She’s created a solution that does away with traditional paper-based loyalty cards.
Instead, customers purchasing items in participating shops, cafes and restaurants can log their shopping trips through a smartphone app and win loyalty points.
Her app provides companies with a host of valuable customer information, allowing them to offer targeted, personalised offers and marketing materials.
According to research undertaken by the company during its testing stages, personalised marketing is capable of increasing customer visits by up to 20 per cent and sales by up to 4 per cent.
Commenting on the investment, Emma said: “It’s amazing to be in a position to commercialise our technology after a rigorous testing phase over the last two years.
“We’re really excited to be opening our sales and marketing hub in Newport and seeing Memberoo out there, bringing the magic of online referrals to the high street.”
Lily Smith, VP of product at the company, said: “We know that restaurateurs and coffee shop owners are busy people, and don’t want them to get bogged down in their data.
“Our platform uses our own research and algorithms to suggest offers unique to individual customer behaviour and preferences, suggesting relevant marketing strategies and helping small and medium-sized businesses grow.”
The company will use this investment to expand its team in Newport, with a focus on marketing and sales staff. And it’s also unveiled plans to open a South Wales-based distribution centre.
“As well as treating our customers as individuals, we’re proud to be able to treat our staff as individuals,” added Emma. “As a working mum myself it was really important that my business offered true flexibility to all staff.
“As a female entrepreneur in the technology space I’m also passionate about encouraging more women into the sector, through our flexible working policy I believe we’re in a position to do that.”
Sarah Smith, Finance Wales portfolio investment executive, said: “This is really innovative and useful technology which will really benefit both consumers and small businesses.
“The behavioural data it can provide on consumer buying habits will help business owners drive bespoke promotional campaigns to increase sales.
“Emma is a credible and visionary CEO with an excellent business plan. We’re pleased to be able to help them, alongside supportive technology co-investors Thorium Technology Investors, as the Memberoo team begin to commercialise their product.”