- Metro Mayor of Liverpool City Region announces £700,000 investment in Peepl.
- This will help connect local restaurants to boost the local economy.
- Local restaurants can now compete with food delivery giants.
Metro Mayor of the Liverpool City Region — Steve Rotheram, happily announces a £700,000 investment in Peepl. The latter will help bring new payments and rewards technology to local restaurants.
In detail, the £700,000 investment comprises £500,000 for funding the Peepl infrastructure and team. Likewise, the remaining £200,000 will fund ‘kickstarter’ grants directly for the restaurants. This will empower them to begin offering incentivized deals to their customers.
Thus, with this in place, local restaurants can begin to truly compete against food delivery giants in the industry. This includes Just Eat, Uber (NYSE:UBER) Eats, and Deliveroo. Peepl takes an ethical, community-driven food delivery approach.
In fact, the technology focuses on elevating low-carbon delivery solutions. It does so by connecting partner apps with local restaurants to customers. In turn, restaurants will pay low fees and benefit from a reward token that will continuously bring more revenue to the community.
Food Delivery Giants Hinder Local Economic Growth
Looking back, in times of the pandemic’s lockdown phase, restaurants mostly turned to delivery and take away orders. During this time, they turned to the existing food delivery platforms. In such cases, most of the restaurants had to pay up to 37.5% in commission to the platform for every order made.
Here’s where Peepl makes a difference. It allows restaurants to save up to 50% in overall expenses with the same service. More so, Peepl’s software comes with a form of localized currency known as ‘Peepl Tokens’. These tokens will flow between the buyers and sellers on the network. In this case, it works between the restaurants and those ordering their food.
In addition, Peepl rewards its customers. Each one enjoys a 5-10% return as a reward from the price of their orders. To add on, the token also has the ability to cover costs within the Peepl network. In fact, these tokens will be locked onto the network for 4-6 years. This ensures that the tokens will be spent within the network to circulate the money within the region’s economy.
Rotheram highlights that Liverpool City Region is the type to be disruptors. He says they do not aim to follow the crown but rather work to “chart their own course”. Furthermore, he states that they take pride in their local businesses and aim to build community solidarity.
To emphasize, he adds,
Peepl has the potential to radically disrupt the food delivery market by bringing together all those values and injecting a lot more fairness – for riders and restaurants alike – to an industry not known for its treatment of workers.
Meanwhile, CEO & Co-Founder of Peepl — Leon Rossiter, says that most people are opening their eyes now. Specifically, they see that things could be better. Therefore, with technological advancements in blockchain, new business models, and shifting laws and values, local economies can truly begin to thrive.