CheckoutSmart raises £1.5m to reward you for shopping

Cashback app CheckoutSmart has raised £1.5m as it gets the backing of a number of industry leaders.

The London-based startup sends cashback offers straight to a user’s phone when they do grocery shopping.

Investors in the round include Duncan Jennings, founder of vouchercodes.co.uk, and Paul Nikkel, the founder of Quidco, the UK’s leading cashback site.

How it works

CheckoutSmart was founded in 2012 by Chris Howarth, who previously started analytics company Retail Insight.

Through the app, customers can browse the products on offer. They can then go and purchase the products, take a picture of their receipt, and be rewarded with cashback on the purchase straight to the app.

All accrued credit can be then cashed out.

Crowded space?

The iOS and Android apps launched in February 2014 and join a crowded international market.

In the US and Canada, Groupon’s Snap is one of a few apps to offer a very similar service.