A company responsible for a restaurant booking app is planning to expand across the UK on the back of a crowdfunding drive which has raised more than £600,000.
Wriggle, which currently operates in Bristol, Cardiff and Brighton, has its sights set on a move into Birmingham in September, with other towns and cities also on the horizon.
The company was founded in 2014 as a solution to food waste for local independent businesses in Bristol, and now generates more than 20,000 transactions per month for restaurants, cafes, pubs and street food stalls.
The company has so far raised £669,000 with crowdfunding platform Seedrs.
Founder Rob Hall said: “We’re delighted with the public’s reaction to the crowdfunder – it was particularly great to see so many Wriggle users investing to claim a bit of Wriggle for themselves, and a real reward for all the hard work the whole team have poured into Wriggle.
“Having the backing of our own users and clients as well as other investors makes us feel even more confident as we embark on the next stage of our adventure, launching in new cities in 2019 and 2020.
“We’re thrilled that we smashed our initial target within the first two days, but we’re not resting on our laurels.
“We’re absolutely buzzing to continue Wriggle’s work in supporting the best local food and drink businesses across the country, and reclaim the nation’s high streets from the bland chains that sadly dominate these days.
“The key differentiator is that, on Wriggle, users purchase their products through our platform, rather than getting vouchers.
“That makes us a direct revenue-generating platform for our partner restaurants, but also means that we start gathering invaluable data on customer purchasing preferences (what they order, how much they’re willing to pay, what cuisines they’re looking for) – which we can give back to restaurants to help them optimise performance.
“The other key point is that we’ve built a sustainable profitable business model. In this space, we’ve seen a variety of competitors enter and then fall away, because they didn’t get a handle on the unit economics: you have to be adept at building large local audience cost efficiently.
“Wriggle has stayed focused on a few cities to do this – building thriving local city units – and we’re now in an excellent position to scale up.”