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Ben Parkinson
Ben Parkinson
  • 1 Minute Read
  • 22nd February 2013

Revolutionary office ‘oyster card’ secures £135,000 investment

NearDesk, an innovative new near field communication system for offices, has raised £134,500 in funding for further development from crowdfunding site Seedrs, representatives announced this week.

The product is the brainchild of entrepreneur Tom Ball, and allows users to effectively ‘swipe’ into any flexible office or hot-desk to ensure that they never pay for more time than they have used.

Ball’s newest start-up initially sought £84,500 for the preliminary stages of the commercial launch, however, following unprecedented interest from flexible office providers and eager hot-deskers alike, the company agreed to take a further £50,000 raised through a second round of investment.

The founder, who began his first venture with web design firm CD9 in 1997, said: “We are very glad to have such a wide group of investor supporters who share our vision and mission, many of whom are already actively helping us grow.”

The design is based on one familiar to many commuters from South-East England – London’s famous Oyster Card reader system, which is in use throughout the capital’s road, rail and bike hire network. It allows workers to work on a pay-as-you-go basis from a variety of sites across cities, or potentially even countries.

Investors – now totalling 139 following the latest run of crowdfunding – were encouraged by the flexibility the model offered, as well as the potential to circumnavigate costly deposits and membership fees for singular properties.

The windfall will allow NearDesk to grow their business and begin marketing the product to a wider audience, whilst plans are already in the pipeline for the product to be integrated into mobile and smart phones, using a similar near field technology to that of contactless payment.