Boomerang is a mobile application that utilizes QR code technology to provide users with cash back on their purchases from over 500 partnered retailers and brands across Iran. By enabling users to scan their receipts, the app addresses the need for immediate financial rewards from everyday shopping, having returned over IRR200 million in cash rewards monthly.
Funding
Funding not disclosed
Founders
Product
Problem
Many shoppers in Iran lack an easy way to receive immediate financial rewards or cash back on their everyday purchases from various retailers and brands. Traditional loyalty programs often require significant accumulation of points or complex redemption processes, creating a barrier to entry for many consumers.
Solution
Boomerang is a mobile application that provides users with cash back on purchases from partnered retailers and brands across Iran by scanning their receipts. After a user makes a purchase at a participating store, they scan the receipt within the Boomerang app. The app then instantly credits a portion of the purchase amount back to the user's account. Users can then redeem their accumulated cash back rewards in a variety of ways.
Target Audience
Boomerang primarily targets consumers in Iran who are looking for an easy way to earn cash back on their everyday purchases from a wide variety of retailers and brands.
Features
- Receipt scanning via mobile app to verify purchases
- Automatic cash back calculation based on partnered retailer and brand offers
- Real-time crediting of cash back rewards to user accounts
- Extensive network of partnered retailers, including major chains and local stores
- Wide range of participating brands across various product categories
- Location-based store discovery to find nearby participating retailers
- Web application access in addition to the mobile app