Shuffle, a startup hospitality investment platform, is investing £2.5 million into Manchester’s hospitality industry to fuel the continued growth of some of the city’s most successful businesses, including Madre, Medlock Canteen, Trof, and Bold Street Coffee.
Shuffle provides upfront capital to its partner venues, with the funding unlocking opportunities for growth, including new site openings, updated interiors, and kitchen renovations. This immediate investment is offered without requiring businesses to give up company equity, as is usually the case with traditional models such as crowdfunding.
The investment will be repaid through Shuffle’s consumer-facing app which is set to launch later this year. The app rewards customers for spending at venues partnered with Shuffle, driving footfall and fostering customer loyalty through a unique concept of randomised rewards, where consumers are guaranteed a random cashback amount ranging from 2% to a full 100% of their bill.
Co-Founder of Shuffle, Ollie 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 three years.”