Posted On 27/10/2017
By Ollie Walsh
PiP iT has created the world’s first International Cash Transaction Platform and it is now live in the UK, Canada and South Africa.
We are disrupting the remittance market by making it cheap and easy for emigrants to pay bills for family members in cash from their host country, as opposed to remitting cash to make the payments. Remitting the cash will cost up to 10% of the transaction value. Paying the bill directly with PiP iT and our partners will cost 1.5%
In 2016, £25B was remitted from UK to developing nations. 30% was used to pay domestic bills. 15% of the total remitted was sent in cash. We are now partnered with 10 African and Asian bill pay networks and can directly pay 1000 billers (utilities, groceries, insurance, school fees, airtime, data, medical fees). The number of billers we work with and countries we have collection partners in is growing, fast.
PiP iT is now working with the prestigious FinTech Circle and Angels Den to secure a round of funding. 160 companies applied to be part of the FinTech Circle program, with 18 being short-listed to pitch to their committee and a final 11 picked for a pitch event. Over 100 FinTech specific investors attended the pitch and we are advancing negotiations with a number of them.
In addition, as part of the round of funding, PiP iT has been listed on the Angels Den Crowd Platform.
This is your chance to invest in an innovative and growing FinTech Start Up for as little as £2000
The full round is £500,000 for 15% equity in the business and investment is EIS approved.
The crowd platform went live yesterday and has over £40,000 pledged already!
To view the company details and investment opportunity on Angel’s Den, click here
Alternatively, you can contact Ollie on ollie.walsh@pipit.global
