Send money with a smile
By Teamspirit on Wednesday, 14 June 2017
Money messaging app Plynk has raised €25 million from a Swiss investment trust, reportedly the biggest Series A investment for an Irish software startup.
Launched by a former Facebook manager and Wonga engineer back in January, the app lets users send money to friends with photos, GIFs and emoji. In an ambition to redefine the awkward, detached nature of money transfers, Plynk encourages people to embellish their payments.
The interface is more similar in appearance to WhatsApp than a mobile banking app, allowing users to send small sums of money to their contacts either individually or as part of a group chat.
Once users sign up using their Facebook accounts they are allocated a payment account with a limit of €2,500 along with a virtual Mastercard, letting them spend using their Plynk account online.
With plans to integrate with Apple and Android Pay in the upcoming months, we are interested to see what impact the startup might have on the person-to-person payment space.