Overfunding: Mobile Technology Platform Thyngs Surpasses £300,000 on Crowdcube

Thyngs, a UK-based mobile technology platform, has successfully secured its initial £300,000 funding target through equity crowdfunding platform, Crowdcube. As previously reported, Thyngs was founded in 2016 and is described as a mobile technology that transforms physical objects and locations into smart, connected experiences that are more engaging, rewarding, and memorable. The company reported:

“We’ve built a simple, secure and affordable way for any business to take advantage of the growth in mobile payments, and have already created a sustainable business model in the £9.7 billion UK fundraising sector. Charities are using our platform to turn collecting boxes, shop windows and even staff into instant mobile donation points, more than covering ongoing costs with the extra income generated through Gift Aid. Global brands are also using it to engage and convert customers directly from marketing, merchandise, packaging, and products.”

Thyngs also stated that with more than 250,000 units sold to date, it predicts to account for $410 billion in sales by 2020. The company has already established relationships with companies like Apple, PayPal, Stripe and Worldpay. Its key focus is now on growing the business and becoming the de facto method of triggering mobile payments and marketing conversions from physical objects.

All funds from the Crowdcube campaign will be used to continue the company’s expansion. Prior to launching the Crowdcube round publicly, the company raised more than 20% of its investment target to early investors. The funding round is now set to close next Wednesday. 

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