Overfunding: UK Fintech Paysme Quickly Secures £250,000 Funding Target Through Seedrs Campaign

 

Paysme, a UK-based fintech mobile app, has successfully secured its initial £250,000 through its equity crowdfunding campaign on Seedrs. Founded in 2018, Paysme describes itself as a super app delivering financial services to underserved small business communities to accelerate their transition to the digital economy including mobile payments, digital banking, e-commerce, insurance, credit cards, fuel cards, accounting and loyalty/rewards.

“Paysme’s vision is to empower SMEs with a super app that solves common pain points by aggregating a suite of digital financial services on a single platform. Fintech solutions for small business owners will include mobile payments, ecommerce, digital banking, accounting, insurance, savings, loans, loyalty and rewards.”

Branded apps created and powered by Paysme currently include:

  • cab:app for black cabs and licensed taxi drivers
  • Marketti for street market and independent traders
  • Fanslive for sports clubs and stadiums

Paysme then revealed that the Paysme business model and platform have been designed to generate multiple revenue streams from a range of financial services across a number of SME communities with a common need. Current and future revenue streams to include:

  • Recurring daily revenue from card payment processing
  • Transactional revenue on all e-commerce & digital banking activities (Future)
  • Commission based revenue share from other financial services bought through the platform (Future)
  • Subscription revenue based on a SaaS model for enterprise customers and members (Future)

Funds from the Seedrs round will go towards the growth and development of the Paysme platform. The company is now offering a 25% discount through the Seedrs campaign, which is set to close in early January.


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