UK consumers are estimated to waste around £1bn in unused voucher credits each year.
When Itay Eral realised a voucher he received as a wedding present had expired before he had a chance to use it, he decided to do something about it.
The result it Zeek, a mobile marketplace for unwanted gift vouchers and cards, where sellers are charged a fee of 7% of the card’s value and people can buy vouchers at a discounted rate.
Eral founded the business in 2013 along with Daniel Zelkind and Ziv Isaiah from a headquarters in Tel Aviv. Zeek raised $3m (£2.07m) in funding in 2015.
Zelkind told The Guardian last year: “The app solves a problem we have all experienced. We are allowing people to earn real money for something that would go unused or ultimately expire.”
The company claims 30% of vouchers worldwide go unused amounting to £65bn being wasted.