James Watt hires Steven Bartlett for new start-up

Peter A Walker

25 June 2024 at 6:42 am·2-min read

Steven Bartlett at Soccer Aid earlier this month — -Credit: (Image: John Walton/PA Wire)

James Watt has announced that Steven Bartlett will be joining Social Tip as an investor and advisor.

In a LinkedIn post, the former BrewDog chief executive welcomed the SocialChain and Flight Group founder, but gave no further details.

This follows a social post last week, where Watt challenged the line-up of BBC’s Dragons' Den to invest in his new venture, noting that they were being given a second chance, following BrewDog's founders failing to get before the panel in 2009 - where they were planning to offer a 20% stake for £100,000.

The current Dragons are Bartlett, Deborah Meaden, Touker Suleyman, Sara Davies and Duncan Jones.

In his latest message, Watt also gave more details on a pre-seed crowdfunding campaign being launched via Crowdcube later this week.

The fledgling company's strategy document explained that by next year, the plan is to have established itself in the UK and US, with around 100,000 customers and 1,250 business-to-business partners. By 2026, the start-up wants to also be in Europe, targeting 500,000 customers and 5,000 B2B partners, with a possible Series A fundraise backing growth. A Series B round and 'global reach' is proposed before 2028.

Early investors include UK tech fund Haatch (£310,000), alongside the British Investment Bank, MiniClip chief executive Rob Small and early BrewDog investor Keith Greggor. Almost £1.5m has been raised at a £13m pre-money valuation.

Social Tip is an app which rewards people for posting about brands.

Its proprietary algorithm claims to calculate the value of posts based on views, likes and engagement, rewarding users by depositing cash to their Social Tip accounts.

Launch brand partners include BrewDog, Bella & Duke, Homeslice, Huel, PureGym, Slug & Lettuce and Virgin Pure.

The founding Social Tip team includes Thomas Matecki, former chief technology officer of fintech Zilch, and Georgia Lee, former managing director of food delivery service Supper.

The app and platform is slated for full launch later this summer.

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