:Qounter, a patent-pending social cashback integrated platform has launched its equity crowdfunding campaign on crowdfunder.com. With the amount generated, the company aims to launch its disruptive social cashback platform in the US market at the beginning of 2015.
October 23, 2014: :Qounter, a social cashback integrated platform, has launched a Series A round using equity crowdfunding on crowdfunder.com to enter the US market. :Qounter is set to disrupt the cashback space by enabling businesses to attract not only individuals but also their social network by offering social cashback on both online and in-store purchases. :Qounter successfully launched a proof-of-concept trial in Peru, where it gained more than one hundred thousand users in a span of four months, grabbing the number one startup spot in both traffic and social engagement. The goal of the crowdfunding campaign is to raise $1.8 million to dominate the social cashback space in the US, leveraging :Qounter’s social platform to drive new customers to participating businesses. :Qounter users sign up for free, and earn cashback each time they, or one of their friends, make a purchase at a :Qounter-affiliated business, both online and in-store, all in real time.
When contacted, a representative of the company said, “Our team has spent three years developing the platform, conducting market research and fine tuning the distribution algorithm and business model. The platform includes web, mobile and SMS channels that makes it easy for the users to check their balance and the effect of friends’ purchases on it. :Qounter successfully balances social influence and privacy to develop an engaging platform that is safe, easy and fun to use.” He further added, “:Qounter is unique due to its differentiating characteristics. The social cashback is earned passively and there is no clicking on links and spamming friends to earn cashback. This all happens in real time, online and in-store, so you can actually spend your cashback right after purchasing. :Qounter’s revenue is not ad-based so there are no ads within the social platform.”
According to the sources the company is initially planning to target the millennial consumers who represent around 24 percent of the total US population, and hold a purchasing power of up to $600 Billion annually. The amount is likely to grow up to $1.4 Trillion by the year 2020. Sources also confirmed that the focus of the company is to penetrate 14 percent of the target market in the next three years, and the platform would mainly leverage its viralization effect as a social network and focus on national as well as grassroots marketing strategies in key local US markets to target millennial consumers.
The company confirmed that it has chosen the platform crowdfunder.com to raise funds due to the fact that the site allows private businesses to publicly raise capital from accredited investors through equity crowdfunding, which is totally different from rewards crowdfunding. The goal of the campaign is to raise $ 1.8 million before the closing date on November 30, 2014. The minimum investment is $10,000. More information regarding the equity raise is available at crowdfunder.com/qounter.
Speaking to the media, Raul Triveno, Founder and CEO said, “I see and believe in a new world, a world that leverages the current technology and relationship among millions of users globally to make something different and unique. A new pattern of consumption, a new formula to share money with our friends based on what we already do: shop, travel and have fun. A new economy based on a different marketing model where companies share part of their earnings with a new consumer, who will not only be just one consumer anymore, since he will also naturally influence his friends for a common benefit. I envision a new connected world where businesses move the :Qounters of millions of users in different parts of the world; a whole new economy that expands among countries in real time based on consumption. I know that my vision is meant to be shared with investors who believe in making things differently as my team and I are eager to make a change in the world.”