The tech entrepreneur behind an app which allows users to order and pay for food – while also providing customer insight – has received a six-figure investment.
SWOOPOS, developed by Birmingham-based Lee Nazari, is a point-of-sale system aimed at helping merchants take advantage of mobile payments, cashless transactions, mPOS solutions, loyalty rewards and data analytics software.
Its parent company, Mobile Pay Systems, has received £300k of investment from private investors for a five per cent share in the business, valuing it at £6 million.
Funding will be used to support SWOOPOS’ further business development which includes setting up a 24-hour support team to deal with customer queries.
Around 80 businesses across the Midlands are using SWOOPOS and Nazari hopes to see that figure increase to 300 at locations across the country by the end of the year.
He said: “I’ve been involved with the retail industry in some capacity since I was 12 when my father opened a business of his own.
“I am an ideas guy so when I go into a restaurant or a shop, and see some of the problems customers may be having with payment or other things, I come up with ways to fix them.
“That’s really where SWOOPOS came from.”
He added: “SWOOPOS is an easy to use, all in one system for a range of businesses.
“Users have a convenient way pick out and pay for food by using the SWOOPE APP which connects to the system, and it has the added value for businesses as they can study customer trends and develop new products and services. It also has an inventory management function.”
To support his business Lee joined Entrepreneurial Spark Powered By NatWest.
Lee Currier, entrepreneur development manager at the bank, said: “Since joining the programme Lee has shown commitment to the evolving his business and embracing change.
“He is innovative and has developed a fantastic product with SWOOPOS which has incredible potential.”