Pepper, a software platform that creates merchant branded apps to drive loyalty and increase customer spending, is set to close its equity crowdfunding campaign on Crowdcube with nearly £750,000 in funding. The website launched the initiative earlier this month and quickly secured its initial £500,000 funding target.
As previously reported, Pepper was launched in 2015 and is currently live in over 50 stores and is reportedly looking to be added into more than 500. The platform also 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. It was revealed:
“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.”
During a recent update, the Pepper team announced its breakfast kiosk, Cwtch, which is located in Wandsworth Town, has reportedly achieved more than 4,500 in sales through the app this month.
“Cwtch’s Pepper powered App has driven new business by reducing queues and adding new customers now able to pick up a coffee on-the-go as they run to catch a train. Pepper’s technology is not only for large enterprises but can help drive volumes with features such as preorder opening up opportunities to attract new customers for independent merchants.”
Pepper is backed by London Businesses and London Co-Investment Fund. 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 tomorrow (March 31st).
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