TruRating clinches £9.5m for alternative ratings system to TripAdvisor and Yelp!
Start-up founded by 'Inspiring Woman' Georgina Nelson is looking to US expansion with new partnerships in the pipeline...
TruRating, the Startups 100-featured mass point-of-payment consumer rating system, has closed a £9.5m Series A funding round led by private investment group Sandaire.
Founded in 2014 by Georgina Nelson – named one of the UK's most inspiring female start-up founders– TruRating’s system offers an alternative model to TripAdvisor and Yelp! by enabling every customer using a payment terminal to rate one of five questions on service, value, product, experience, and likelihood to recommend the brand on a scale of one to nine.
The company claims that nine out of 10 paying consumers answer questions when prompted, enabling retailers to access real-time feedback and respond accordingly.
Now live in the UK and Australia and working with chains such as Ping Pong, Franco Manca and Arco, the start-up recently hit two million ratings and will eventually make its information available to consumers online.
The finance has been raised in advance of TruRating's launch with its first payment partners and merchants in the US.
Nelson commented: “Our aim is to bring honesty and transparency back to consumer ratings globally. We have had an incredible year, building a world-class service with our partners and customers. Securing this funding will help us take TruRating to the next level.
“We will be announcing more payment partnerships in the coming months. These will allow us to open up TruRating to even more merchants and as a result some very big household names will be working with us by the end of the year, adding millions more ratings every day.”