Founded in 2015 by Lee Clarke and Greg Gormley, Bink is on a mission to revolutionise consumer engagement with loyalty programmes. The unique Bink platform is out to address consumers’ growing frustrations with the complexity and difficulty of engaging with loyalty programmes.
To maximise ease, it enables consumers to manage all of their loyalty programmes from one central location and securely link their payment cards, enabling them to be automatically rewarded every time they shop.
"We can identify the individual customer on behalf of the store and we provide a consolidation of all their loyalty programmes in one platform," says Marketing Manager Kay Gibbon. "We are relatively young, we haven't got too many wrinkles at the moment," but the innovative company has garnered a swath of interest nonetheless.
This February, Bink closed an over-subscribed £10m funding round led by Barclays, who will take a minority stake in the firm. “This is an extremely exciting time for Bink. Our strategic partnership with Barclays coupled with our latest funding round and strengthened leadership team, means that we are well positioned to realise our ambitions in the year ahead," says Bink CEO, Mike Jordan.
Retailers that partner with Bink benefit from more accurate information about their customers and their spending habits, as the Bink technology identifies shoppers at point of sale every time they use their linked payment card. In addition, it is easier for merchants to acquire new members to their loyalty programmes while also benefitting from increased efficiencies at the point of sale, as cashiers will no longer need to scan membership cards.
With headquarters based in Ascot, Bink needed a base space in London with easy access to transport hubs. "Having flexible space in London is vital for our business," says Gibbon. "We have lots of external meetings and predominantly our partners or potential partners are in London. Being so close to London from the Vauxhall offices is just a great location."
The company opted for Club Workspace membership, initially starting out at Cargo Works in Waterloo before switching things up and moving to Club Workspace China Works in Vauxhall. "China Works is a very trendy space with a start-up atmosphere, " says Gibbon. "The Club Workspace model is perfect for us, we haven't got set days and times that we're in London so just having that flexibility is ideal."
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