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Grocery coupon service SmartCheckout gets $2 million

0 16 October 2013

Smart Checkout, a targeted advertising service for retailers, has raised $2 million from Prostor Capital.

Smart Checkout prints targeted coupons at supermarket checkouts, depending on a customer’s age, buying habits and payment method. Their system, which is based on methods developed by American marketing agency Catalina, uses data connected to a shopper’s loyalty card to determine which coupons are worth offering. Catalina claims to influence 230 million shoppers in the US.   

The system was first launched in Magnit supermarkets in Krasnodar in December 2011. Initial participating companies include P&G, EFES, Kellogg’s, Nestle and Alfa Bank. In September 2013 the system was introduced in 13 “Viktoria” supermarkets. That number was increased to 19 in April 2013, and you can now find Smart Checkout in all Viktoria stores. In August 2013 the system was also introduced into 13 "Monetka" stores in the Ural Region. So far, the company reports that 30% of shoppers use their coupons, a quite impressive take-up rate. 

Alexey Solovev, managing partner of Prostor Capital, describes Smart Checkout as “a revolutionary project that has the potential to radically increase the potential of targeted advertising”. He added that it is “the only project of its kind” in a sector with "enormous potential". 

Prostor Capital is oriented towards projects that have already developed their product and are ready to scale. The $20 million fund’s portfolio includes health website VitaPortal, slide-sharing app Penxy and education network Dnevnik.ru. It is also a member of RusBase's Partners Program

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