Commuter Club, a UK-based provider of season tickets as a subscription service, is set to close its equity crowdfunding campaign on Seedrs with more than £2.2 million secured. As previously reported, Commuter Club helps commuters save time and money, offering an online retail solution for the sale of season tickets and payments through a subscription service.
“Commuter Club is a unique tech platform that brings together data, retailing and credit to save commuters time, money and hassle. We help commuters find and purchase the right ticket for their commute through a simple online journey and access the big savings of annual tickets through a low-cost, convenient monthly payment plan. Like Netflix for commuting.”
Funds from the Seedrs round will be used for the following:
- Core platform (20%): onboard a new, lower-cost lender and deliver a self-service portal to improve operating costs and customer experience.
- Upgrade skills in product, marketing, and engineering (20%): Evolve its ticket finder tool and launch a smartcard to improve UX, reduce risk, and facilitate new revenue opportunities.
- Grow and acquire customers (60%): Fuel marketing growth and brand building to scale its loan book and build a self-sustaining back-book of customers.
The campaign has so far attracted more than 700 investors. Commuter Club is offering 10.92% in equity at a £15,089,864 pre-money valuation. The funding round is set to close next Wednesday.
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