Ubamarket's Scan, Pay, Go App is Set for a "Mass Rollout" following a £2.9m Fundraising Round
The company is set to revolutionise the 'new normal' of the hospitality and retail sectors following lockdown
Ubamarket, the self-proclaimed 'pioneer' of scan, pay, go technology, offering innovative solutions to providing the fastest ‘in and out’ supermarket experiences, with help of features such as aisle sat-nav, automated lists, facial recognition and till-less check out options. Ubamarker has already partnered with SPAR and Central England Co-Op for their retail app, and is soon to launch in Nisa stores as well as with a “large international retailer". IW Capital announced earlier this month that they completed an oversubscribed £800,000 investment round for Ubamarket, which led into a £2.9m fundraising round, setting the company up to reach their goal of revolutionising the retail sector with their scan pay go app, as well as the hospitality sector with their app 'Nomm' as a ‘Order, Pay, Stay or Take-Away’. The additional investment from private equity firm IW Capital is to be used to accelerate the company’s expansion plan into new industries, namely hospitality. The investment from IW Capital was closed with more investment than expected following an oversubscription due to high investor demand to back an innovative product in the time period.
The app will enable restaurants and bars to provide better staff efficiency and customer service, accept quick and secure cashless payment, serve more customers and increase overall revenue. The Nomm app also enables bars, pubs and restaurants to offer one-tap, in-app payments, remote ordering, dietary/allergen information, and personalised offers, helping them “maintain social distancing while streamlining the customer experience”.
“The app is highly sophisticated and offers table service, collection points, takeaway and even home delivery, amongst many other features,” “In fact, the app is now so advanced that some of the UK’s largest pub and hospitality groups are approaching us with a view to replacing less versatile and less functional apps which they bought ‘off the shelf’ as a knee-jerk reaction when restrictions were first put in place.” - Will Broome, CEO - Ubamarket
The company has also hired a small number of new staff members in order to focus on integrating Ubamarket’s scan and go app with more retailer point-of-sale systems. Although several supermarkets have scan, pay and go apps, “only a handful are operating their own systems with any consistency” says Broome. “There’s a huge market materialising and, having put in the groundwork over many years, we’re well placed to offer a tried and tested, sophisticated and affordable solution which can reflect the retailer’s brand in every way – including loyalty, payment and even personalised offers,” Broome explains, “In a market which seems to have matured overnight, there is no longer any place for a basic ‘minimal viable product’.” Nomm is expected to see significant growth in user base when restaurants reopen.
With the numerous lockdowns closing the hospitality industry, many restaurateurs are hoping to enable a way to meet client demand in a safe manner post-Covid and lockdown, seeing that the implementation of new technologies as essential. “While some investors have treaded with caution as a result of Covid-19, we believe that now is exactly the right time to be investing into innovative businesses,” Luke Davis, CEO of IW Capital stated. “This is especially true of those which offer tangible products which industries such as hospitality are desperately in need of once they open up again this summer.”
“We believe, along with our investor base, that now is the most opportune moment to provide a platform for SMEs to thrive, and we believe that Ubamarket LTD will continue to go from strength to strength, and add to their already impressive roster of partnerships.”- Luke Davis, CEO - IW Capital,
Taking much of the software from Ubamarket, and evolving for the hospitality sector, NOMM is the first app of its kind to offer contactless payment, interactive menus, facial recognition, takeaways and deliveries. The benefits for the venues include an API cloud-based software that is linked to the POS system, meaning that any changes made to the menus in the restaurant are updated to the app in real time, and the name is able to be branded by the restaurant too. “Through NOMM, we are providing an app that will bring reassurances and comfort to guests and business owners alike. Once the industry is reopened, we will have produced the fastest, cheapest and most tech-enabled solution to many of the problems Covid has highlighted.” says Broome.
Keep up-to-date with the latest tech industry insights, trends as well as information technologies, app development, and small
business content with the Proteams Blog