People’s Champion finalist 2017: TruRating

Start-up name: TruRating
Founder: Georgina Nelson
Started in: March 2015
Based in: London
Business description: Mass point-of-payment consumer rating system

Shortlisted category:

Tech Business of the Year

The TruRating story:

That customers will ‘vote with their feet’ is an old saying in business. But it can be a real cause of frustration for so many companies.

While traditional British etiquette compels disgruntled customers to bite their lip and tell a shop assistant or waiter they loved everything, a sudden and unexpected drop in footfall can leave business owners scratching their heads and wondering where the warning signs were.

Aiming to provide a constant and consistent flow of consumer feedback for business owners, while protecting the anonymity of the customers, TruRating is a mass point-of-payment consumer rating system.

Activated while customers are using the chip and pin pad, the discreet rating request allows users to rate an aspect of their experience by keying in a score of between 0 and 9.

Allowing businesses to identify specific areas they’re performing well at or areas that need to be improved, TruRating claims the process is so simple that 88% of shoppers give a rating when prompted to do so.

A Software as a Service (SaaS) revenue model, merchants pay £20 a month per outlet to activate question-asking functionality on their payment systems, while consumers benefit from an index of the highest rated businesses in their area.

Founded by Georgina Nelson, the female entrepreneur launched TruRating despite having absolutely no experience in the payments sector whatever.

Already live in hundreds of outlets in the UK, Canada, and Australia, including JD Sport, Nike, Delaware North, Maxol and New Balance, the start-up generates roughly 100,000 ratings a day and nearly 1,000,000 a week.

Having raised £9.5m Series A in August 2016, the tech start-up is eyeing a target of generating one billion ratings by 2018.

Now employing more than 40 people, the Startups 100-ranked business is already partnered with 70% of the UK’s payment providers, and will look to expand its offering by providing clients with detailed analytics on consumer spending patterns and product level information in the near future.

Why TruRating made our shortlist:

Founded by a driven and determined entrepreneur with no experience in the sector, TruRating’s rapid growth and early international expansion is testament to its simplicity for consumers and the value it provides for business owners.

Where to find out more about TruRating:

Website: www.trurating.com
Twitter: @truRating