ZenOwn banks €1.4m to revolutionise post-purchase experience

While pre-purchase and purchase has been revolutionized over the past 10-15 years, making it easier for consumers to browse and buy products, post-purchase has remained outdated. Co-founders Blaz Bevz and Ladislav Klinc embarked on a mission to fill the gap with a platform that makes it easier for consumers to keep track of their durable products, find product explanation videos, insure products in a single tap, repair products and empower the circular economy by enabling an easy sell or give-away at the end of products’ life cycle.

Through their ZenOwn mobile application, users scan their receipt from which the startup identifies the product purchased to provide its information and post-purchase offers such as warranty claims and reminders, tutorials or user manuals. So far, over 10’000 users in Switzerland, Germany and the rest of Western Europe have scanned more than 5000 receipts.

The solution also empowers brands, retail and insurance partners to jointly deliver a superior post-purchase experience and build a lasting relationship with their consumer base. Currently, the 2019-launched-startup has signed agreements with 12 brands (including Equa, Goat Story, w’air and two of the top 100 consumer goods companies) and insurance companies such as Lings by Generali in Switzerland. Collaborations with service companies, such as Mila (the leading European on-demand tech service) and four of Europe’s leading Fintechs, will allow the startup to offer a comprehensive solution to its clients.

ZenOwn, which currently is a participant in two Plug & Play accelerators in Munich - Brand/Retail & Insurtech, looks forward to a busy 2022, thanks to fresh capital injection. The startup has raised €1.4 million in the seed round led by SICTIC investors and in co-investment with Century Oak, Gigahertz Ventures, Christoph Jentzsch, Johan S. Froeshaug and other prominent European business angels. The fund raised will enable ZenOwn to further expand its current 9-member team with more tech and business experts, increase the feature offering and accelerate its presence within Europe.

“We are really excited about our roadmap. For example, in collaboration with our insurance partner we will be rolling out a truly innovative on-demand insurance in one of our core markets. Imagine insuring a product with a simple tap, truly on demand; and turning it off when not used. We strive for consumer centricity and there are plenty more solutions launching that our users and partners have been asking for”, says co-founder and CTO Ladislav Klinc.

(Press release/RAN)