Thyngs, a platform for supporting touch-free instant payments from any physical marketing asset with a key focus on the Charity sector, has secured 85% (£214,864) of its £250,000 target (with 27 days left in the sale), as part of is crowdfunding campaign via Seedrs.
Based in Norwich, United Kingdom, Thyngs is focused on the Finance & Payments Mixed Digital/Non-Digital B2B sectors. The Fintech firm was incorporated in March 2016 and reports a £8M pre-money valuation, a £0.47 share price, tax relief/EIS, and 3.01% equity offered.
Here are some key business highlights shared by the Fintech firm:
- Touch-free cashless payment & donor engagement for charities
- Opportunity as Virgin Money Giving closes with HQ in Norwich too
- Nearly 700 charities use Thyngs to engage donors & raise funds
- £4 million raised for Good Causes via 220,000 donations
As noted in the update, Thyngs’ platform “enables marketers to transform any of their physical marketing assets into an instant point-of-sale.”
The company also shared:
“Consumers can simply tap their smartphone on enabled products, packaging, signage or any branded thing to make simple, secure transactions in seconds… all free of the need for an app or payment terminal.”
As mentioned in the announcement:
“Thyngs’ self-service platform is used by charities, retailers, agencies and re-seller partners to create new services in minutes. Thyngs’ approach is especially relevant in a post coronavirus world as we power touch-free and social distanced interactions with consumers.”
As mentioned in the update, clients can “measure all of the physical world interactions with their audience in real-time, showing unique insights.” Thyngs shows conversion rates and customer acquisition costs “over 10x better than much digital marketing activity.”
Macmillan, Church of England, Children’s Society, RNLI, RSPCA & ANZ Bank “already work with Thyngs,” the update revealed.
While sharing its monetization strategy, the company noted:
“Thyngs aggregates various payment partners including PayPal, Worldpay, Apple Pay and Google Pay. A sales commission fee is charged per transaction (2.5% for charity donations).”
They also shared:
“Customers use the platform to quickly create templated or bespoke digital experiences that leverage interactions with their physical and online marketing assets. The platform captures data in real-time for customers to gain immediate insight to improve campaigns, understand users, and streamline operations. We charge this on a monthly SaaS basis.”
As stated in the update, Thyngs works with major sector re-seller partners (Angal, The Sourcing Team, Global Coin Solutions, Parish Buying, PFS) where the partner “marks-up volume pricing and bundles with their existing products & services.”
Outside of the Charity Sector, Thyngs’ white label platform is used by partners (HH Global, High Street Safari) to offer core infrastructure “for physical-to-digital engagement via smartphones engaging over 1 million unique consumers,” the update revealed.
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