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102%
Raised
£82,030
Investors
138
Target
£80,000
Equity
17.02%
Pre-money valuation
£400,000

LUX is a rewards app that will connect fine diners with hand-picked local restaurants. Customers can discover high quality restaurants and collect reward points for dining at them. Customers can spend their points on a range of luxury rewards or donate them to charity.

  • Introduces a premium rewards scheme to the fine dining market
  • Rewards high spending customers who are overlooked by discount cards
  • Flexible commission for restaurants to utilise spare capacity
  • Restaurants already started signing up
Information 27/06/16 - In order to conclude discussions with a number of named investors LUX Rewards have been granted an extension of 14 additional days, now expiring at midnight on the 14th July.

Idea

LUX aims to flip the restaurant discount model on its head, by creating a luxury offering that incentivises higher spending customers to dine at featured restaurants. Our aim is to make fine dining a more pleasant and rewarding experience.

Dine with the LUX app and you could redeem points to drive a Ferrari, relax at a spa day or drink champagne at the top of The Shard. LUX also enables diners to donate their points to local charities.

We have developed benefits for the three elements of our market:

1. Customers: Find restaurants on the free mobile app. Collect reward points when they spend at restaurants. Spend these points on luxury rewards from Red Letter Days or donate to charities

2. Restaurants: Targeting affluent consumers means that we have potential to drive higher spending customers through restaurant doors, and the points system incentivises them to keep coming back. Flexible commission for restaurants to utilise spare capacity

3. Companies: Completely free benefit for staff. In exchange for promoting LUX to their employees, LUX donates a percentage of earnings to a charity of the companies’ choice.

The first restaurants have started to sign up to LUX’s app, which is scalable, robust and responsive. Feedback from potential customers and restaurants has been positive, and we believe that this investment can lead to rapid growth.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

LUX REWARDS has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Seed Enterprise Investment Scheme (SEIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 50 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.