Coindrum

Coindrum provides self-service kiosks that address the inconvenience of holding unwanted coins, targeting both the travel retail and high-street sectors. The company was founded in 2012 by Lukas Decker, a frequent traveler who conceived the idea while paying a motorway toll in Italy. Decker, a German national with a business background and a master's degree in international management, identified a dual opportunity: solving a common traveler frustration and driving sales for retailers.

The initial business model focused on airports, where travelers deposit leftover foreign coins into a Coindrum machine. In return, they receive a shopping voucher for airport retailers, such as Duty-Free, valued at 110% of the deposited coins. This 10% bonus is effectively a discount funded by the retail partner to incentivize purchases and convert more passengers into shoppers. Data showed that customers often spend significantly more than the voucher's value, boosting retailer revenue. The company's first trial launched at Dublin Airport in 2014, which led to a key partnership with Dufry, a major global travel retailer. Coindrum's early traction attracted notable investors, including Ryanair co-founder Declan Ryan.

Coindrum has since expanded its model to include high-street retailers, such as supermarkets. In this setting, customers can deposit larger amounts of domestic coins and receive a cash voucher for redemption at the till. This service helps retailers by increasing foot traffic, locking in customer spending, and providing a source of recycled coins for their own tills. The company generates revenue by partnering with these retail chains. The machines are equipped with touch screens and real-time backend data syncing, allowing for remote monitoring of transactions and kiosk status.

Keywords: coin conversion, travel retail solutions, airport retail, duty-free vouchers, high-street retail, customer convenience, self-service kiosks, retail technology, shopper incentives, Lukas Decker, foreign currency exchange, cash voucher systems, retail footfall, in-store technology, airport services, consumer spending, Dufry, Declan Ryan, Dublin Airport