ZIPZERO, a UK-based consumer app that allows users to monetize their shopping data, has raised more than £1m in seed funding from a pool of angel investors, including Craig Dewar, founder of Global Processing Services. The app has over 100,000 users in the UK and intends to use the funding to expand its platform, secure new partnerships with retailers and brands, and give consumers more autonomy over their personal shopping data. ZIPZERO rewards users with cash every time they share a shopping receipt, which can be used to pay recurring monthly bills, such as utilities, phone bills, and council taxes.
ZIPZERO has secured more than £1m in seed funding from a diverse pool of angel investors, including Craig Dewar, founder of Global Processing Services. The funding will be used to grow the platform further, secure new partnerships with retailers and brands, and give consumers more value and control over their personal shopping data. ZIPZERO has already partnered with leading retailers, such as Asda, Boots, Ebay, and Sainsbury’s, to support their customers by allowing them to earn cash towards the payment of their household bills every time they shop.
The app’s recent growth can be attributed to the current cost-of-living crisis and double-digit inflation, with more than 30,000 new users signing up in January 2023 alone. The cash rewards for sharing shopping receipts are funded by advertisers, such as leading retailers, brands, and financial institutions, which gain access to a unique consumer insights and marketing platform based on real-time, product-level shopping data. The success of the funding round highlights how critical ZIPZERO’s proposition is as consumers struggle through the cost-of-living crisis.
ZIPZERO’s mission is to empower consumers by providing a fairer, transparent exchange of consumer data. The app’s cash rewards enable users to monetize their own shopping data, creating a fairer retail ecosystem. As a team, ZIPZERO recognizes that its users rely on the app to improve their financial well-being, and with funding secured, the company aims to accelerate its growth by entering new partnerships with retailers and brands.
ZIPZERO’s seed funding success, combined with its recent growth, indicates the app’s value to consumers and retailers. The app provides a mass-market solution to rising costs and skyrocketing energy bills, allowing consumers to earn cash rewards every time they make a purchase with their favorite brands and retailers. ZIPZERO plans to use the funding to further expand its platform and partnerships and continue its mission to empower consumers by providing a fairer, transparent exchange of consumer data.
