Over half a million raised and a new Financial Director for eFOLDi

eFOLDi continues to exceed its funding expectations as reaches £522,880 through crowdfunding platform CrowdCube and welcomes a new Financial Director to the company.

eFOLDi is a new mobility vehicle developed by BHTA member SunTech UK, with aims of disrupting the current mobility scooter market.

After opening the investment opportunity up to the public on the crowdfunding website on the 5th February 2018, eFOLDi has raised an impressive £291,520 over the last 7 days and is currently ‘overfunding’, dramatically surpassing its original target of £350,000.

As of the 12th February 2018, eFOLDi has received funds from 289 investors for an equity stake of 7.29% of the company and also acquired the expertise of Ms Carolyn Tobin, offering to join the company as a pro bono Financial Director.

The Chartered Accountant and former McKinsey Management Consultant has more than 25 years’ experience working with businesses on increasing profitability, driving international growth and managing company finances.

Sumi Wang, Managing Director of eFOLDi, commented: "We want to be ambitious with our extra funding but we want to be prudent too; that’s what makes Carolyn’s generous offer of expertise so timely. We’re now even more confident of using our investors’ money wisely.”

Sumi told THIIS that the appointment will help SunTech UK extend distribution of the unique, foldable eFOLDi mobility scooter. With the additional funds the company has received from investors, she indicated that the company may look at expanding its marketing and sales reach to Florida, Nevada and Hawaii in the USA, as well as Asian and Middle Eastern markets.

Sumi also hinted that more products, designs and ideas could also be on the way, saying: "We have also generated design ideas for other products that meet the needs of less mobile people. As we are in the process of protecting their IP rights, I can't go into too much detail here. But they are tools and equipment to help people become more independent. These also make use of Artificial Intelligence and have health monitoring functions.”

To find out more about the story of eFOLDi, see THIIS’ in-depth interview with Sumi Wang HERE

To find out more about the investment opportunity, visit HERE

The website for the company is HERE

 
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