TiPJAR, a cashless tipping platform on a mission to bring fair, transparent peer-to-peer tipping to the hospitality industry, has raised £1 million from more than 750 investors on Crowdcube.
Founded by James Brown of BrewDog and backed by Alex Moore of Rosa’s, Gary Dolman of Monzo and Simon Bocca, formerly of Fourth, TiPJAR crushed its original funding target of £400,000 in hours and with over a week of funding time still left on the pitch.
Backers include Honest Burger co-founders Phil Eeles and Tom Barton, plus a host of other industry experts who back their vision of bringing transparency and staff control over their tips via TiPJAR’s HMRC-cleared platform which connects customers and staff directly.
TiPJAR exists to help tipped workers as cash disappears. This raise will turbo-boost our huge vision, and help us fulfil TiPJAR’s potential to bring fair and transparent cashless tipping to the world,” said CEO Ben Thomas.
“As a company built on sharing gratitude: today the tables have turned as we share how grateful we are to all 770 people that have chosen to back our business so far.
“These funds will really give us more growth capital and enable us to invest more into our US Team as well as turbo charge our trajectory for expansion across the globe.”
Brown added: “The results of this raise to date proves that the world is changing their perception of the industry, and are finally seeing the desperate need for transparency surrounding tips.
“Our dedication to this cause is why so many have already chosen to invest in our business. I couldn’t be more proud of all that Ben and the TiPJAR team members in the UK, US and EU have achieved in such a short space of time.”
TiPJAR has now launched in over 1,650 venues across four countries, and plans to use the funds raised to further expand into the US market – where it has recently partnered with Visa to help workers who are earning less as cash payments decline.Crowdfunding