Mobile couponing app GreenJinn has bagged a £670,000 seed round on online crowdfunding platform Crowdcube.
Contributions to the round came from a range of individual investors, including former Logitech CEO and Apple SVP marketing Guerrino De Luca and former Jack Wills CEO Wendy Becker.
Launched in 2016, the company has attracted more than 50,000 users, helping to save them an average of £100+ each month. The app is free to download, with the user then selecting coupons and then photographing a receipt to receive cash back.
The solution is available to Waitrose and Sainsbury shoppers, with plans to add more stores in the near future.
Capital from the investment will be used to boost the marketing and development teams of GrennJinn, as well as supporting the growth of its user base and products on offer on the app.
Guerrino De Luca said, “Using machine learning and AI the GreenJinn app learns what a user is buying and only proposes suitable discounts that match shopping preferences. This AI focused approach to retail is no doubt the future of shopping. I look forward to seeing this startup grow from strength to strength.”
De Luca was recently appointed to Balderton Capital’s executive council. Last month, the firm closed a $375m vehicle to invest in technology start-ups across Europe.
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