Borro provides a digital solution for managing reusable cup deposit refunds at events and venues. This system automates the refund process via QR code scanning, which prevents deposit fraud and eliminates transaction fees. The platform streamlines logistics and reduces staffing needs while offering visitors a quick, app-free return experience.
Funding
$430K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Reusable cup deposit-refund systems often suffer from fraud, high transaction costs, and increased personnel needs, diminishing the benefits of switching from disposable cups. Existing systems struggle to verify legitimate returns, leading to financial losses for event organizers and logistical complexities.
Solution
Borro provides a digital deposit-refund system for reusable cups, leveraging QR code scanning to automate and secure the refund process. When a visitor purchases a beverage, the cup's QR code is linked to their payment card. Upon returning the empty cup to a self-service collection point, the QR code is scanned, and the deposit is automatically refunded to the visitor's account. This system prevents fraud by ensuring refunds are processed exclusively for the original depositors, eliminates transaction fees, and reduces the need for additional staff to manage returns.
Target Audience
Borro's primary customers are event organizers, venue operators, and food and beverage businesses seeking to implement efficient and fraud-resistant reusable cup programs.
Features
- QR code scanning links cups to individual payment cards, preventing deposit fraud.
- Automated self-service return stations streamline the refund process.
- Digital system eliminates transaction fees associated with deposit refunds.
- Batch scanning allows visitors to return multiple cups in a single transaction.
- Integrates with existing systems without requiring visitors to download an app.
- Flexible refund options, including direct refunds to bank accounts or designated cards/bracelets.