Biz Builder Mike

You can't sail Today's boat on Yesterdays wind - Michael Noel

Overfunding: Spanish Fintech Challenger bnc10’s Crowdcube Campaign Quickly Secures £300,000 Funding Target

by

bnc10, a new fintech challenger based in Barcelona, Spain, has successfully secured its initial £300,000 equity crowdfunding target through its Crowdcube campaign, which has attracted more than 225 Crowdcube investors.

Founded in 2018 and launching earlier this year, bnc10 stated it has grown rapidly, hitting 40,000 active customers not only in the home market of Barcelona and Spain, but also in more than 20 countries across Europe.

“The combination of Apple & Google Pay, instant top-up, Spanish IBAN, P2P payments and shared accounts make it a strong alternative to traditional banks. An account can be opened, topped up and first payment made in the time it takes to have a coffee.”

bnc10 also reported its shared accounts service enables the platform to target users from 25 to 50 years old who share a flat, are young parents, or in a relationship allowing maximum flexibility to share their everyday expenses.

“bnc10 has developed its entire platform internally enabling fast development and products, leveraging Fintech partners like Mastercard, PFS and Mitek.”

bnc10 further noted that it plans to keep growing in the home market of Spain, with expansion throughout Europe and Latin America, obtain its own EMI license and boost monetization through pay-per-use premium products. The company is planning to use the Crowdcube funds for this expansion.

bnc10 is now offering 2.55% in equity at a £13,416,815 pre-money valuation through the funding round, which is set to close at the end of October.

Have a crowdfunding offering you’d like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!

Source

Cashless & Contactless Tipping Platform TiPJAR’s Equity Crowdfunding Campaign Nears £500,000 in Funding Raised on Crowdcube

by

TiPJAR, a UK-based cashless and contactless tipping platform, has successfully secured nearly £500,000 through its equity crowdfunding campaign on Crowdcube. The funding round launched earlier this month, with the original goal of raising £300,000.

TiPJAR was notably that its platform was designed for hospitality staff. The company explained that it has a powerful, legally compliant distribution engine that empowers staff to control and share their tips fairly, as well as transparently, but also takes the admin burden and risk away from business owners.

“TiPJAR provides a solution for guests to tip workers in under 8 seconds via their phones, with no app required. Designed for hospitality staff, but other tipped workers such as buskers & hairdressers are using it too.”

TiPJAR noted it is set out to solve a few problems:

  • Tipped workers are earning less each year as cash transactions reduce.
  • Businesses struggle under the admin burden, tax compliance and levels of the transparency needed to manage tips.
  • Consumer confidence in tipping is at an all-time low, with stories of major chains using service charges for their own benefit.

TiPJAR then further stated:

“By facilitating the direct payment of tips between customers & staff we remove the business or bar out of the equation, thus removing their liabilities, the burden of complying with tax legislation & reducing their costs of running a compliant tronc system.”

The company has already appointed a CEO in the US, with the aim of having live clients by November 2020, & have plans to expand across the EU and Australia. It is currently offering 9.52% in equity, at a £4.5 million pre-money valuation. The funding round is set to close at the beginning of September.

Have a crowdfunding offering you’d like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!

Source