Fundible, an innovative purchasing system allowing a group of customers to buy big purchases in the traveling and leisure industry, just raised £110,000 in equity investment from the Wales Technology Seed Fund.
Fundible’s CEO Tony Evans said: “Having developed and launched a range of applications, Finance Wales’ investment is perfectly timed for Fundible. We now need to ramp up our marketing activities and capture a significant share of our key markets, which include travel, weddings and honeymoons and the general gifts market.”
As a merchant, you will simply need to add the Fundible widget to your website as the purchasing application works with your site and is incorporated into your payment system. Customers can group-fund their honeymoon or other leisure gifts they could either not afford or simply not buy on their own.
The Cardiff-based startup will tap into U.K.’s £5 billion-a-year gift-card market and offer retailers and merchants new opportunities to attract customers and increase sales volumes, especially the expensive ones, Wales Online reports.
James Henderson, Wales Technology Seed Fund manager at Finance Wales, said: “Fundible provides groups of purchasers with a simple shopping experience giving online retailers the opportunity to boost sales, up sell, win new customers and encourage existing customers to make repeat purchases. It can also improve their all-important profile on social media.”
“Fundible’s experienced management team and high-caliber board have developed a platform which is set to have a big impact on the rapidly expanding area of ‘micro-crowdfunding.’ This is just the start for Fundible, and we wish them well as they develop new functionality and expand into new markets.”
There are many examples already out there to try to simplify the concept of e-gifts while maximizing their use. Recently for instance, Loop Commerce raised funds to launch its new gift-giving system. Loop lets a customer shop for a gift on its partners’ websites then sends an email to the gift recipient, who then comes back to the eCommerce site, completes the purchase (with the desired size/color or other esthetic detail, the time or shipping address) or exchanges the selected gift for something else.
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To check out what else is HOT in the world of payments, click here.
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