Tossed Opens First Cashless Stores in London Following Seedrs Funding Round

Sarah Jo Lindsay Pitching for TossedTossed, a new concept on healthy “food to go” dining, opens its first cashless store today in the city of London.  Tossed will open two new cash-free stores this week: Coleman Street and Upper Thames Street. Both operate with self-service kiosks instead of manned tills, and will take payment by credit or debit card, contactless and Apple Pay instead of cash.

Tossed raised £1.27 million on Seedrs in 2015 from over 600 investors including marquee Seedrs advisor Andy Murray. The ten year old company sought £750,000 in equity capital for a business that was expanding at 30% a year.

The completely cashless stores are described as a broader strategy to embrace the opportunities that technology presents and, ultimately, to remove paper from its shops. The ultimate goal is to streamline its front-of-house operations, deliver a better guest experience and improve its back-of-house support functions.

Tossed founder Vincent McKevitt said the cash free transactions would improve capacity challenges during peak operating times.

“This unique point-of-sale solution allows our team to focus their energy on our speed of production. Guest feedback from the trials has been very positive: people like to be able browse in their own time and customise what they eat, completing a great experience with tasty, bespoke, healthy food, served quickly.”

Tossed BreakfastInvestors via the Seedrs offer given various perks married to the equity investment.

Neil Sebba, Finance Director at Tossed said the new cashless operation was a ground-breaking approach.

“We are excited to see what our Seedrs investors think of the concept they have helped us to deliver.”

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