The mistakes an angel and accelerator-backed startup made and what we learned along the way.
Tab (previously Subscrib) was a web-based prepaid loyalty app that started in the basement of Campus London in late September 2012 byShawn Zvinis, Christoph Sassenberg and Gary Luce.
The idea was simple: customers would open prepaid accounts at local shops and earn bonus credit by doing so. We would eliminate payment fragmentation and use the transactional data to automate retention and marketing for these shops. Best of all, customers did not need a smartphone, as we used their mobile number to create their account.
We raised seed money from a local angel investor early on, joined an accelerator and started to grow the team. We encountered a lot of issues that on their own we could have tackled, but together set us on a path to failure that we struggled with.
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