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The Idea

Fintech company Paysme, has a vision to become the trusted supplier of digital financial services to underserved SME communities, by aggregating mobile payments, banking, insurance, pensions, e-commerce, accounting & marketing tools in sector-focused apps.

Already, Paysme has:

  • Generated revenue totalling £1.5m;
  • Processed over 1.4 million mobile payment transactions worth £41m to customers;
  • 11,000 registered taxis in 90 locations across the UK & Ireland (11% of taxi industry) on its cab:app platform;
  • 4,000 active taxi drivers using its payments platform;
  • Onboarded more than 200 markets to its Marketti platform (13% of markets industry in UK & Ireland);
  • Marketing partnerships with 2 major credit card corporates;
  • Discussions ongoing with 3 major sports clubs (2 football, 1 rugby) in England, Scotland & Ireland to launch its Fanslive stadium app.

In an increasingly cashless society, sole traders and SMEs are being left behind. The UK is one of the highest-ranking cashless economies but groups of traders that are the fabric of our local community (taxi drivers, market stall holders, event traders), are not getting the service and support to make this digital transition easy.

Paysme is championing sole traders & SMEs, helping them with faster, fairer financial services to enable a seamless transition to today’s cashless society.

But they are not stopping there. They are adding a suite of financial products that are tailored to help SMEs maximise their business, giving them support today and for the future.

With 5.7 million SMEs in the UK and Ireland turning over £1.8 trillion, the SME market is huge, fragmented & underserved in financial services products. One size does NOT fit all - making it hard for single product firms to penetrate sectors.

The Paysme platform is tailored to help SMEs easily transition to the digital economy through aggregation, innovation & specialisation by helping them to:

  • Save money when buying financial services
  • Make money when selling using omni-channel commerce
  • Grow faster by building a community of new customers

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The Market

The SME market in the UK and Ireland has 5.7 million companies turning over a combined £1.8 trillion per year. This market is huge, fragmented and many small businesses are underserved when it comes to technology and financial services, making it hard for single product firms to penetrate and build significant market share.

There are a number of favourable macro and industry trends that support the growth opportunity for Paysme’s business model, focused on SMEs, technology and financial services including: 

Paysme_Market

A study released in June 2019 by leading consultants McKinsey titled ‘Beyond banking: How banks can use ecosystems to win in the SME market’ revealed:

“Small-business owners want to spend more time running their business and minimise their administrative duties. They do not want a set of products, but rather an integrated service designed to meet their needs in an easily accessible channel - just like their online experience with world-class digital firms.”

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The Team

  • Derek Stewart Founder & CEO

  • Ellie Gill Director, Head of Markets & High Streets

  • Masha Cilliers Non-Executive Director, Payments

  • Eleena Broadfoot Non-Executive Director, Finance

Exit Strategy

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Project Documents

Click the button(s) below to view / download important additional project documentation for Paysme.

the Numbers

Target: £250,000 Raised so far: £92,752.00 Investors: 11
  • Days Left
  • Funded
Invest

top investors

Patrick : £25,058 Stephen : £20,009 Stuart : £10,285 Derek : £10,098

the Company

Registered number: 7435577 Incorporation date: 10 November 2010 Website: https://www.paysme.co.uk
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