This weekend, Crowdcube announced that its #FundedClub member and creator of a self-service multi-currency note/coin exchange machine, FourEx, is set to open a new kiosk in London’s Bridge Station this month.
Back in March 2015, FourEx secured £670,760 from 424 investors during its Crowdcube run. The company’s machines use image recognition technology to automatically identify and exchange currencies from over 150 countries. Before its crowdfunding campaign, ForeEx signed contracts with TFL and Westfield to deploy machines into several London Underground stations and high profile shopping centres.
Crowdcube shared on Twitter:
— Crowdcube (@Crowdcube) April 10, 2016
The company is using the Crowdcube funds for the manufacture of the first 10 kiosks. Additional asset finance has already been secured for the complete manufacturing costs, and will also be used towards stocking the machine with payout currency.
In addition ForeEx will need to install power and data points for each new machine.
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