Nez, London’s leading food and drink discovery app, has today announced it has raised £2m in funding, bringing the app’s total funding to date to £3m since its inception in 2016.
Funding from investors, such as Martin Robinson, the Chairman of Burger King UK, who also spent 17 years as Chairman of Center Parcs, will see the app increasing profitability of the high street through marketing, developing its advanced technology and data capabilities, as well as updating its new B2B offering, nez perks, an employee benefits platform.
The app recently announced its incredible early engagement figures, showing that more than 385,000 food and drink offers have been redeemed in the app by its 150,000 users, and nez is expecting to hit 200k users by the end of September. Redemptions have grown tenfold over the last 12 months, including a 40 per cent month-on-month jump in April, following its launch in the City.
Nez differentiates itself through its unique, elevated, full-service local marketing platform that it offers partners. The app provides targeted emails and push notifications, street promo teams, social media support, as well as invaluable data insights, on top of the core product proposition of sending customers through their doors.
The firm will crucially invest in increasing the profitability of the high street through marketing campaigns, including a huge on-the-ground presence, as it scales across London. On top of this, the company will be investing in technological innovation, attracting top talent and developing its new employee rewards platform, nez perks.
The app was created by Joe Zender, founder and CEO of the company, who recognised the need for a digital platform that could connect traders with a local customer base through technology which could deliver local discounts straight to Londoners’ phones. nez is now working with over 330 partners, from cafes, to bars and restaurants, across central London, and is proving to be a valuable marketing partner, delivering a genuine increase in footfall and returning customers.
Joe Zender, founder and CEO of nez, said: “I came up with the idea of nez as I walked past a restaurant that had a ‘half price’ sign outside, yet it wasn’t getting much attention. I realised there must be a gap in the market for an app that features hyperlocal, real-time offer in London. To see this vision come to life in an easily functional app, with now over 330 partners is truly incredible and rewarding. I can’t wait to see how this funding will help local food and drink businesses and help revive the high street, while providing Londoners with exceptional offers and a vast choice of meals to choose from!”
Martin Robinson, Chairman of Burger King UK, said: “We believe nez’s offering is truly unique in the industry, and is a breath of fresh air in terms of their marketing opportunity for their partners. We are looking forward to embarking on this journey with the brand and continuing to watch its exceptional growth.”