CashBackMobileApp

CashBackApp operates as a customer loyalty platform in Kenya, targeting middle to lower-income consumers grappling with inflationary pressures. Formed in late 2018 by Simon Ngigi, who was later joined by Allan Thiga, the company began operations in 2019. Ngigi, the CEO, brings experience from management consulting with firms like Bain and KPMG, as well as in financial services with institutions such as the IFC and Barclays. The platform was conceived to help shoppers save on everyday groceries while enabling Fast-Moving Consumer Goods (FMCG) companies to foster customer loyalty.

The company's primary service is a mobile application that allows users to earn real cashback on purchases, which is then disbursed via the M-Pesa mobile money service. The process for the consumer involves checking the app for available offers at participating supermarkets, purchasing the promoted items, and then scanning the receipt's barcode to claim the cashback. The firm's business model centers on charging FMCG companies a commission for each cashback offer that is redeemed by a consumer. Additionally, CashBackApp plans to monetize the consumer insights and data generated from the platform and through advertising. This data provides FMCG clients with actionable insights into their markets.

A significant milestone was achieved in August 2021, when CashBackApp secured US$475,000 in a pre-seed funding round. The investment came from a mix of institutional investors, including Lofty Inc, Sherpa Ventures, and Loyal VC, along with angel investors from the US, UK, Nigeria, and Kenya. This capital was earmarked for scaling services within Kenya and preparing for regional expansion. The company has established partnerships with major FMCG brands like Coca-Cola, Colgate, and Ajab, and its retail network includes large chains such as Naivas, QuickMart, Khetias, and Eastmatt. Initially focused on supermarkets, the service has expanded to include local neighborhood shops, or "Mtaani Dukas," through its "CashBack Mtaani" solution, with ambitions to add restaurants, beauty shops, and financial services.

Keywords: mobile cashback, Kenyan fintech, FMCG loyalty, M-Pesa rewards, grocery savings, retail promotions, customer loyalty platform, shopper rewards app, receipt scanning, Simon Ngigi, Allan Thiga, Lofty Inc, Sherpa Ventures, consumer data insights, African retail tech, supermarket deals, digital coupons Kenya, mobile money cashback, shopper analytics, Coca-Cola promotions, Colgate offers, Naivas rewards, QuickMart deals, Eastmatt savings