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Zipzero Secures £1M To Scan Receipts For Consumer Cash Rewards

Feb 27, 2023almost 3 years ago

Amount Raised

£1 Million

Round Type

seed

London

Description

Fintech startup ZIPZERO has secured over £1m in seed funding for its consumer rewards platform, which gives shoppers cash to use for household bills in exchange for sharing their shopping receipts with retailers.

Company Information

Company

ZIPZERO

Location

London, Ontario, Canada

About

Last year, Big Tech generated £26bn+ of revenues by using your data to push ads to you – we believe this is unjust & simply wrong. We created ZIPZERO so that consumers can become the beneficiary of their data’s monetisation – in a way that is fully in their control whilst meaningfully impacting their household’s finances. Via our app, consumers get rewarded for sharing any shopping receipt – physical & digital – with cash rewards which can be used to pay off any recurring utility bill. Our cash rewards are funded by advertisers – leading retailers, brands & financial institutions – who gain access to a unique consumer insights & marketing platform that’s based on real-time, product-level shopping data. Our USP lies in our capture of product-level spend from consenting consumers across all their retail transactions – hugely valuable data that Open Banking doesn’t have access to. We’re focused on diverting the £26bn+ spent yearly on digital advertising towards the payment of consumers’ utility bills – corresponding to a whopping £80/month per household. Launched in 03/22, ZIPZERO already boasts 100k+ active users who have shared >2m receipts worth >£50m in retail value. Our path to scale is in partnership with leading utilities, who are encouraged to push ZIPZERO to their customers as we help them pay their bills.

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