Desai stepped down from Funding Circle in September last year and has since raised £22.5m in one of the largest pre-seed funding rounds in Europe to get his new venture off the ground. Investors in the business include Accel, Local Globe and Union Ventures, alongside a number of high-profile angel investors including the former CEO of WorldPay Ron Kalifa and founder of Betfair, Edward Wray.
The Super Website and app is now live, promising to provide free payments for businesses and instant cashback rewards for consumers.
According to the Super website: “We want businesses and shoppers to keep more of their money. We’re making it possible by eliminating the high fees on the internet charged by payments and digital advertising companies so that businesses can pass on these extra savings as cashback.”
Super will act as a shopping window for consumer brands, who will pass on the cheaper costs of acquisition in commission payments shared between Super and consumers via discounts on products. High profile brands already listed on the Website include Converse, Currys, Iceland and EasyJet among others.
Says Desai: “Businesses and shoppers have been stung by huge fees on the internet for too long, in many cases without even knowing. We believe that the simple Super app can save shoppers and businesses billions a year. At a time of high inflation and increases in the cost of living, redistributing the huge profits of payment and digital advertising companies back to users will significantly improve people’s lives.”
Super is currently on a mini-recruitment drive, listing six job opportunities for analytics, data and software engineers, and user experience design-led roles.,Super, a new shopping superapp from the founder of Funding Circle, Samir Desai, has opened a waiting list for prospective customers, promising to take on tech giants and card companies by scrapping fees for businesses and rewarding shoppers for purchases.,
