Platform for touch-free instant payments from any physical marketing asset. Core focus on Charity sector.
- 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
Thyngs' platform enables marketers to transform any of their physical marketing assets into an instant point-of-sale.
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.
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.
Customers are able to 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.
Substantial accomplishments to date
Neil (our Founder) is a global pioneer in NFC wallet technology & conceived the idea of a ‘3 tap’ payment that works exactly like contactless Apple Pay without a point-of-sale terminal.
The first adopters of our tech were charities like Royal British Legion. It is now being used by nearly 700 charities.
Thyngs' platform has also been used in hospitality by Wasabi across all UK stores, Warner Bros for a major Movie Launch and in the magazine publishing sector by Conde Nast amongst others.
Since March 2021, our main business focus is on the Charity sector, supported by the launch of the Good Thyngs sub-brand. Our vision is to become the leading cashless fundraising platform for charities that want to innovate and better connect with their supporters. Alongside this, we have a growing portfolio of partners using the existing Thyngs platform in other sectors.
Thyngs entered a 2 year contract for Macmillan's Worlds Biggest Coffee Morning in Feb 2021, which raised £27m in 2019 and is also used for other Macmillan campaigns.
Our typical ROI is over 500%, and now have over 33% of consumers using payment methods like Apple Pay to donate, replacing traditional card payments and cash.
Thyngs has now raised over £4 million for good causes, engaged with over 1 million unique consumers and processed over 750,000 transactions.
DIT selected Thyngs for the UK-Australia Fintech Bridge, before enabling ANZ bank to create the smart donation Daffodil and was voted by Retail Week as a top 50 global startup.
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).
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.
Thyngs works with a number of leading 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 provide core infrastructure for physical-to-digital engagement via smartphones engaging over 1 million unique consumers.
Use of proceeds
This investment round is intended to raise finance to accelerate growth in the Charity Sector. You will help take advantage of the market opportunity presented by Virgin Money Giving closing down in November, with their highly experienced team also based in Norwich.
Money raised will be used to:
· increase marketing for the new GoodThyngs dedicated service to reach charities and become market leader
· bolster sales team to more rapidly close deals
· expand account management team to increase customer success
· further support customer activities to be the most comprehensive solution for donor engagement and cashless fundraising.
The tech team are going to be working on new self-serve features to more easily configure new on-line and off-line white label fund-raising campaigns, including:
· personalised fundraiser pages and individual totalisers
· email tools for donor engagement
· expand platform analytics to support global audience
· additional languages & full internationalization
Please note the business has the following outstanding debt:
A Government Bounceback loan from Barclays Banks totalling £47,000. The loan accrues 2.5% interest per annum, and is repaid with monthly payments of £833.33. The loan was entered into on the 18th June 2021 and is expected to end on 18th June 2025.
A £250k loan from the Greater London Investment Fund accruing interest of 14.5% per annum. Interest only will be paid until Jan 2022 after which capital and interest is paid. The loan was entered into in March 2020 and is expected to end in March 2025.
Funds raised as part of this round will not be used to repay these debts.
The company currently has 2 classes of shares, A ordinary and B investment. All investors in this round, including Seedrs investors, will be receiving A ordinary shares
• A ordinary shares:
o Full voting rights
o Equal rights to dividends
o Entitled to participate in a distribution arising from a winding up of the company
• B investment shares
o No voting rights
o Holders shall not have the right to receive notices of any general meetings or the right to attend at such general meetings
The company raised £50k of investment on the same terms as this round in January 2021.
The funds have not been reflected in the amount raised and the shares have been included in the pre-money valuation.
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