Shuffle, a start-up hospitality investment platform, is committed to investing an initial £2.5 million into Manchester’s hospitality industry to fuel the continued growth of some of the city’s most successful businesses.
Unlike traditional methods of investment for hospitality businesses, Shuffle provides upfront capital to its partner venues. This funding unlocks opportunities for commercial growth, including new site openings, updated interiors, and kitchen renovations. Shuffle offers this immediate investment without requiring hospitality businesses to give up company equity, as is common with traditional models like crowdfunding.
The investment is then repaid through Shuffle’s consumer-facing smartphone app which is set to launch later this year. The app rewards consumers for spending at Shuffle-partnered venues, driving footfall and fostering customer loyalty through a unique concept of randomised rewards, where customers are guaranteed a random cashback amount ranging from 2% to a full 100% of their bill.
The new platform has been co-founded by Ollie Purdue, CEO, and Enzo Ottens, COO, two entrepreneurs with extensive backgrounds in the financial technology sector, and a passion for hospitality and creating memorable experiences for consumers. Prior to launching Shuffle, Purdue founded digital banking service Loot, while Ottens founded Earnr, a finance and accounting tool for creators and the self-employed in the UK.
The pair have already secured millions in equity and debt funding for Shuffle from leading Venture Capital firms. The company has also established a line of credit to further support its investments into Manchester’s hospitality industry, underscoring its commitment to fostering growth within the sector.
While the founders have ambitious nationwide growth plans for Shuffle, they have chosen Manchester as the first destination in the UK to launch its model thanks to its vibrant growing hospitality scene. The new platform has already secured partnerships with some of the city’s most successful and fastest-growing businesses, including Madre, Medlock Canteen, Trof & Bold Street Coffee.
Ollie Purdue, CEO of Shuffle, 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.
“We also wanted to build a better rewards platform, as most existing ones are tied to uninspiring brands, devalue the businesses they aim to support, or are quickly forgotten by users. We saw a huge opportunity to invest in and partner with the best hospitality businesses while rewarding customers for spending there, and that’s how Shuffle was born.”
A recent report from AlixPartners and CGA found that four hospitality sites are closing per day throughout the UK, with Manchester losing local favourites such as Trove, Canvas and Firefly already in 2024. Shuffle has identified the need to provide venues with much-needed immediate investment without requiring them to give up company equity as with traditional models like crowdfunding.
Shuffle is committed to investing an initial £2.5 million into Manchester’s ever-growing hospitality network and will launch its consumer facing application later this year.
