UK-based Together Price is a leading digital identity platform that helps manage group subscription plans. The platform, which tackles growing subscription fatigue around digital subscriptions is among a new wave of startups that has exceeded its crowdfunding target.
Founded originally in Italy in 2018 by Marco Taddei, Sabrina Taddei, and Luca Ugolini, Together Price intends to revolutionise shared multi-user subscriptions. Today, their centralised platform streamlines multiple service subscriptions for a global user base in Europe and the US and covers some of the most popular household subscriptions, including Amazon Prime Video and Nintendo Switch among others.
Exceeds crowdfunding target!
Recently, Together Price exceeded the crowdfunding goal of €200K (nearly £177K) in 48 hours after the launch of equity crowdfunding on Crowdcube. The company secured €300K (nearly £265K) in just six days after it was launched on crowdfunding. It attracted funding from over 1,300 backers, 70% of whom are not formal investors.
Since its debut in 2018, Together Price has raised a total of €2M (nearly £1.7M) from global investment funds including Samaipata Ventures, LVenture Group, and angels from Angel Partner Group.
With the investment, the digital identity platform that manages subscriptions has expanded operations by opening offices in London and Rome. It has established a strong user acquisition in key markets such as the UK, the US, Spain and Italy
Marco Taddei, CEO, and co-founder of Together Price said, “For this fundraise, we wanted to involve both our investor networks as well as our growing customer base. We have been overwhelmed by the influx of support that continues to pour through these last days. Raising an additional €100,000 reinforces the confidence that our users have in our offering and plans for the future”.
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Growth during pandemic
While COVID-19 brought in a lot of chaos in the global markets, it was an opportunity for startups positioned within media and streaming services. In March 2020, Together Price recorded a 90% increase in the new sign-ups compared to the previous month. This growth was further reinforced in November when the number of subscribers reached 1 million.
By focusing on the process of cost-sharing, Together Price has struck the balance between giving customers easy access to their preferred content while helping media providers to maintain subscriptions. This latest funding round will be used to accelerate growth by investing in technology and marketing.
Investing with equity crowdfunding
Equity crowdfunding is achieving rapid growth and is expected to see wider adoption amid a raise in fundraising limits. This allows individuals to buy shares in a company with a view to increasing the value of that company. Moreover, the rise in popularity of crowdfunding indicates the decrease in angel investors during the pandemic crisis.
Crowdcube is all set to launch its equity crowdfunding campaign, which has successfully financed 900 operations worth over €500M. Notably, its investors have secured €23M in returns. Some of the well-known projects that emerged out of equity crowdfunding are Revolut, Monzo, Woom, Wave, Bnext and Muroexe.