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Boom25 introduces a new cash-back model. Instead of accumulating a percentage of every purchase, shoppers on the company’s ecommerce site enter a cash-back sweepstake. The company, which operates in the U.K., raised $1 Million in August.
Israel-based ecommerce startup Boom25 (UK) Ltd. is looking to tap into the growing ecommerce industry by introducing a new model of cash-back customer reward program. Instead of accumulating a percentage out of every purchase, shoppers on Boom25’s site enter a cash-back sweepstake, in which every 25th purchase is refunded in full. Headquartered in Tel Aviv with an additional office in London, Boom25 was founded in 2017 by entrepreneur Giora Mendel and advocate Zachi Zach.