Thyngs, a UK-based mobile technology platform, is set to close its equity crowdfunding campaign on Crowdcube with more than £350,000 from over 350 investors. The funding round was launched in January, originally seeking £300,000.
Founded in 2016, Thyngs stated it is looking to transform physical objects and locations into smart, connected, experiences that are engaging, rewarding, and memorable. The company has built a secure and affordable for businesses to take advantage of the mobile payments growth and created a sustainable business model in the UK fundraising sector. Thyngs reported:
“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 then shared that it has sold more than 250,000 units to date and predicts to account for $410 billion in sales by 2020. The company has also 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 will go towards the company’s expansion. Prior to launching the Crowdcube round publicly, Thyngs raised over 20% of its investment target to early investors. The funding round will close on Wednesday.
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