Supermeal’s EIS round has attracted £150k investment from a Middle Eastern investor, to bring the total funds raised to £550k.
Management has indicated it can take up to £1m, with funds to be deployed to boost the company’s cost-effective guerrilla marketing efforts.
Over the past few months, Supermeal has attracted a further 5,000 users to its disruptive food-discovery marketplace platform, through a clever QR Code referral voucher campaign.
The company now has more than 750 restaurants signed up to its platform and 23,000 registered users, with another big marketing push set for early in the new year, that will deliver 200,000 of these vouchers to potential consumers.
Operating in the highly lucrative online food delivery space, Supermeal is the only food discovery marketplace platform that offers consumers cash-back rewards for every order they place.
The model for all the major competitors in this sector, Deliveroo, Just Eat, Uber Eats etc, is to charge high commission fees (up to 30%) to restaurants and offer no incentive for consumers (diners) to use their services.
Supermeal has turned this model on its head, with a platform that drastically reduces restaurant fees to circa 7%, whilst giving diners a mandatory 5% in cashback, to encourage repeat business and more sign-ups.
As an added bonus, restaurants are also provided with a subscription-based advertising and marketing platform to promote their brand; and not that of the third-party delivery platforms.
It’s a win for restaurants, as they are only giving away a fraction of commission; and a win for consumers, who get cash-back to spend on any of their favourite restaurants within the Supermeal eco-system.
It’s a clever strategy and one that’s working, with Supermeal not only revenue-generating, but gaining traction at a fast pace.
This is a very acquisitive space, which by 2023 is predicted to grow to USD $145.3Bn globally. Supermeal’s strategy is to continue to grow quickly and expand aggressively, to become an attractive acquisition target for one of the big players in 3-5 years.
With a fully developed, tested, operational and revenue-generating platform, and the right team in place, Supermeal believes is well positioned with its unique offering, to scale rapidly towards an exciting exit opportunity for our investors.
To learn more about Supermeal please click here for the full Information Memorandum.
