Personalization has been getting into every aspect of our lives. Our digital experiences have been personalized. It is especially needed in the retail sector. Solutions that redesign our shopping experiences are redefining the retail experience as they provide special offerings according to a person’s profile. One size does not fit all. Every shopper has different needs and different motivations. Our startup spotlight guest this week is Qumpara from our Visa Innovation Program. Qumpara is a platform that rewards shoppers with cash back, discount offers, or instant rewards. With our receipt recognition system, we can understand shopper behavior, and help brands to develop deeper relationships with shoppers to drive desired purchase behavior. Co-founder Nilhan Gür told us about their journey.
When and why did you found your startup?
In 2016, we launched Qumpara to disrupt time and money-consuming trade promotion methods. CPG brands needed a mechanism that could give them freedom from retailer cashier systems. While the e-commerce and the online marketing world were evolving, brands were still struggling to reach and understand consumers shopping from physical stores.
Tell us about your team.
We found Qumpara as 2 women entrepreneurs, both engineers with MBA degrees. One is a Computer Engineer with more than 15 years of experience in the Finance and Insurance sector, including Project Management. Other is an Industrial Engineer with more than 15 years of managerial experience in Mobile Value Added Services, Digital Loyalty, and Mobile Marketing services. We also have a core team of developers with full experience in mobile and web technologies.
What are your key and unique features?
We Bring online abilities to offline shopping. CPG brands; Deliver the right incentive to the right consumer instantly. Target their shoppers by giving them cash back and discount methods without the struggle of retailer integrations. Access omnichannel shopper data and understand shopper behavior across every retail channel. Retailers; Seamless checkout, Incremental trips, Close loop rewards.
What is your startup's stage?
We’re scaling our business. We have more than $25,000 in revenue per month.
Tell us about the numbers that matter to you.
2 Mio + App users 5000 + campaign created 4 mio + receipt receognized from 3000 + differetn retailers 250 + FMCG brand as customer 50 + retailer as reward partner
What are your plans for the next year and the next 5 years?
We are starting our expansion in Europe and we are adding payment/finance functions to our platform this year. We are planning to operate in 8 countries in 5 years.
More about Qumpara