RedCrox.com, the European e-commerce gamification startup based in Prague has selected Fundlift.cz for funding Redcrox Ventures.
After a successful pre-seed round with Ott Partners in May,2016, RedCrox.com, the innovative platform which combines shopping and gaming, turns to crowdfunding to finance its development plan in the Czech & Slovak Republic. Prague, Czech Republic (December 08, 2016) – RedCrox.com, the innovative Prague-based global shopping platform, has been the first to introduce into the shopping process a new online gaming concept based on receipts, reinventing the way consumers shop. While discount schemes have been on the rise, no entity has given the ultimate discount—100% CashBack, and so much fun to get it.
RedCrox’s model is disruptive for the gaming industry because it allows an alternative to gambling with 0% risk for the users. Consumers can make a purchase and “play” their receipts to win 100% CashBack. Retailers pay RedCrox.com a commission, as they gain a real competitive advantage for acquiring clients and retaining them. Users, while shopping, use their skills and likeness for sports and entertainment. With a very talented international team and global ambitions, the Prague-based startup seeks capital from local investors to finance its Czech and Slovak commercial development.
“After a period of beta testing among a large number of testers in six countries, we are launching and rolling out RedCrox.com in the Czech Republic and Slovakia, which shall become the very first countries to fully operate before widening our international development,” said Stephen John Alexander Flanagan, Founder and CEO of RedCrox.com. “The gamification SHOP-PLAY-WIN model is unique “BtoBtoC“ model for the e-commerce and retail industry. With local brands like Bata, Damejidlo, Alo Diamonds, Akuna, Alza already contracted to be followed by the successful Rohlik.cz by the end of the year, we have started building a large client base domestically. Working intensivelly with Microsoft Czech Republic in order to improve our technology and AI features gives us confidence that we’ll grow fast. My partners and I believe that Fundlift brings and an innovative way to invest into startups for a large spectrum of investors who are seeking opportunities even with much smaller stakes. With Fundlift now everyone can invest in a startup, a privilege reserved to the large venture capitalists and banks in the past.”
More than 300 local and global retailers are members of RedCrox.com Shopping Park, with new partners coming on board daily. Notable global brands include Amazon, Ali Express, GAP, Banana Republic, IHG (Intercontinental Hotels Group), Guess, Etihad Airlines, Qatar Airways, Billabong, New Balance, with local large invetories from Bata, Alza, Tescoma, DameJidlo, Alo Diamonds, Alexandria Tours, etc.
The technology behind RedCrox involves artificial intelligence which analysesconsumer behavior and deeply profiles users interest and shopping habits. AI features will give RedCrox.com and its shopping partners in the near future a better understanding of how to service their respective core demographic bases and also allow marketing efforts with taylor-made offers and promotions. For a retailer partner, the aim is to simplify the purchasing process by introducing the specific products and services consumers are interested in buying. The big data being produced is based on highly verified data from shoppers. By following patterns of shopping behavior, a successful ecommerce platform and larger revenue stream can be built and used as a marketing tool.
Jean-François Ott, the serial French entrepreneur and chairman of Ott Partners highlighted the market context: “Competition between retailers and brands is at a climax but the marketing tools remain the same old ones whatever the client and the market. RedCrox.com addresses the audacious retailer who understands that shopping needs new experience based on entertainment and personal fulfilment. Startup retailers understand and love RedCrox as it is a marketing tool that continues after the purchase takes place and that they pay for only based on success. And it creates a hook that brings clients back in !“
Nicolas Tommasini, CEO of Ott Partners, underlined that it was a rare example of the launch of a global concept in Prague, with the opportunity for the Czech investors to participate at an early stage. Mr Tommasini is no stranger to Czech-based success stories, having among many other ventures, developed the MaMaison Hotel & Residences brand out of a Prague success story..
About RedCrox.com and RedCrox Ventures
Founded in 2013, the European-based startup RedCrox.com, a global gamification of shopping platform with more than 300 shopping partners is ready for commercial roll out. RedCrox.com is a synergetic mix of shopping and gaming where consumers can win what they buy by selecting the winners of various events containing mostly sports and entertainment. For consumers, RedCrox.com is a game without risk and a new way to have fun while and after shopping; for merchants, it’s a marketing tool, helping them to boost sales and gain new costumers. RedCrox.com is founded by Irish entrepreneur and top executive Stephen John Alexander Flanagan, known to the Czech public as promoter of Czech Golf Open 2009-2011 and General Manager of Proser Golf Resort Celadna. Backed by serial enterpreneurs Jean Francois Ott (founder and former CEO of the multi-Billion ORCO Property Group) with over 200 successful projects and a dozen of brands and Nicolas Tommasini, RedCrox has build a strong board of advisors including former P&G and PPF Group Martin Dybal and the former head of Microsoft Czech Republic Roman Cabalek. Changing the way a person shops, it’s not disruption, it’s revolution. Visit http://www.redcrox.com to learn more or to sign up for a free membership.
RedCrox Ventures is the Czech subsidiary of RedCrox.com. Czech Republic and Slovakia are the first and priority countries within the global commercial roll out plan of RedCrox.com.
Kontakt:
Stephen John Alexander Flanagan
+420 727 971 091