Mobile chat startup launches crowdfunding round to raise £650k investment

Yapster, the mobile chat app, has launched its first equity crowdfunding round on Crowdcube.

Specifically designed for companies with mobile workforces, such as those in retail and hospitality, Yapster provides internal communications for brands like Ann Summers, Caffè Nero and Dunelm.

Staff can send 1-1 and group messages, initiate flash polls, and post to the company newsfeed all within a ‘safe space’ that is only accessible to others in the same organisation.

The London-based startup is looking for £650k in return for 6.5% equity to grow its development and operations teams following new contract wins.

The company also plans to increase investment in business development to capitalise on growing interest being fuelled by the implementation of the EU General Data Protection Regulation (GDPR) on 25th May.

According to Yapster’s market research, over 50% of store managers at the UK’s top 100 retailers said that they currently use WhatsApp, Facebook Messenger or personal text message as their main method of communication with their teams.

Yapster said that the general consensus amongst industry experts is that companies that continue to rely on these channels will be exposed to the risks of GDPR non-compliance.

Yapster is led by co-founders Rob Liddiard (CEO and a former corporate lawyer) and Craig McMillan (CTO and a graduate of Cambridge’s school of Computer Science).

CEO Rob Liddiard said: “In less than three years we’ve turned a conversation in the pub into a valuable communications tool that’s now in the hands of thousands of staff working for some of the best known names on the high street.

“Our window of opportunity is wide open right now. GDPR will lead to many big employers moving away from WhatsApp and Facebook, so we are gearing up for significant growth over the next 12-18 months in a market estimated to be worth over £1bn a year.”

Matthew Dashper-Hughes, former Ryman COO, added: “The speed and dynamic responsiveness of direct messaging makes it an obvious tool for businesses to use for many purposes - from motivating and engaging teams for specific incentives through to simple things like managing staff rotations.

“The great thing about Yapster is that the platform can be moderated to prevent any inappropriate behaviours. I would love to see it go on to become a ubiquitous business tool.”