Peter Jones’s “prodigy” has raised seed funding for his AI-driven discount platform
Tipped to be a future Dragon at just 17, Chris Ball's start-up JustSave.co.uk has bagged £150,000 to fix consumer trust in online discounting
A 26-year-old entrepreneur, who was first spotted by Dragons' Den investor Peter Jones when he was just 17, has raised £150,000 in seed funding in a bid to fix consumer trust issues over online discounting sites.
JustSave.co.uk, which was founded by Chris Ball and is already valued at £1m, offers online consumers a whole host of discounts across a range of major brands – and uses AI-infused tech to successfully validate each offer.
According to the online platform, 78% of shoppers who use voucher code websites don’t have complete trust that the discounts will actually work.
Invited to be a member of the Dragon's first ever enterprise academy before he was legally able to buy a drink, Ball graduated as the alumni who was “most likely to become a dragon”.
This isn't the first time investor Jones, who is the last remaining original Dragon in the Den having taken his seat back in 2005, has earmarked young talent.
Running for over 12 years, the Peter Jones Foundation runs a number of initiatives, campaigns and awards to ensure students reach their full entrepreneurial potential.
Just last July, serial investor Jones pumped £5,000 into SwiftShot Airborne, a drone start-up founded by 18-year-old entrepreneur Jack Brookes – who was named the Peter Jones Enterprise Academy’s National Entrepreneur of the Year.
While the Peter Jones Enterprise Academy (PJEA), launched in 2009, travels to campuses across the UK providing business workshops.
Jones is also the founder of Tycoon in Schools – a free national enterprise scheme which gives students the chance to run a business while in secondary school or college.
An industry worth worth between £90-100m a year and collectively driving £1.2bn into the UK economy, big name players in the discount sector includes MyVoucherCodes which was founded by Young Gun Mark Pearson, Startups 100-ranked Flubit and Pouch.
Appearing on Dragons' Den in August and receiving offers from all Dragons including Jones, co-founders of Pouch and fellow young entrepreneurs Ben Corrigan and Jonny Plein recently blogged for Startups about their experience.
Talking about his latest investment round and opportunity for growth, Ball said:
“The industry is dominated by three big players and innovation has been lacking. We have listened to consumers annoyances with the major market makers and invested in offering a frictionless experience rather than one that frustrates.
“Artificial Intelligence is starting to play a role in all aspects of commerce and our application of it is a first for the online discounting market. I want to offer online discounts that just work.”