Smart Queuing App Tuipoint Launches $700,000 Equity Crowdfunding Campaign
Yesterday morning at 9 am, Tuipoint publicly launched its $700,000 equity crowdfunding campaign. This New Zealand-based tech company is aiming to raise between NZ$100,000 to NZ$700,000 by offering shares to the New Zealand public via its campaign.
The Tuipoint time-saving smart queuing app, originally built for barbers, has been trialled in the United Kingdom and New Zealand markets over the last two years. The app allows customers to join a live virtual queue and pay for their services or products while continuing on with their day, without having to physically stand in a queue. Users receive a reminder notification of their pending queue placement and then a final notification when they are approaching the ‘front’ of the virtual queue.
Tuipoint Founder and CEO, Matt Brooks, is hopeful about the initial feedback received from participating businesses in both markets.
“Our App is preferred over the multitude of appointment booking systems because it’s real-time, keeps customers informed and saves them time.”
According to Vaughn Wellington, Tuipoint General Manager, the company’s ‘Let your phone queue for you’ catchphrase has generated a lot of interest from businesses where customers currently have to physically queue, such as cafes, sports stadiums, medical centres and beauty salons.
He notes that the app is more relevant than ever in a post-Covid-19 world, where social distancing requirements can make physical queuing challenging and unsafe. The app could also be useful when the Covid-19 vaccine is rolled out to large numbers at the same time.
“The Tuipoint app allows people to choose how they queue, making a significant difference for those hoping to minimise contact”.
Tuipoint is also ready to deploy geo-fencing technology. This technology notifies participating businesses when the customer who has pre-ordered through the app is approaching their physical location.
Given the app’s initial success, Mr Brooks is hopeful about Tuipoint’s future and its attraction for investors.
“Crowdfunding is important to us because we believe Kiwis should have the opportunity to share in our success.”
Tuipoint is offering up to 700,000 shares at NZ$1 per share, which represents 11.8% of the company. The minimum pledge is $500. It launched publicly on the 24th of November at 9 am NZDT.
You can find the campaign and information memorandum here: https://pledgeme.co.nz/investments/417-tuipoint-international-limited