The genius of UK startups never ceases to improve our lives. Standing in our spotlight this month is PiP iT, a Sheffield-based startup on a mission to make cash transactions across borders significantly easier for migrants and their families.
Company name: PiP iT
Founders: Ollie Walsh, Julian Callaghan, Rory Ryan
Q: In simple terms, what does your startup do?
Ollie: We have developed the world’s first International Cash Transaction Platform. This enables migrants to pay bills with cash in their host country for their family in their home country, load cash to eWallets, accept cash for eCommerce orders, and lodge cash to bank accounts across borders.
Q: What problem/s do you seek to solve or help?
Ollie: It is very difficult to get a bank account open when you have moved country. Emigrants then have no choice but to use very expensive cash remittance services to send money home to pay bills. With PiP iT, the emigrant can pay the bill directly with cash, so they don't have to remit the money.
PiP iT logo (courtesy of PiP iT)
Q: Are you funded and how?
Ollie: Yes, we just closed a seed round which was taken up by US VC, Enterprise Ireland and angels in the UK, the US and Ireland.
Q: What were you doing before you started PiP iT?
Ollie: I was a strategic consultant for startups and scale-ups with Ingenuityhq.com.
Q: What inspired you to start PiP iT?
Ollie: Julian had the idea for this business and approached me due to my background in strategy. What inspired me to leave 'the day job' and join PiP iT was its social mission. We are a for-profit company, but we are here for the benefit of society. The fees that we save emigrants is one of our key metrics. Societal benefit is how we measure ourselves.
Q: What are your goals over the next 5 years? Where do see yourself and PiP iT?
Ollie: Our goal is to scale PiP iT to a global payments platform and to make a social impact on a global level.
Images courtesy of PiP iT. To learn more, visit the PiP iT website.
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