Electronic accessory brand and Amazon bestseller, iQualTech, announced on Monday it is set to close its equity crowdfunding campaign on Seedrs this upcoming Wednesday. As previously reported, iQualTech offers a wide range of products (including Pill Speakers) that have been sold worldwide through Amazon, reaching customers in the UK, Europe, U.S., and India. Its biggest achievement so far was outselling against its competitor, Beats by Dr., through Amazon.
“From top-quality speakers to bike lights and everything in between, we are passionate about making the tech we love more reliable, affordable, and easier to use. Our business was born out of a passion for quality and fresh ideas. Armed with each of our three directors’ fifteen years experience in digital commerce, we are very successful and profitable doing what we love: developing affordable, premium-quality tech products for everyone to enjoy.”
Founder of iQualTech, Zamir Cajee, also explained why he and his team decided to use Seedrs for the campaign:
“Their customer-oriented co-operative ethos made equity crowdfunding agency Seedrs the natural choice in terms of investment. It’s really important to us that our investors have the opportunity to become part of our team. We love the idea of having lots of investors who can help us to grow the brand further. Investors will enjoy exclusive discounts and promotions on iQualTech products that they can share with friends, and they will also gain access to an exciting new investor affiliate program, through which they can earn a commission for any new customers introduced to the brand.”
During its recent update, the iQualTech team stated:
“We have decided to close our campaign early in order to focus on the next steps of growing the business. We are improving economies of scale in order to enhance profitability and expand the range, and we plan to fast-track an array of innovative new products, bringing them to market sooner.”
Funds from the campaign will also go towards off-line marketing as well as a place for larger stock orders. So far, the initiative has secured nearly £160,000 from more than 175 investors.
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