Small Business Fintech Paysme Announces £ 1 Million Raise from Private Equity Platform Globacap
Paysme, a fintech platform for small businesses, announced its £ 1million round through the private equity platform Globacap to expand what the company claims to be Europe’s very first B2B “super app”.
Paysme works closely with payment service providers such as Barclays, Railsbank, TOQIO, Bambora and Cybersource to provide mobile payment, digital commerce, virtual banking, accounting, loan and insurance services through a single application.
The company’s fintech-focused platform provides financial services to more than 3,000 underserved SMEs to accelerate their transition to a fully digital economy.
Paysme’s services have been customized for industry-specific use cases and the company now works with traditional businesses that are part of UK local communities including: Fanslive – digitizing football game experiences and rugby; Marchéti – the creation of an online shopping community for high street traders; Cabin: application – a nationwide taxi booking app for iconic black taxis and licensed taxis with professional drivers in over 50 locations across the UK and Ireland.
The capital raised from Tour de Paysme will be channeled towards improving and expanding the company’s services to support more than 1.3 million UK and Irish companies with high potential due to inadequate digital infrastructure. This would represent a market of many different companies in the UK as well as Ireland with a value of around £ 111 billion, and many other European companies.
Derek stewart, founder and CEO of Paysme, declared:
“Paysme is at the heart of the circular economy, championing the needs of local businesses and the communities they serve. These businesses are the beating heart of our main streets and have been wiped out by the pandemic – with nearly 30% of all small businesses shutting down for good. Our mission is to bring Main Street and local communities back to life by giving them easy access to integrated digital financial services and reinvesting capital in small independent operators through a client-owned business model. “
“The Paysme platform hosts everything a small business needs to run its business in the digital economy in an integrated, simple and cost-effective way with a single personal point of contact from a team with a deep understanding of their industry. It eliminates the need to use a multitude of different unconnected providers for mobile payments, e-commerce, digital banking and administrative tools, saving SMEs time, money and stress , and resolve sector fragmentation and relationship marketing.