KogoPAY, a UK-based fintech startup, completed its equity crowdfunding round on Crowdcube with more than £200,000 in funding secured. The company offered its 281 Crowdcube investors with 2.01% in equity at a £10 million pre-money valuation.
Founded in 2018, KogoPAY describes itself as a fintech company that provides a mobile payment app that enables instant and affordable transactions between Europe and Asia, as well as local transfers using wallet to wallet and QR code payments.
“With KogoPAY, users do not have to pay high banking fees or suffer the inconvenience of having banks hold their funds for days for international payments. With its strong connections in Europe and Asia, KogoPAY provides a service that is designed to stand out from competitors. KogoPAY has a offices in both London and Bangkok and has strategic business partnerships with fully compliant businesses for faster payment services.”
Speaking about the investment round’s success, KogoPAY’s CEO Dr. Narisa Chauvidul-Aw, stated:
“We are happy to announce that KogoPAY’s first crowdfundingcampaign on crowdcube.com has proven a success, reaching 100% of our target as planned. Crowdcube crowdfunding worked well for us as we were able to join the discussion on the campaign’s page, providing information and answering questions from the investors, and at the same time share our future plans for our services. Crowdfunding is part of our £2m fundraising. Recently we have been contacted by a few potential investors and partners through the process. That’s a fantastic news !”
KogoPAY noted that the Crowdcube funding round will help to execute rollout across Europe and Asia in 2020 (KogoPay app is in the final stages of testing API) and investing in improved efficiency and customer service using AI.
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