News and Announcements
Kikapay continues to grow
- Published April 13, 2022 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Kikapay continues to grow with a national car park operator moving to solution workshops for Kikapay’s Fine payment solution. This represents another intelligent payment solution we are developing. We have also launched our soft-POS solution enabling small and medium sized businesses to accept payments face to face with their paying customers. Roza, who runs Physio Medicine in London, said “our clients have found it easy to use KiKa to pay by scanning the QR code and making the payments to us. We are now replacing all our card terminals with the payment solution provided by Kikapay”.
We also have a new senior joiner. Glenn Quadros joins the Kikapay leadership team as Head of legal and commercial. Glenn joins us with great payments experience having previously been General Counsel for the Open Banking Implementation Entity.
We continue to raise funds with the current round due to close on 10th May. This will close with a valuation of £6.5m. We will raise again in Q4 at a much higher valuation (£12-£15m), so now is a great time for an angel to invest.
About The Company
Kikapay’s purpose is to provide fair financial services to both businesses and individuals. We are using Open Banking as our starting point as this is a change to the control over financial data and services. We are initially providing fair, fast and secure payments to merchants to replace card payments, and aiming for growth via enterprise merchants.
Our payment solution is faster, more secure and 80% cheaper for the merchant compared to collecting payments by card. It is also better for the customer with a smooth and secure payment experience.
We are disrupting the payments market which provides poor service to merchants and customers. The market is huge with 540bn card transactions worldwide that we believe will move to direct from bank transactions. The UK is at the forefront of this change and Kikapay is well positioned to take advantage.
Our solution is scalable initially in the UK, and can be expanded globally wherever Open Banking exists.
We are licensed by the FCA.
We are partnered with Mohara for developing our product and Mastercard for linking to the UK Banks.
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