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Wednesday 15 September 2021

Zedosh bags dosh to grab your attention for brands

logoI appreciate – indeed highly value – it when an entrepreneur calls to give me some ‘therapy’ on a piece I have written, especially when I have got the facts wrong (yes, it does happen).

So having just heard from Guillaume Kendall, founder of London-based adtech startup, Zedosh I am delighted to put the story straight. Founded in 2019, Zedosh has just raised £400k from an unnamed source, mooted to be a collection of angel investors from the fintech industry.

Here’s how Zedosh works.

You, should you be so inclined, grant Zedosh permission to access to your bank accounts, credit card accounts etc. Zedosh then collects data on your every financial transaction, input and output, and your account balances and analyses your spending and saving habits. User account access is provided via 'Open Banking' platform Moneyhub and permission must be renewed every 90 days.

On the other side of the fence, so to speak, are brand owners who wish to pitch their wares. Zedosh matches the brands with user profiles to pitch appropriate ads. Kendall was at pains to point out that at no stage do the brands get access user data.

Zedosh currently pays users between 15p and 25p to view an ad to completion. Ads can last from 15 seconds to two minutes and there is no limit to the number of ads you’ll be presented with. You only get paid on the first view, by the way. Brands pay £1 per completed view and they get anonymised reports on ad views, click through rates  and, crucially, detail on transactions conducted from the ad whether online or offline.

Zedosh plans to tune their payment algorithms so that “an ad for a McDonalds burger will pay out significantly less than an ad for a car, especially when the latter is served in the months coming up to a user’s car lease third anniversary, gleaned from the user’s banking transaction history.”

Zedosh targets ‘Gen Z’ users (notionally, born between 1997-2012) with the message that “there’s an opportunity to build a fairer world, where your data and your time is rewarded rather than stolen.”

You must make up your own minds about this one!

[Ed: This post replaces an earlier version published on Monday 13th September]

Posted by: Anthony Miller at 07:58

Tags: funding   startup  

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