Clev­ergift tees up launch with global re­tail­ers

Founder pre­dicts that gift­ing plat­form could be­come a bil­lion euro rev­enue firm, writes Fearghal O’connor

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE -

NEW on­line gift plat­form Clev­ergift is to an­nounce ma­jor part­ner­ships with a num­ber of well-known global re­tail­ers ahead of its launch later this sum­mer, it is un­der­stood.

The com­pany, based in Dublin’s Sandy­ford, has raised €10m in fund­ing in re­cent times. It has de­vel­oped a highly in­no­va­tive way to al­low on­line re­tail­ers to more suc­cess­fully tap into the tril­lion dol­lar per an­num global mar­ket for gifts.

Kealan Len­non, chief ex­ec­u­tive of Cle­ver­bug, which has de­vel­oped the plat­form af­ter a fouryear re­search and de­vel­op­ment pro­gramme, told the Sun­day In­de­pen­dent that the com­pany is aim­ing to sur­pass the €1bn mark in terms of rev­enue over the next five years.

Cle­ver­bug al­ready runs the suc­cess­ful on­line per­son­alised greet­ing cards store Clev­er­cards, from which the Clev­ergift plat­form has been de­vel­oped.

The new plat­form, he said, was in­spired by the po­ten­tial he sees for it to cap­ture a por­tion of the global gift­ing mar­ket.

The Clev­ergift plat­form al­lows re­tail­ers to add a new one-click but­ton to their own on­line shops to en­able shop­pers to di­rectly buy gifts for friends or fam­ily by sim­ply en­ter­ing the gift re­cip­i­ent’s email ad­dress or mo­bile num­ber.

Shop­pers are di­rected into Clev­ergift’s own plat­form. Once shop­pers choose and pay for a gift the re­cip­i­ent re­ceives an on­line “gift box” which dis­plays the gift but also al­lows them to choose their own size, colour and style of cloth­ing or other prod­uct. The re­cip­i­ent can then en­ter their own pre­ferred de­liv­ery ad­dress and the gift is shipped by the re­tailer.

Clev­ergift also gives re­cip­i­ents the op­tion to swap the gift for a voucher for the re­tailer if they pre­fer.

Ac­cord­ing to Len­non, this brings huge ad­van­tages to re­tail­ers be­cause it can greatly re­duce the amount of re­turned gifts they have to deal with.

The fact that the gift link is de­liv­ered im­me­di­ately via email or text also greatly ex­tends the dead­line for on­line gift buy­ing ahead of key dates such as Christ­mas and St Valen­tine’s Day, al­low­ing re­tail­ers to com­pete di­rectly with Ama­zon’s fast Prime ser­vice, he said.

“This solves some ma­jor prob­lems for re­tail­ers who are cur­rently hav­ing to deal with a very changed en­vi­ron­ment,” said Len­non. “For gift-givers it also al­lows them to pur­chase gifts on­line right up to the day it­self.

“At its heart, Clev­ergift is part of the fintech rev­o­lu­tion. Call it a cryp­tocur­rency if you will, but ef­fec­tively what we do is em­bed a code in each prod­uct that al­lows us to trans­fer value any­where in the world, which is very pow­er­ful.”

In re­cent weeks the com­pany has raised a fur­ther €1.5m tranche of cash ahead of its first ma­jor part­ner­ship an­nounce­ment.

That brings the to­tal amount raised to €10m, with the main back­ers in­clud­ing global in­vest­ment firm Delta Part­ners and a num­ber of high net worth in­di­vid­u­als with back­grounds in the tech­nol­ogy and re­tail sec­tors.

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