A start-up investment platform is set to transform Manchester’s hospitality sector. An initial £2.5m investment will help the city’s businesses grow.
This funding will support new site openings, interior updates, and kitchen renovations, driving commercial growth across Manchester’s bustling hospitality scene.
Investment into Manchester’s Hospitality Sector
A start-up hospitality investment platform is making waves in Manchester. An initial £2.5m will be injected to boost the city’s hospitality industry.
The funds will support the growth of some of Manchester’s most successful businesses, enabling new site openings, interior updates, and kitchen renovations.
Unique Capital Model
Unlike traditional models like crowdfunding, the new platform provides upfront capital without taking company equity. This model alleviates a significant burden for hospitality businesses.
The investment is repaid through a consumer-facing smartphone app, scheduled for launch later this year. The app rewards consumers for spending at partner venues.
Consumers receive randomised cashback, which ranges from 2% to 100% of their bill, through the app. This feature aims to drive footfall and foster customer loyalty.
Founders’ Backgrounds
The platform was co-founded by CEO Ollie Purdue and COO Enzo Ottens. Both have prior start-up experience in the financial sector.
Ollie Purdue previously founded Loot, a digital banking service, while Enzo Ottens created Earnr, a finance and accounting tool for creators and the self-employed in the UK.
Their expertise in financial technology has been instrumental in structuring this unique investment model for the hospitality industry.
Expansion Plans
Although nationwide growth is planned, Manchester is the chosen launch location. The city’s dynamic hospitality scene makes it an ideal starting point.
Partnerships have already been secured with some of Manchester’s top businesses, including Madre, Medlock Canteen, Trof, and Bold Street Coffee.
These partnerships are expected to showcase the platform’s benefits and attract more businesses.
The Vision Behind Shuffle
CEO Ollie Purdue highlighted the entrepreneurial nature of hospitality owners who often struggle with growth capital despite proven business models.
During its development, many successful operators were consulted to understand their challenges and needs.
Purdue aims to build the largest hospitality investment platform in the UK within three years. He also aims to create a better rewards platform that truly benefits hospitality businesses.
Consumer Rewards
The app will launch later this year, offering randomised rewards to consumers. This approach differentiates it from existing rewards platforms.
Most current rewards platforms are tied to uninspiring brands and often devalue the businesses they aim to support.
Shuffle’s reward system not only drives footfall but also enhances customer engagement significantly.
Strategic Partnerships
Shuffle has already partnered with prominent names in Manchester’s hospitality sector.
These partnerships underline the confidence in Shuffle’s model to drive growth and customer loyalty.
The collaboration with local businesses aims to fuel continued success and expansion within the city.
The hospitality investment platform promises to significantly impact Manchester’s culinary and nightlife scene. By offering up-front funds and a consumer rewards app, it aims to foster both business growth and customer engagement.
The innovative investment model and strategic partnerships may position the platform as a leading player in UK hospitality. This launch could pave the way for nationwide expansion, benefiting businesses and consumers alike.