TapTop, an “American Express with Cryptocurrency,” Raises £85K+ via Seedrs

TapTop, which is reportedly led by ex-Morgan Stanley, Credit Suisse & PayPal, and is aiming to build “an American Express with cryptocurrency,” has raised 106% (£85,143) of its£80,003 target from 96 investors (at the time of writing) with 9 days left in the firm’s crowdfunding campaign, carried out via Seedrs.

Located in London, TapTop operates in the Finance & Payments sectors (Digital B2C). The firm was incorporated in December 2020.

Investment sumnary is as follows: Type Equity;  Valuation (pre-money) of £2.8M; Equity offered: 2.91%; Share price of £0.27; Tax relief; SEIS.

Business highlights are as follows:

  • Led by ex-Morgan Stanley, Credit Suisse and PayPal
  • Awarded ‘Unique & Scalable Business’ status by UK Gov
  • Waiting list grew 400% to 1300+ in just one month
  • Global card spend is estimated to exceed $67 trillion by 2025

Key features: Secondary Market;  Seedrs nominee min. £10.26 +.

As noted in the update, a lot “has changed in the past few years and it’s never been more important for people to have access to a payment product that they can rely on.”

TapTop is on a mission “to unlock the power of credit, making it easy, honest and eco-friendly on behalf of what matters to us most: people & planet.”

The alpha app was “launched in early 2022, and they are aiming to launch it to the public with the funds from this round.”

The Fintech firm’s card is “recycled and will give you the power to make a positive impact.”

Each time you use your card they plan “to give cashback, which you will be able to withdraw or donate to a charity of your choice.”

As mentioned in the update:

“Revolutionizing the way we pay – TapTop is an app designed to connect your bank accounts, calculate what you can afford to buy and give you the flexibility you need to pay anywhere over time with traditional or cryptocurrency – zero fee, zero interest and zero stress.”

Just TapTop anywhere “with simplicity, flexibility and fun you know and love — only more.”

TapTop is designed to create revenue via the following in-app services:

  • Crypto transaction fees
  • Card rebate (interchange and international withdrawal)
  • Fiat transaction fees
  • FX market competitive fee
  • Monthly subscriptions for premium services
  • Late payment fees

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