Mobile couponing app GreenJinn gathers funding

London-based GreenJinn, a next-generation mobile couponing app, has raised 670,000 pounds in funding via Crowdcube, an investment crowdfunding platform. The investors included Guerrino De Luca, former Logitech CEO and senior vice president of marketing at Apple and former Jack Wills CEO Wendy Becker.

PRESS RELEASE

London 13th December 2017 – GreenJinn, the next-generation mobile couponing app, has just closed a seed round of funding on Crowdcube of £670,000. Investors range from university students and families to CEOs including Guerrino De Luca, former Logitech CEO and SVP Marketing at Apple and former Jack Wills CEO Wendy Becker, all of whom recognised the gap in the market for an app that provides shoppers with cashback on their regular supermarket purchases.

Launched in October 2016, GreenJinn has already attracted over 50,000 users who are saving a maximum average of £100+ each month. Savvy shoppers simply download the app for free, choose their preferences, select coupons, purchase products from the supermarkets, and then send a photograph of the receipt to obtain their cashback.

Currently available to shoppers at Waitrose and Sainsbury’s, the startup plans to add more outlets to its offering in the near future.

Shoppers can say goodbye to promotions on uninteresting junk or obscure products thanks to GreenJinn’s smart personalisation system. The technology learns what users like and buy and proposes relevant offers accordingly.

With the GreenJinn app, users can save over £100 a month without having to sift through mountains of offers that don’t interest them.

GreenJinn also serves as a one-to-one marketing tool for brands, who often struggle to reach out to modern consumers through traditional marketing channels. GreenJinn aims to provide brands with unique insights into shopping patterns and trends, and a platform for detailed targeting of coupons.

The round of funding received on CrowdCube will serve to bolster the marketing and product development teams to support the growth in user numbers alongside the products and outlets available via the app.

GreenJinn CEO Giuseppe Licari commented: “GreenJinn is the only cashback app on market actively promoting healthy living and developing personalisation. We aim to offer our users their best fit in terms of coupon selection, timing and convenience. Only what you like, when you need it. With the success of our seed round of funding we can continue to ensure this a reality and best of all, we have a brilliantly diverse community of investors alongside us.”

Lead investor Guerrino De Luca is Chairman of the Logitech Board of Directors and was recently appointed to the Executive Council of Balderton Capital which closed a $375M fund with a focus on AI. He said, “GreenJinn’s approach to the coupon sector is refreshing and I’m sure it will prove to be an exciting area of development to be part of. Using machine learning and AI the GreenJinn app learns what a user is buying and only proposes suitable discounts that match shopping preferences. This AI focused approach to retail is no doubt the future of shopping. I look forward to seeing this startup grow from strength to strength.”

Early investor Wendy Becker, whose experience in the retail sector spans decades and included roles such as CEO of Jack Wills and as Non-Executive Director of Whitbread, Ocado, and NHS England said, “GreenJinn’s proposal really impressed me. There is a clear space at the moment for a company to offer a stylish, tailored and smart way for shoppers to buy the groceries they like and want without the feeling that they’re constantly being spammed by coupon and discount services. There is also a shift towards the consumption of healthier products which GreenJinn is actively promoting among its user base, a push which will be greatly appreciated by consumers as they look for brands that support better lifestyle habits. GreenJinn is about saving consumers money while at the same time giving retailers and brands valuable data.”

AboutGreenJinn
Launched in 2016, GreenJinn is a cashback app that helps shoppers save money across supermarkets, through customised coupons on everyday and healthy groceries. Currently available to shoppers at Waitrose and Sainsbury’s, the startup has already attracted over 40,000 users who are saving on average a maximum of £100 per month on their grocery shopping.