SaaS fintech Spendology opens crowdfunding round on Seedrs

The UK-based software company operates through franchise partners who promote the Spendology Cloud platform to travel companies, banks and corporates in their territory as a white label solution. Customers can order online or instore, for home delivery or collection, depending on the business model. Franchises are typically wholesale banknote distributors, or operate a retail distribution facility for wholesale banknotes.

Spendology's first International franchise partnership - with the $23bn travel conglomerate, Internova Travel Group - launched its first US white label this month for Altour Foreign Currency. Internova have already secured commitment from a national retailer to offer click & collect foreign currency - alongside a raft of other travel products requiring instore pick-up - in more than 1,000+ stores following a succesful pilot.

Spendology has already reached its initial £300k Seedrs target, and is now over-funding to support a simultaneous pilot in two countries for a global wholesale banknotes distributor, which if successful could see a dozen Spendology franchises launched within the next 2 years. This could quickly push Spendology's income trajectory into the millions with very little additional overhead.

The Seedrs funding round is still open and welcoming new investors.