Sutton Coldfield based app developer Zapaygo has broken its £250,000 fundraising target.
Zapaygo has so far raised £267,120 through 208 investors on Crowdcube with 21 days of the campaign still to run.
Zapaygo app allows consumers to pre-order & pre-pay at F&B venues, improving customer experience whilst increasing venue revenues
The company has also hired AIM listing specialist Holland-Bendelow to explore listing on exchange while it has an exclusive mobile ordering contract with arena specialist Verteda EPOS.
A statement on its Crowdcube page said: “Zapaygo has a fully launched app, has identified core venues and corporate partners in the UK as initial target markets (where saving significant queuing time is most valuable) and is ready to scale.
“Alongside, the global loyalty market is already worth $6.8bn a year, with 10 per cent annual growth continuing.
“Zapaygo app offers the additional benefit RewardZ. We believe this blockchain, digital rewards token dynamic will be a key driver for Zapaygo with both the chains and individual merchants redeeming RewardZ Tokens.
“Zapaygo’s fundraise is to take the product to market, and with the likes of Deliveroo and UberEats success, we are focused on covering customer/corporate convenience in collecting F&B.
“Zapaygo Delivered is in the early stages and aims to offer ‘order to delivery’ end to end services.
“We will develop the opportunity to list on AIM, advised by Holland & Bendelow listing specialist, potentially offering early liquidity opportunities for investors.”
The company is led by chairman Steve Brice, co-chief executive Saleem Lohdi and founders Elliot Hall, Mark Boote and Richard Dilworth.
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