With less than 24 hours until its equity crowdfunding campaign is set to close on Crowdcube, cashback smartphone app GreenJinn has successfully secured its initial £600,000 from more than 200 investors.
As previously reported, the GreenJinn app made its grand debut in October 2016 and provides personalized cashback coupons on everyday groceries. During its first year, the app attracted over 40,000 UK shoppers and is aiming to be the go-to app for saving money on groceries. Currently, two of the UK’s biggest supermarkets, Sainsbury’s and Waitrose, are featured on the app and the team plans to add one other major UK supermarket chain.
GreenJinn’s creators noted that the app also serves as a one-to-one marketing tool for brands, who often struggle to reach out to modern consumers through traditional marketing channels. We aim to provide them with unique insights into shopping patterns and trends, and a platform for detailed targeting of coupons. At the Crowdcube campaign’s launch, GreenJinn CEO Giuseppe Licari stated:
“We consider our early users as GreenJinn’s ‘founders’ and we are happy to involve them at this important stage, together with new enthusiasts. GreenJinn is the only cashback app on market actively promoting healthy living and developing personalisation. We aim to offer our users their best fit in terms of coupon selection, timing and convenience.”
Funds from the initiative will be used to add new supermarkets (both offline and online), and more brands and improve the personalization system on the app in order to skyrocket the mobile coupon revolution. The campaign is set to close later today.
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