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We transform physical products, packaging and advertising into instant digital payment points via consumer smartphones without need for an App.
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By harnessing the technology in today’s smartphones, consumers can purchase anything without going to a till or downloading an app, retailers can sell anything without needing a payment terminal, & brands can drive mobile engagement and sales.
Thyngs operates at the convergence of both physical retail and e-commerce markets, combining contactless payment and smartphone wallet technologies. Retail e-commerce worldwide hit a $2.304 trillion in 2017, with mobile commerce representing 58.9% of e-commerce. According to a report by Zion Market Research, the global Point-of-Sale software market accounted for USD 12.9 billion in 2017, and is expected to reach USD 30.9 billion by 2024, at a CAGR of 13.3% between 2018 and 2024.
Charities are using the platform to turn collecting boxes, shop windows and even staff into instant mobile donation points, more than covering ongoing costs with the extra income generated through Gift Aid. Global brands are also using it to engage and convert customers directly from marketing, merchandise, packaging, and products.
Thyngs have already established relationships with companies like Apple, PayPal, Wasabi, Wagamma, Warner Bros and Worldpay, and the companies focus is now on growing the business & becoming the de facto method of triggering mobile payments and marketing conversions from physical objects, without needing an App.
Thyngs is projecting to turnover c. £1.3m by financial year end. The company is seeking £1.0m to invest in sales & marketing, to gain more high-profile flagship reference customers and build existing and new re-seller partnerships to scale.
Investment will also be used to deepen supply chain relationships to improve quality and reduce costs for standard Thyngs-enabled hardware, plus improve the existing on-line server platform for customers and partners to enable more scalable operations.
Investment Focus: Equity and Debt
About: Envestors is a FCA regulated corporate finance adviser in the UK and operates an international network of sophisticated investors investing an average of £42,000 in high growth unquoted companies seeking £250,000 to £2m in equity funding.
Contact Name: Oliver Woolley
Registered InvestorsOver 1000
Investment through platformOver £100m