Personalised gift cards you can spend anywhere in the world that accepts MasterCard
Available to spend online and in-store at over 30 million locations around the world that accept MasterCard, LoveFromMe is changing the face of the gift card market, currently estimated to be worth over £5 billion, according to The UK Gift Card and Voucher Association, 2013.
LoveFromMe achieved revenues of £1.175m in 2016, with over 3,600 orders fulfilled and sales deriving from 36 different countries. The business has to date demonstrated through organic growth alone, that there is a huge market potential to launch a product successfully in under two years.
- 20,000 gift cards are purchased every hour in the UK. That’s on average three gift cards per person per year
- The average gift card purchase is £25 and these cards usually tie people to a specific retailer or retailing group
- The vast majority of these cards sit in an unregulated arena and are legally null and void if the retailer goes out of business
- The average card load value for corporate LoveFromMe customers is £118 and the average card load value for consumer gift purchases is £99. Furthermore, funds are securely held by a MasterCard licensed user
- The UK gift market is worth over £5 billion a year and growing
- 50% is estimated to be consumer, 50% corporate gifting
- The vast majority are single user or multi-retailer
- Corporate clients include Goodyear, Travelodge and T.M. Lewin
Thish De Zoysa, Co-founder and Director, LoveFromMe, stated: “Store-specific gift cards that can’t be spent online can be such a burden to the recipient, as can just a gift of cash because it is so easy to spend on something other than a gift. LoveFromMe has changed the way gift cards are both used and purchased and has completely re-energised a stagnant and old-fashioned market.”
Alan McLaren, Co-founder of BREAL Capital and previously CEO of GMAC Commercial Finance and CEO of Landsbanki Commercial Finance, added: “I am delighted to be an investor and board advisor to LoveFromMe. Through my previous experience I understand how important it is to develop a brand that connects with consumers and wins their loyalty. There is a rapidly growing consumer and corporate need for flexibility and security of gift cards that LoveFromMe gives.
“I was an original seed investor in the business and have been so impressed with what the business has built with very limited resources that I have invested in the Crowd Fund.”