“What if you could get your money back on anything,” Lewis Holland once asked his colleagues.
What followed was a discussion that led to the launch of Discountif, an innovative way to shop online and get money back on your purchases. Buy a product and if an event happens, you get your money back. For instance, buy an Apple iPad Air 2 and get full cashback if Barcelona wins the Champions League. Or buy a Sony Playstation 4 and get full cashback if it snows in London on Christmas day.
Following early success, Discountif is planning to raise investment from Seedrs through customers, who can get exclusive cashback deals for any Amazon.co.uk product they want. Customers will be able to purchase any product they want and link cashback to any event of their choice.
Most cashback deals in the UK take months to get paid out and generally offer two to 10 per cent cashback. However with Discountif, customers will receive from 10 to 100 per cent cashback.
This promotional concept has grown into a £100m market and has been used successfully by known global brands such as Currys and Toshiba. Discountif is the first company to bring technology and marketing expertise into a space that has been notorious for cumbersome processes for customers to benefit from cashback deals. Discountif will leverage its expertise to assist other brands launch similar campaigns by the Euro 2016 competition.
To fund its plans, Discountif has chosen Seedrs, one of the top online crowdfunding for equity platforms.
“Crowdfunding is changing the way that people invest and we are changing the way that people shop,” founder and CEO Holland said. “We are a company of firsts, so this felt like an appropriate way to raise new finance.”
Currently located at the Takeoff Business Incubator at the University of Malta, Discountif is also funded and backed by the University. Discountif recently took part in Richard Branson’s Pitch-to-Rich competition. The start-up finished seventh out of 1,000 start-up companies in the UK and made it all the way to the semi-finals.
Jeff Lynn, Seedrs CEO, was recently in Malta and expressed his excitement at having the first Maltese team appear on his site.
“We’re excited to have Discountif campaign on Seedrs, not only because it will be the first Maltese business on Seedrs, but also because it’s a business with a fresh approach to e-commerce,” he said.
Discountif have launched its campaign on Seedrs.com earlier this week and has already hit over 55 per cent of the investment target from over 90 investors. Follow the campaign at www.seedrs.com/Discountif.
For more information visit www.Discountif.com and www.facebook.com/Discountif.