A mobile payment app has launched a second bid to raise capital via crowd funding as it continues its mission to be available in 20 UK cities by the end of 2016.
Droplet, which is a fee-free payment app founded in Birmingham in 2012, recently rolled out the service to retailers in seven new cities after securing £575,000 of crowd-funding cash from Crowdcube.
It has now started a second round of bidding via Crowdcube with the aim of raising £450,000 this time.
Droplet is the brainchild of tech entrepreneurs Steffan Aquarone and Will Grant who came up with the idea in 2011 while sitting in independent Birmingham café Urban Coffee Company.
It has also secured a landmark deal with Elior, a global contract catering company that looks after almost four million customers across 13 countries daily.
Mr Aquarone said: "In the UK, £1 in every £7 spent is attached to a loyalty programme. The problem is that most people don't want to carry around a wallet stuffed with paper and plastic cards.
"We know from apps like Starbucks that mobile offers a powerful way for merchants to make things simpler and easier for their customers - but people don't want their phones crammed with different apps either and that's why we built Droplet as a universal app that any business can use.
"Last year, we had an established business and user base but no loyalty features or revenue.
"Since we added rewards to our offer, our active usage has gone up four-fold and our income is growing between 50 and 100 per cent a month.
"Elior adopting Droplet as a form of payment and loyalty scheme at one of their main locations is a major breakthrough for our business and could open the door to working with a whole host of different organisations.
"We're at the stage where we're very nearly ready to raise the sort of money that powers the likes of Deliveroo."