Glasgow cashback app Swipii to support hundreds of local retailers amid lockdown recovery

Glasgow-based cashback app Swipii has launched its first ever crowdfunder as it seeks to quadruple its business network and help support local retailers.

The firm is looking to raise £750,000 via the Crowdcube platform to accelerate expansion plans and extend the number of local businesses it works with.

Since launching its app in 2018, the firm has helped 100 businesses predominantly in Scotland increase customer engagement and spend, while also saving shoppers money. Swipii personalised offers have, even during lockdown, seen participating businesses increase customer spend by 16 per cent.

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The company is currently working with business improvement districts to roll out the service to hundreds more shops across the country as lockdown begins to ease.

Glasgow-based Swipii was founded by Louis Schena, above, and Chitresh Sharma.

Founded by Louis Schena and Chitresh Sharma, the app has already attracted more than £3 million from LocalGlobe, Rocket Internet, Kima Ventures and Par Equity as it seeks to give local businesses the marketing and data tools to compete with larger online outfits.

Swipii does not rely on separate loyalty cards but saves users money by providing cashback incentives when they shop locally with their normal bank card through cardlink technology.

Schena, co-founder and chief executive, said: “Local independent businesses form the backbone of our economy. The unfortunate truth is they are decades behind online businesses and big corporations when it comes to the technology they have and as a result are at a significant disadvantage.

“Covid has widened this disadvantage and our mission is to level the playing field as markets open up. This crowdfund will allow us to ramp up our expansion plans.”

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