TruRating launches crowdfunding campaign on Seedrs

Source: TruRating

TruRating, a technology company specialising in point-of-payment customer feedback solutions, today launched an equity crowdfunding campaign on Seedrs, seeking to raise £1.8 million.

On a mission to change the way the world gains insight, TruRating is a unique solution to the problem of customer reviews and feedback being unreliable and easily gamed. While the vast majority of customers don’t tend to leave reviews or answer surveys, by asking just one question at the point of payment, TruRating is able to collect responses from a huge 88 percent of validated, paying customers.

TruRating has already secured funds of £7.5 million from institutional funds, family offices and private individuals in this round. These funds have come from the UK, USA and Asia as the business has sought an international footprint of shareholders to support future international expansion. Patrick Yee, Executive Director/Chief Operating Officer of OSK Ventures International Berhad, recent investors based in Kuala Lumpur, commented “We are very excited about the potential of TruRating as a means to help businesses understand their customers better and improve performance, whilst also empowering the consumers to provide feedback in a convenient way. We look forward to growing the business with them in Asia as they look to additional markets beyond the UK, North America and Australia.”

As the funding round progressed, TruRating received many requests from friends and contacts who aren’t able to invest via traditional routes, and so decided to add to the funding round with an ‘equal equity opportunities’ flourish!

“I love the philosophy of crowdfunding - opening up direct investment opportunities to everyone, removing the barriers to investing by making it simple, easy and affordable,” said Georgina Nelson, CEO and Founder of TruRating. “I've always thought there are parallels between the crowd funding platforms and what we are doing at TruRating. Disrupting and democratising an industry and making it truly accessible. What Seedrs and others are doing for investment, we are doing for customer experience. It feels like an alignment of vision and so we are thrilled to open up some of our funding round to the public, for everyone.”

The Seedrs campaign represents a great opportunity to invest in a technology provider that already has a solid track record and recently saw JD Sports Fashion roll out the TruRating customer feedback platform across 360 of their UK stores. Other customers include Maxol, Ping Pong and Kathmandu, as well as a host of household names who are in pilot phases with the technology.

Nelson continued: “We’ve already come a long way in a short time period – having collected over 39 million customer ratings to date - but with our existing investors and the power of the crowd community we’re hugely excited about the trajectory for the business. This is more than just a fantastic investment opportunity, it’s a chance to be at the forefront of an industry where we make a significant difference to the shopper experience.”

The investment raised through the Seedrs crowdfunding campaign will go towards extending their technological partnerships with even more global payments players and developing additional digital solutions to sit within their product suite alongside the existing in-store and online solutions. 

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