Temptster, an app developed by Irish man Ollie Fegan, has secured an investment of €100,000 from an RTÉ Dragon.
Tech investor and Dragon Sean O’Sullivan will pay €100,000 for 20% of the business. This is only the second time in the history of the show that such a big sum of money was pledged by a single investor.
“Before I entered the Den I had decided that my ideal investment partner would be Sean O’Sullivan, given his successful background in technology. Sean’s experience will be of huge benefit to Temptster and I’m really looking forward to his invaluable advice,” says Fegan.
Launched in February 2013, the free app uses GPS technology to identify the user’s location and displays all available offers in nearby bars and restaurants. If restaurants are quiet, they can try to bring in customers by posting offers such as discounts or complimentary meals or drinks. The table booking is then guaranteed via Temptster, for both the restaurant and the customer.
“Empty tables and last minute cancellations cost Dublin restaurants, clubs, and bars millions of euro every year, and cause havoc to profit margins. Temptster is a real time solution to reaching customers as well as a fantastic resource for people socialising or living in town. Restaurants love the business opportunity Temptster represents, and for the public it’s all about spontaneity and the chance to bag a great deal,” says Fegan.
This capital injection for Temptster will be put towards the development of the app across more platforms as well as the planned UK launch, which is currently in the pipeline. Temptster is also supported by Enterprise Ireland and is aiming for global expansion through a partnership with an international backer.
Fade Street Social, Diep Le Shaker, Carluccios, The Unicorn, Bang, Jaipur, and Salamanca are among over one hundred Dublin restaurants currently signed-up to the new app. Temptster is an Enterprise Ireland backed Irish start-up.