Since rebranding six months ago, Sydney-based ecommerce startup Hey You has grown 400 percent, boasting 65,000 transactions per week, and 10,000 orders a day.
Hey You was born following the merger of Beat the Q, Posse, and E-Coffee Card last August. Co-founder Rebekah Campbell said the decision to combine all three products enables users to order, pay, gain loyalty benefits, and connect with storeowners on one platform.
"The idea of bringing the companies together, and rebranding, was because none of the existing brands we had really spoke to our vision: To be all on one app for customers, and a valuable tool for merchants to interact with customers through promotions and to get insight," she said.
As part of the rebrand, Hey You also successfully raised AU$5 million as part of a Series A funding round that was backed by Westpac. As part of the backing, Campbell said Hey You was integrated into each of Westpac Group's banking apps, including Westpac, St George Bank, Bank of Melbourne, and Bank SA.
Campbell attributed part of the company's significant growth so far to the exposure Hey You has had to customers of the Westpac Group, where sign ups have increased by 50 percent in the last two months. She also noted the company's partnership with Westpac gave it another level of credibility, particularly when bringing on board new merchants.
Campbell added the uptake of Hey You is indicative of the demand by consumers for cashless payments, highlighting that people don't carry cash as much anymore.
Some recent partnerships Hey You have secured include the Australian Open to allow spectators to order via the app without leaving their seat, Uber, Mr Boa, and Grumpy Donuts.
Campbell revealed that with a team of 45 and offices in Sydney, Brisbane, and Melbourne, there are plans to run another capital raising to enable further expansion in Adelaide, and also to target the pub and bars market and introduce more lunch venues to the system in 2016.