London food and drink app raises £2m investment to stimulate growth

London food and drink discovery app nez has raised £2m in funding, bringing the app’s total funding to date to £3m since its inception in 2016.

Funding from investors will see the app increasing profitability of the high street through marketing, developing its advanced technology and data capabilities, as well as updating its new B2B employee benefits platform.

The app recently announced its incredible early engagement figures, showing that more than 385,000 food and drink offers have been redeemed in the app by its 150,000 users, and nez is expecting to hit 200k users by the end of September 2019.

The nez app was founded by CEO Joe Zender, who recognised the need for a digital platform that could connect traders with a local customer base through technology which could deliver local discounts straight to Londoners’ phones.

Joe Zender said: “I came up with the idea of nez as I walked past a restaurant that had a ‘half price’ sign outside, yet it wasn’t getting much attention.

“I realised there must be a gap in the market for an app that features hyper-local, real-time offer in London. To see this vision come to life in an easily functional app, with now over 330 partners is truly incredible and rewarding.

“I can’t wait to see how this funding will help local food and drink businesses and help revive the high street, while providing Londoners with exceptional offers and a vast choice of meals to choose from!”

nez is now working with over 330 partners, from cafes, to bars and restaurants, across central London.

Redemptions have grown tenfold over the last 12 months, including a 40 per cent month-on-month jump in April, following its launch in the city.