A new smartphone app that pays Gen Z consumers – Zedosh from London is now officially open to brands following a beta test phase. Now, the app has secured £400K in a recent funding round. This investment round came after the £250K pre-seed funding it bagged in early 2020 to disrupt the digital advertising industry.
First regulated Attention Exchange
Zedosh is the first regulated Attention Exchange, which helps businesses to more forensically target their advertising and ensure those customers that watch adverts to completion are fairly rewarded for their time via their app.
The Attention Exchange is Zedosh’s proprietary machine learning engine that matches the right ad to the right consumer at the right time. It is a transparent and fairer way for consumers to choose who gets their focus and time online and then they get paid for it. The audience and brands are matched by using Open Banking data. Users sign up for Zedosh by giving access to the transaction data from their bank accounts.
Guillaume Kendall, Zedosh’s founder and CEO, said: “With the end of third-party cookies in sight and consumers levelling up on data privacy, there is a real opportunity to take digital advertising to the next level. Zedosh provides brands with a much-needed solution by instantly rewarding consumers for watching relevant, targeted content in a distraction-free, brand safe app. In that way, advertisers get to use uninterrupted, quality time with their target audiences to grow their brands.”
Works with several partners
Already, several brands have partnered with Zedosh. These include femcare disruptor Daye, challenger snack brand Well & Truly, and vegan carbon-negative sneaker brand Elliott Footwear. Zedosh is a member of the Conscious Advertising Network and checks every piece of content to ensure it complies with the company’s values before it is published.
Emma Holmes, Senior Marketing Lead at femcare disruptor Daye said: “We started working with Zedosh to contribute to the diversification of our acquisition channels, to improve our blended CAC and reach an audience who are proven to engage with our content. Higher engagement leads to a greater understanding of our multi-layered value proposition and better conversion rates.”
Risk-free for Gen Z users
Founded by Guillaume Kendall, Matt McBride and Alistair Hutchinson in 2020, Zedosh offers brands an audience of engaged, young people who are hard to reach on other platforms, thereby letting them run their hyper-targeted campaigns using banking data that users have consented to share. The new app, which profiles users according to their financial transaction data, is a safe, secure platform for brands.
Zedosh users give explicit permission to analyse their bank transactions instead of their browsing habits. It appeals to Gen Z consumers, who are digitally savvy, open to the idea of financial data sharing, and eager to get a fair share of the attention economy dominated by Google and Facebook. It is unlike the traditional targeting that relies on cookies and brands that frequently interrupts users.
Also, the app offers a wealth of engaging content to attract Gen Z consumers, and shows them how to improve their finances, provides career advice from influencers, and presents fun information videos.
The post London startup Zedosh that rewards Gen Z users for watching ads bags £400K funding appeared first on UKTN (UK Tech News).
