We hope that the summer holidays have offered you and your families an opportunity to regroup and refresh after all the turmoil of the spring. While it’s clear we are not over the hurdle entirely, we are certain that a brighter future is within reach. We apologise for the delay in providing you with the latest ZIPZERO update. We wanted to be sure that we could present as much information as possible after the uncertainty of the summer months. Please see our previous update on our Community Forum
under this link
As we shared in our previous update, we weren’t able to secure a larger investment in July after our investor was forced to withdraw from the deal due to his own Covid-related restrictions. Our only resort has been to go back to square one and restart our search for an investor who would lend our business both the funds and moral support we need to move forward. We spent all of August solidifying our strategy going forward and we have been focussed on this goal ever since.
This month, we began talks with a series of large private and institutional investors, all of whom appreciate the straightforward simplicity of our app and the streamlined way we reward shoppers for scanning their receipts by helping to pay their bills. Furthermore, many of them share our vision of swiftly growing the app and providing users with even more cash towards their bills. We estimate that these current negotiations will take between one and three months
before we settle on a final investment partner. In the meantime, we plan to share the next update on our progress in early October, with subsequent updates every 2-3 weeks, depending on the information we have to report.
We are very much aware that you are tired of waiting for your funds to become available for bill payment. As soon as we have a new investor secured and the means to carry out your pending orders, we will also announce how we plan to continue building the business so that we can guarantee its future and offer users even more cash to cover the bills.The truth is that our incredible community of users is our greatest asset.
We can’t express how much it has meant to us that so many of you have stuck by us. A huge number of businesses have folded since the pandemic hit and despite the challenges, we have been all the more determined to make it work. Thanks so much to everyone who has continued to snap their receipts. This has given us the support and continuity we need to show potential investors that we are providing a service that British consumers want. So, thank you again.
We can also confirm that at this moment in time, we are not monetising any of the receipt data that is processed by the app
. We will inform our users about any changes to our strategy or monetisation policy as it happens.
Thank you again to each and every one of our users for this immense show of support for our app and our team. Please wish us luck in this next chapter of ZIPZERO’s evolution!
Wishing you the best,
Aymeric & Marcin