Overfunding: Proprietary Software Platform Pepper Secures £500,000 Funding Target on Crowdcube

Pepper, a software platform that creates merchant branded apps to drive loyalty and increase customer spending, has successfully secured its initial £500,000 funding target from more than 150 investors on equity crowdfunding platform Crowdcube.

The company, which was launched in 2015, is currently live in more than 50 stores and is in negotiation for over 500 more. It is now backed by London Businesses and London Co-Investment Fund.

Pepper is a proprietary software platform that builds and supports merchant branded apps for coffee chains, restaurants, and retailers looking to offer customers a host of features like pre-ordering, digital loyalty, mobile payment, rewards and surveys. Pepper’s tools are designed to improve customer service, speed up queues, automate loyalty and direct marketing, while gathering valuable data and customer insights.”

Pepper also now provides apps for three U.S. chains and is in discussion with businesses in the Middle East. It is also planning to launch a web-enable self-serve product later this year, which will be dedicated to independent businesses and small chains.

“Pepper achieved £80,240 in revenues in 2016 with over 50 live locations. With 4 prospects accounting for another 500 locations in negotiation we have identified a market of hundreds of prospects, representing thousands of locations. Pepper projects its 2017 year-end revenue at £732k (based on 700 locations). Pepper expects to increase revenue per merchant as additional features are added.”

Funds from the equity crowdfunding campaign will be used for additional staff hires in sales, product development, account management, and to support cash flow needs. It is set to close next Friday (March 31st).

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