Bagboard, a UK-based PaaS/Adtech platform, has successfully secured its initial £600,000 funding target through its equity crowdfunding campaign on Seedrs. Founded in 2016, Bagboard describes itself as a new, revolutionary advertising platform that’s looking to make shopping sustainably a whole lot easier and affordable. The company believes in two things:
- The power of consumer spending can create sustainable change on a global scale
- Technology can drive consumer behavior changes to achieve sustainability
Bagboard also noted that it incentivizes consumers to promote planet-friendly brands in exchange for a new digital currency to spend back on their products and services.
“Consumers spend money on products which they find out about through advertising. And brands spend money on advertising to access that consumer spend. Our commercial value is determined by consumers promoting and spending via our platform. So our first goal is to continue growing our network. From this, we can start growing our brand network based on their sustainability credentials. Brands can then plan campaigns. We will charge them via an auction-based model similar to Facebook and Google.”
Funds from the Seedrs round will be used to continue the growth and development of the Bagboard platform. The crowdfunding campaign is set to close at the end of August.
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