Foodcoin, the startup that has developed the first token created by and for hoteliers, has just launched its mobile application thanks to the €300,000 equity crowdfunding round, which closed in just two hours through the Fellow Funders participatory financing platform. Now seeks to raise about €400,000 through a new round, to start the national expansion, prepare the international one and improve the application. The goal of doing it again with Fellow Funders is to continue to expand its extensive network of ambassadors through small shares available to everyone from €800.
Foodcoin offers a blockchain-based solution that seeks to create a loyalty system without implementation costs or the need for integration for the establishment. Its use is very simple: every time a customer consumes in an associated establishment, they receive in exchange a percentage of what they spend in foodcoins to pay later in any affiliated establishment. Foodcoin will only charge a percentage to the hotelier when foodcoins or localcoins are consumed at your venue. Therefore, the company wins when everyone wins.
Foodcoin has managed to open new agreements with multitude of restaurants and chains such as Taberna del Volapié, Santagloria, Papizza, or Más Q menos, which they hope will soon be joined by Sushimore, Burro Canaglia, Areas, Redbar, Avanza Foods (Gambrinus, Irish Pubs, Tommy Mel’s, Tony Roma’s, Carl ´s Jr…), Grupo LALALA, Alamar Foods in the Middle East (Dunkin and Domino´s), or in South America with KFC and Wendy´s.
The Foodcoin app launch event was held at The Mamona of Castellana, and was attended by many professionals from the sector, including the most important associations in Spain (Hostelería de España, Hotelería Madrid and Restauration Brands); powerful chains such as Foodbox (Taberna del Volapié, Santagloria…), Larrumba, LALALA, Arzábal, Urban Poke, REDBAR, Sushimore; and other personalities who wanted to accompany the Foodcoin professionals, such as Ángel Niño, Councilor for Innovation and Entrepreneurship of the Community of Madrid and president of Mercamadrid; Alberto Toribio, from Cryptoplaza, Luismi and Julia, from MasterChef; Ion Aramendi of Survivors; and numerous other public profiles and influencers.
For Richard Marin, CEO of Foodcoin, “We start from the digitization of the cardboard of the ten uses of a lifetime. As a result of that, we are creating a 21st century solution to help hoteliers increase their sales in a simple way. For €800 through the Fellow Funders platform, you can be part of the future of hospitality.”
