Paace is a mobile app that rewards individuals for staying fit. It tracks fitness activities like walking, running and cycling and then provides users with an in-app currency that can be used for purchases with a wide range of leading brands.
After earning a grant from Innovate UK, the platform was able to sign up hundreds of thousands of users and attract over 30 brands. It generates revenue via partnerships with the brands on its marketplace, focusing on real-world rewards at coffeeshops, gyms and restaurants rather than discount codes with online retailers.
Paace operates in a busy space, with some competitors already boasting millions of users. But, by building an extensive in-app marketplace and focusing on real-world rewards, Paace has differentiated itself enough to stand out. This, combined with its mission-led focus, should give it the edge it needs to succeed.
Steph
Company Specialist at Welcome to the Jungle