Parpera, an Australian fintech seeking to build an ecosystem of fair and transparent products and services that helps people to effectively setup, has successfully secured $800,000 through its Equitise campaign.
Founded earlier this year, Parpera is developing a digital solution that will initially seek to provide digital wallet, card, payment, and money management capabilities. The company noted that the features are co-designed with a community of Australian businesses to help them improve the way they do business.
“Parpera is purpose-led and aspires to empower people and businesses. Parpera’s ambitions are global, and it is starting with Australia. Parpera is designed to be a platform business, which will build its foundations with a specific-product focus and evolve into an ecosystem of products and services, focused on building a competitive and sustainable business that delivers long-term value, for its members, team, investors, and external stakeholders.”
Parpera’s initial business model will focus on generating recurring and transactional revenue from:
- Subscriptions: a monthly fee with tiered packages
- Wallets and cards: card interchange and foreign-exchange revenue
As the product develops, future revenue streams will extend to:
- Funding: a fixed funding access fee and late payment fees
- Marketplace: partner revenue share or referral fees
Parpera added it is adopting a community-led approach, which is focused on increasing share of mind (awareness, education, and trust in Parpera) and wallet (business funds and revenue) to drive growth over three key phases, in line with its planned product roadmap.
“Parpera is targeting the micro-business segment whose growth has been driven by the disruption in traditional career pathways and an increase in non-employing businesses, such as sole traders, freelancers, gig-workers, and entrepreneurs. This segment represents 88% of the 2.4 million Australian businesses and is largely underserved and undervalued by Big 4 bank offerings due to having lower financial complexity in and low-to-no borrowing needs.”
Funds from the Equitise camapgin will be used to continue the growth and development of its products/platform, as well as advisory/professional services, internal resources, and customer acquisition.
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