INTERNATIONAL. Recent start-up enterprise Coindrum has signed an agreement with travel retail giant Dufry, beginning with a partnership at Milan Malpensa Airport.
As reported, Coindrum allows passengers to convert unwanted coins into airport shopping vouchers. The company claims to have achieved one of the largest seed financing rounds in Irish history. It raised over US$2 million in its latest investment round, with contributions from several leading technology entrepreneurs.
The service, launched at Dublin Airport last year, is the brainchild of Ireland-based German Lukas Decker (Founder & CEO), backed by Ryanair Co-Founder and Irelandia Aviation Managing Partner Declan Ryan.
The latest Coindrum unit is located at the entrance to Dufry’s new flagship store in Malpensa Airport T1. Passengers can deposit unwanted coins and in return receive 110% of their value as an airport shopping voucher.
At a ribbon-cutting to celebrate the new partnership, Diego Marro, T1 Manager for Dufrital (the Italian Dufry joint venture), commented: “Coindrum fits in nicely with our ambition to offer the best possible passenger experience whilst optimising our retail performance.”
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Coindrum’s Lukas Decker (second from left) and Dufry’s Diego Marro celebrate the opening of the new unit |
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Brilliantly simple, simply brilliant: Instead of wasting coins, travellers can now exchange them for shopping vouchers |
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Dufry Vice Chairman (and shareholder) Andrés Holzer said: “Dufry’s size means that any solution that drives better commercial results and is scalable is of interest. Coindrum definitely falls into that category.
“Coins were neglected in the past due to their comparatively low value, it took the Coindrum innovation to demonstrate that they can be used as a psychological trigger to outspend their value at the tills.”
Decker, the 27 year old entrepreneur behind the innovation, said: “Coindrum addresses a simple but global pain point for passengers. The user uptake is testament to the need for the service which with every transaction drives uplift revenue to the tills of our retail partners.”
Coindrum said it has signed several international projects, with more announcements to follow shortly.
Click on the arrow to view how Coindrum works |
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Coindrum is the brainchild of Ireland-based German Lukas Decker |
