Peepl, a British food delivery service that promotes local, carbon-neutral business practices, has announced the successful conclusion of a funding round. Surprisingly, the mayor of Liverpool City Region endorsed it.
According to the Peepl team’s official release, the company raised £700,000 in its most recent investment round. Steve Rotheram, the mayor of Liverpool City Region, backed the funding round.
A new ecosystem for interaction between local restaurants, logistics centers, and customers will be launched with the help of new funds. Peepl’s economic model includes Peepl Tokens, a cryptocurrency created specifically for Peepl (PPL). It will be used as a tool to reward ecosystem participants as well as facilitate money flow into the community.
In essence, PPL tokens will be returned to consumers in the form of a 5-10% rebate. The tokens will be received in exchange for Peepl’s services. For the next 4-5 years, some PPL will be confined to the community. Mayor Rotheram emphasized the innovative nature of the product that he supports:
In the Liverpool City Region, we aren’t the sort to simply follow the crowd. We like to be disrupters; to chart our own course and take great pride in our local businesses and community solidarity. 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.
Bringing crypto and new ethos to food delivery
Peepl co-founder and CEO Leon Rossiter highlights that his creation would be beneficial to community members and will challenge the dominance of food delivery companies such as Just Eat and Uber Eats:
The big delivery apps, alongside ride hailing platforms, extract large amounts of value from each transaction that takes place between people that live and work in the same city. I think most people are waking up to the fact that it doesn’t need to be this way. Advances in blockchain technology, alongside shifting values and laws, mean new business models are possible for the internet, and the local economies we all live in.
The project team will be funded with £500,000, while the remaining £200,000 will be split among Peepl grantees, the eateries in its network.
Peepl has implemented a number of socially responsible initiatives, including employing the Kickstart Scheme to train new hires and recruiting ex-offenders from the Liverpool area.