IW Capital has invested approximately £5.2m in Ubamarket, bringing their total funding to date. Ubamarket has developed an SPG app that utilizes their patented technology to offer shoppers a seamless shopping experience through their mobile devices. This user-friendly app is not only affordable and low-touch but also enables retailers to increase basket size, foster customer loyalty, minimize overheads, and gain valuable insights from purchasing data.
In the wake of the pandemic, consumer behavior has undergone significant changes. While delivery and click & collect channels have experienced substantial growth in recent years, convenience stores, grocery stores, and roadside shops still account for more than 90% of food shopping. Ubamarket’s solution addresses this trend by helping retailers boost sales, reduce costs, and guide customers towards exclusive offers and deals within the app, featuring little to no reliance on in-store staff.
Thanks to IW Capital’s initial investment, Ubamarket has successfully developed a highly sophisticated app, which has been rolled out in numerous retail stores. Their current partnerships include well-established brands such as Spar, Budgens, and Central Co-Op.
Through continuous support from IW Capital, Ubamarket has expanded the capabilities of their master app, allowing customers to access exclusive offers across multiple participating retail groups through a single, comprehensive mobile solution. Moreover, the company recently announced potential partnerships with prominent grocery brands who have shown strong endorsement for Ubamarket’s master app concept and expressed interest in becoming founding partners.
Alex Petri, investment director at IW Capital, commended Ubamarket’s disruptive app for transforming the conventional shopping experience. He emphasized the data-driven and cost-effective nature of the app, which benefits both businesses and customers by saving time and resources. Petri also highlighted the significance of Ubamarket’s partnerships with renowned retail brands, underscoring their continuous growth. IW Capital is thrilled to support Ubamarket during this critical phase as they scale up their technology offering and expand globally.
Will Broome, founder and CEO of Ubamarket, expressed his enthusiasm for the ongoing development of the “UbaCart” master app. He emphasized the company’s commitment to revolutionizing the retail sector, thereby enhancing the shopping experience for both customers and retailers. Broome expressed his delight in continuing to work with IW Capital.
Overall, Ubamarket’s innovative app and strategic collaborations position them as key players in reshaping the retail landscape. With IW Capital’s backing and their dedication to technological advancement, Ubamarket is poised for further growth and global expansion.
