IW Capital investments in action: Ubamarket wins IGD Award for Digital Commerce
On Tuesday 2nd October, the retail-tech app, Ubamarket won the prestigious IGD Award for Digital Commerce.
The award symbolises pioneering digital innovation that is designed to make shopping easier and more engaging for consumers. Ubamarket’s win acknowledges the app’s market leading proposition, providing a digital solution to fix prominent issues within the retail industry. Halving the time spent in-store, the app provides item location, in-app payment, allergen alerts, personalised offers, and e-receipt tracking.
Marking a momentous milestone for the retail tech disruptor, last night’s accolade serves as cornerstone progression for the Ubamarket team and Founder Will Broome, who started the business four years ago from a Warner’s Budgens in Moreton-in-Marsh. Succeeding last night’s award win, the company will continue to drive its landmark innovation throughout the supermarket retail industry, with features such as allergen alerts, plastics consumption, and full in-app payment, all set to launch towards the end of 2018 and early 2019. The new year will also bring further national rollouts across the nation’s independent retail providers, fortifying Ubamarket’s rapid expansion plans.
Will Broome, CEO, and Founder of Ubamarket said of the win, “This is a very proud moment for the Ubamarket team; to receive recognition from an industry benchmark such as IGD is a brilliant acknowledgment for the hard work the team and I have invested thus far. We’re looking forward to pursuing truly revolutionary and unique developments into the new year, staying true to our mission of transforming the way we shop, store by store”.
IW Capital first raised funds for Ubamarket in late 2015, and since then, has raised £2m for the innovative supermarket shopping app.
Luke Davis, CEO, and Founder of IW Capital commented, “Congratulations to Will and the Ubamarket team. They thoroughly deserve the win and we are thrilled to be part of such an exciting journey.”
John Maltman, Chief Executive Officer at E Fundamentals, said: “Ubamarket.com is a great example of how technology can be used to make shopping easier. Shoppers’ expectations are constantly increasing, and the team has created an app that makes it easier for shoppers to find and pay for products in-store.
We particularly liked that Ubamarket gives independent retailers a cost-effective route to providing scan and go services – this helps them remain competitive and potentially take the lead in this emerging battleground. In addition, we were impressed by the team’s ability to collaborate effectively with retailers to develop their thinking and services.”
Ubamarket® (Global Patent Pending) is the new must-have white-label shopping app that can be branded to suit any store group, turning your local supermarket into an Ubamarket®! In its first phase of development, you can simply enter your shopping list and it will be rearranged into the order the items are displayed in the store. Scan items as you shop, receive real-time personalised offers, plus automatic loyalty and check out without having to re-scan your items or queue. Ubamarket® is currently available on iOS and Android.
About the IGD Awards
The majority of the IGD Awards winners were selected by a panel of industry experts, including representatives from IGD and companies from across the food and grocery supply chain.