Startup Spotlight #218: Sumtive
Sumtive is an AI driven discounts platform. We find the best discount recommendations - made just for you.
Ricardo is a recent economics graduate from University College London who is passionate about software. Martin is a mathematics graduate from the University of Edinburgh who is passionate about real-world statistical modeling. We founded Sumtive in early 2024 to reinvent discounts through large language models.
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Startup Spotlight: Sumtive
Problem: Everyone’s fundamentally different - so why should our prices be the same? Shops are losing revenue by not offering better discounts to price-sensitive shoppers.
Market: Shopify merchants handle $250bn in Gross Merchandise Value, yet the average conversion is only 1.5%. By making discounts smarter, we’re targeting unrealized sales lost to a lack of personalization.
Solution: We’re enabling people to get something back by sharing their banking data while shopping online. We process this data anonymously using LLMs, helping shops identify which profiles are likely to leave without buying - and offering these higher discounts.
Team: Having lived together for the past year, we are both Economics and Maths enthusiasts. Our conversations always end with the question: How can AI make commerce more efficient? Ricardo wrote a research thesis on price personalization. At the same time, Martin did his on transformer models and LLMs—it was only a matter of time before we combined our interests into a tangible product.
Founder Advice:
Saez: Work on a problem you’re passionate enough to obsess over the next ten years. Talk to customers as soon as possible; ideally, you’ve hacked a product prototype in under three months. Don’t be afraid to pivot - treat entrepreneurship as an exploration. Jump into startups early - if it’s right for you, you’ll regret every day of delay.
One Cool Founder You Should Know About:
Saez: Here is one cool founder you should check out next!
Pablo Jimenez de Parga Ramos, Co-Founder of throxy: throxy books high-quality meetings for sales teams using intelligent automation & expert outreach.
Previous Startup Spotlights:
Startup Spotlight #205: Swapt - Swapt enables businesses to capture data and deliver personalized consumer experiences in the physical world powered by intelligent QR codes and NFC technology.
Startup Spotlight #204: Yofi - Yofi is a platform that enables you to understand better your customers, their intentions, and the best way to interact with them.
Startup Spotlight #203: Simplify—Simplify helps you discover and autofill job and internship applications on millions of sites with one click.
Startup Spotlight #202: SkillBank - SkillBank is a 1:1 mentorship and training platform for entry-level marketing roles.
Startup Spotlight #201: Chloe - Accessing your home equity should be simple. With Chloe, you can be approved in minutes.
Startup Spotlight #200: Capable Health - Capable Health empowers healthcare innovators to provide affordable, personalized, quality care at scale.
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