Shuffle, which says it’s committing £2.5m to Manchester’s hospitality sector, is releasing its consumer app today.
The start-up, which is backed by venture capitalists, provides upfront investment to venues, without taking equity.
This, it says, unlocks opportunities for commercial growth, including new site openings and renovations. The investment is then repaid through the consumer-facing smartphone app, which is to be released today.
The app uses open bank data to provide customers with randomised cash-back amounts, ranging from 5% to 100% off each transaction.
During the test phase over the last 6 months, 4000 users signed up. They spent £60,370, with £22,130 paid out in rewards, with an average 36.66% cash back.
Shuffle has partnered with 16 operators in the city, including Diecast, Medlock Canteen, Trof and Madre and added that it was contributing to the openings of 8 new venues in central Manchester this year, including The Trading Route, from the team behind Manchester Union Brewery:
“We’re incredibly excited to open The Trading Route later this month and bring another great spot for drinking and dining to the increasingly popular Manchester Goods Yard,” said Jamie Scahill, co-Founder of Manchester Union Brewery.
“It’s no secret that opening new concepts in our industry comes with challenges, and Shuffle’s innovative approach of providing upfront investment without taking equity has been truly refreshing. They’ve already partnered with some of the key players and our friends in Manchester’s hospitality scene, so the consumer-facing app’s ability to drive footfall to our venue is, of course, another massive win for us.”
Shuffle is now eyeing Liverpool, with plans to launch at the start of next year.
