Easygoband, a Spanish incorporated company that has created an RFID smartband that allows personal identification and cashless payments, announced on Tuesday it has extended its equity crowdfunding campaign on Crowdcube. The company launched the funding round last month and quickly secured its initial £300,000 target (£176,300 prior to launching its equity crowdfunding campaign).
As previously reported, 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.”
Easygoband also reported it has sold more than 300,000 wristbands so far 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
While sharing details about the Crowdcube extension, the Easygoband team stated:
“In the last few days we have received a lot of emails and messages from new investors who wish to jump on board. We are in current conversations with them, so we have decided to extend the campaign for 2 weeks from the date planned. We are extremely grateful with all of you and don’t wish anyone to miss the opportunity to join our project.”
Funds from the campaign will be used to continue Easygoband’s expansion. The campaign is now set to close mid-April.
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