Easygoband, a Spanish incorporated company that has created an RFID smartband that allows personal identification and cashless payments, has launched an equity crowdfunding campaign on Crowdcube and is seeking a minimum funding target of £300,000.
Easygoband describes itself as a company that gathers the advantages of RFID and cashless technology in a wristband and brings it to businesses in the tourism industry in order to maximize and increase their revenues and offer their audiences a unique experience.
“In addition to Spain, our two main products – which are B2B – are also currently being used by a luxury resort group in Mexico and for different events in Argentina and Uruguay. We are now about to launch our new B2C product by the end of February 2018, aimed at final users.”
The company reported that it has sold more than 300,000 wristbands to date and has signed sales agreements of over €400,000 during the first quarter of 2018. Its main revenue streams are composed of:
- set up fees per client
- daily fixed fee per user
- a fixed fee for every new wristband issued
“Our outlook for new recurring B2B clients is positive, with 14 contracts currently under negotiation to be implemented during 2018. These agreements would represent a minimum of €500,000 in additional revenue on top of the €400,000 from already signed contracts.”
Easygoband noted it has secured £176,300 prior to launching its campaign on Crowdcube from a number of existing investors on the same price as offered to the crowd. Funds from the funding round will be used to continue the growth of Easygoband. It is set to close at the beginning of April.
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