Startup investment platform to invest £2.5m in Manchester hospitality
The new platform has been co-founded by Ollie Purdue, CEO, and Enzo Ottens, COO
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Start-up hospitality investment platform Shuffle has revealed that it has committed to investing £2.5m into Manchester’s hospitality industry.
The founders have chosen Manchester as the first location in the UK to launch and have already partnered with Madre, Medlock Canteen, Trof and Bold Street Coffee.
Shuffle will provide upfront capital to its partner venues without requiring hospitality businesses to give up company equity.
The investment is then repaid through Shuffle’s consumer-facing smartphone app which is set to launch later this year, offering users randomised rewards for visiting the partner venues.
The new platform has been co-founded by Ollie Purdue, CEO, and Enzo Ottens, COO.
Purdue said: “Hospitality owners are incredibly entrepreneurial but often struggle to access the capital needed for growth despite having a proven business model. During our conception stage, we consulted with many successful operators who were facing this problem and realised we could support them through our goal of building the biggest hospitality investment platform in the UK over the next 3 years.
“We also wanted to build a better rewards platform, as most existing ones are tied to uninspiring brands, devalue the businesses they aim to support, or are quickly forgotten by users. We saw a huge opportunity to invest in and partner with the best hospitality businesses while rewarding customers for spending there, and that’s how Shuffle was born.”