Laidlaw Scholars Ventures

Our Portfolio – ProMotion

ProMotion Rewards – Helping Brands Understand and Transform Consumer Behaviours

ProMotion Rewards is a consumer rewards company helping brands understand consumer behaviours, and transform them, within a closed-loop environment. They have created a mobile application, rewarding consumers for scanning their physical and digital shopping receipts, in exchange for points which can be spent on anything from gift cards to donations. ProMotion Rewards works with leading Consumer Goods brands to provide insight into consumer behaviour and its user base with personalised, targeted offers based on purchase and psychographic data. The platform can also be used to perform qualitative analysis for brands wishing to understand their customers and market better.

Why We Invested

Laidlaw Scholars Ventures is pleased to announce that it has led a €700k investment round into ProMotion Rewards, a user rewards platform that delivers consumer insight to brands so that they can better understand their customers. Their consumer app allows users to upload or forward receipts from their daily activity, receiving points for each one which can be converted into cash. Bonus awards can be claimed by participating in surveys, buying brand partner products, or referring friends. ProMotion work with brand partners to deliver insight into their customers’ buying behaviours through an insight platform, whilst also offering the ability to offer personalised awards through the platform.

Bidemi Afolabi, CEO and Laidlaw Scholar, came to London, from their base in DogPatch Labs Dublin, to pitch LSV very early in their development, and we have been delighted to have tracked their progress through to launch in the past months. He is very bright, industrious and possesses a huge desire to learn, which has seen him teach himself to be a full stack developer, whilst completing his masters in Pharmacy at Trinity College Dublin. He has built a group of advisors and mentors who we were introduced to, and a common theme emerged of a man determined to solve a problem and work collaboratively to achieve this.

His co-founder Lauren O’ Reilly is similarly impressive and has won a raft of entrepreneurship awards in her short tenure as COO of ProMotion. Importantly, they complement each other well, share a vision for what they are trying to build and seem to be really enjoying the hard work required to get this product and company off the ground. They were an easy pair to back.

The product itself is tackling one of the biggest problems that consumer (CPG) brands such as Unilever and Mondelez face, which is that as a result of selling through wholesalers and retailers, they are a couple of steps removed from their end customers. Having access to data directly from the end user and even being able to contact them with specific promotions or questions gives them the ability to segregate different personas for messaging, offers or even acquisition from competitors, all through a value exchange with the customer that means their data is protected and fully consent-driven. Several Direct-to-Consumer brands have emerged in recent times specifically leveraging this advantage, but this remains hard for the volume of products in CPG ownership, and therefore this data is extremely valuable to them.

We are delighted that we have been able to support this highly ambitious team and we will be working closely with them as they continue the rapid growth of both their user base and their CPG client roster.

About the Laidlaw Scholar

Bidemi Afolabi is the Co-Founder and CEO of ProMotion Rewards. He is a qualified Pharmacist (BSc, MSc, MPSI), passionate about technology, and specifically interested in the decentralisation of data, and finance. He has been listed as one of Ireland’s 30 under 30 in Business (Irish Independent) and Technology (Sunday Business Post). He attended the prestigious Clongowes Wood College for his Second-Level Education, after receiving a Scholarship to attend.

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