App platform Padoq launches £850k crowdfunding campaign

Manchester-based enterprise app platform Padoq has launched a crowdfunding campaign to raise £850,000, a target it has already almost hit thanks to strong interest in the campaign’s pre-launch phase.

Padoq’s platform allows brands to launch highly functional, customised, native mobile apps in a fraction of the normal time, and at a fraction of the usual cost.

While mobile users spend increasing amounts of time in apps, businesses often struggle to make the most of this communication channel with existing and potential customers.

Expensive custom-built apps can age rapidly, requiring costly rebuilds to implement new functionality.

Padoq says spending less money can often leave customers with a sub-optimal experience, based on poor-quality, cookie-cutter template-based apps.

The firm says it already provides high-quality apps for clients including major sports teams and property companies, allowing them to easily incorporate engaging features such as messaging and payments.

For example, in the property sector, a Padoq-powered app can allow tenants to engage with their landlord, report issues, book rooms and arrange mail collection.

Because the highly-customisable software is continually updated, apps on Padoq evolve with changing business needs and user tastes.

In addition to the commercial product for businesses, a version of the platform is available to grassroots groups for free, through the Padoq for Communities product.

Funds raised through the campaign on the Seedrs crowdfunding platform will be used to expand Padoq’s functionality, supporting and extending the existing software and digital development team, and building out sales channels, including onboarding major corporate clients and account managers.

The funding will also allow Padoq to explore additional opportunities in the international market.

Ahead of today’s launch there has already been a strong level of interest in the crowdfunding campaign, and the company has raised more than £750,000 of the target already.

Chief executive Mike Anderson said: “It’s taken our growing team a huge amount of effort to ready ourselves for mass commercial launch. Our early users appear to love it and this is an incredibly exciting time for us.”