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 a Fintech company that’s solving this problem for SMEs, validated by thousands of sign-ups and recurring revenues.
As a result, Paysme is fast becoming the trusted supplier of digital financial services to underserved SME communities, by aggregating mobile payments, banking, insurance, e-commerce, credit cards, pensions, accounting & marketing tools in sector-focused apps.
Management’s current focus includes transport for black cabs and licensed taxis (cab:app), retail for markets and independent traders (Marketti), and sport for football and rugby clubs (Fanslive).
Already, the business has generated over £1.5m in revenue, processed over 1.4 million customer payment transactions worth £41m, has over 11,000 registered taxi drivers on the platform, on-boarded 200 markets, and is in active discussions with several major sports stadiums.
Paysme’s highly impressive management team combines experts with over 20 years financial services and technology experience in hedge funds, banking, payments, retail, accounting and audit at major established firms including BNY Mellon, Invesco, Visa, MasterCard, Microsoft, Funding Circle, Virgin Group and PWC.
The company is raising £250k at a pre-money valuation of £3.56m, to achieve some very specific milestones within the next 4 months, with this round essentially a bridging round prior to next year, when management is anticipating closing a further £1m institutional equity round.
If you would like to know more about Paysme and the company’s growth and exit plans, please click here.