XY Findables announced on Thursday that it has received $2 Million in indications of interest to invest for its recently launched Regulation A+ equity crowdfunding initiative on StartEngine.
As previously reported, XY Findables ran a successful rewards-based crowdfunding campaign on Kickstarter back in 2014 for its product, XY Find It. Following the rewards campaign, which successfully secured $200,000, the company quickly moved to leverage their online profile by smartly establishing a retail presence across well known branded stores. The retail presence should help the company scale as they expand their product range. In 2015 alone, XY Findables generated $1.5 million in sales.
Arie Trouw, CEO, founder, and head of product development of XY Findables, commented:
“We’re thrilled that the crowd has been responding to our equity campaign. With our company’s current traction and the positive trajectory of the campaign, having the chance to share our company with our customers as owner-users is extremely gratifying.”
XY Findables is using the Regulation A+ exemption to raise equity capital online, which allows anyone, not just accredited investors, to purchase ownership in an early stage company. The company stated its current equity crowdfunding campaign gives previous backers the opportunity to own a piece of the brand that they helped create, and new customers a chance to own part of a company whose product they use.
The company is currently preparing XY Find It for backers, which is scheduled to come out this coming June. The current version of XY Find It allows a user to swap batteries – something not presently available on with other tracking devices like TILE.
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