Super, a new shopping superapp founded by Samir Desai, who previously led Funding Circle, has opened a waiting list for potential customers. The app aims to challenge major tech companies and card providers by eliminating fees for businesses and offering cashback rewards for shoppers.
Desai, who departed from Funding Circle in September of last year, has successfully raised £22.5 million in one of Europe’s largest pre-seed funding rounds to launch this new venture. Investors include Accel, Local Globe, Union Ventures, and prominent angel investors such as Ron Kalifa, former CEO of WorldPay, and Edward Wray, founder of Betfair.
The Super website and app are now live, featuring a promise of no fees for businesses and instant cashback for consumers. As highlighted on the Super site, the goal is to allow businesses and shoppers to retain more money by eliminating the high fees often charged by payment processors and digital advertising firms, enabling businesses to pass savings directly to consumers in the form of cashback.
Super will serve as a marketplace for consumer brands, who will share the lowered customer acquisition costs with Super and consumers through discounts. Notable brands available on the platform include Converse, Currys, Iceland, and EasyJet, among others.
Desai emphasizes, “Businesses and shoppers have been burdened by exorbitant internet fees for far too long, often without realizing. We believe the Super app can save billions for both shoppers and businesses annually. Amidst rising inflation and living costs, redirecting the substantial profits from payment and digital advertising companies back to users can greatly enhance people’s lives.”
Currently, Super is also recruiting, with six available positions in analytics, data and software engineering, as well as user experience design.