Zapaygo goes down ICO route

Zapaygo, a UK-based ordering and payment app, has launched an IPO. This follows on from its announcement that it had surpassed an initial equity crowdfunding campaign’s £500,000 funding target on Crowdcube. 

All funds from the Crowdcube round will be used to continue Zapaygo’s growth and development. It is set to close at the end of this month. The IPO website, meanwhile, notes that the venture “will start off as a simple lifestyle payment application with future plans to turn Zapaygo into a mobile banking platform and cryptocurrencies payments platform. Zapaygo will have its own cryptocurrency that users will be able to buy via our ICO. Users will be able to trade, and at a date in the future, be able spend via the app. What makes this different is that it is one of a few ICOs that has an experienced business behind it and the app gives people a real reason to use it. Zapaygo also has a blockchain trading and payments platform that will launch approximately in April.”

Last month, the startup inked a 10-year exclusive mobile payments partnership with The NEC Group, enabling visitors to its venues to pre-order, re-order and pay for food and beverages using their mobile phones. Zapaygo’s app will be launched at the NEC, ICC, Vox, Genting Arena and Arena Birmingham in 2018.