Describe the company – the elevator pitch …
Plynk, Europe’s first money messenger, was co-founded as a response to the need for an easy-to-use consumer application that enables instant, effortless and transparent transfer of money among friends.
Linked to users’ Facebook accounts, Plynk users can send money as a message to a single contact or in group chats instantly and with no fees. Once a Plynk account is created, users receive a dedicated IBAN and virtual Mastercard for online payments. Plynk is fun, fast and will always be free to users.
How are you different?
We made 3 bets when designing our product.
Firstly, Plynk would integrate with the banking network. For all it’s issues, people still place a huge amount of trust in the banking system.
Secondly, Plynk would integrate with the card network. By issuing our users with a Pre-Paid Mastercard, wherever Mastercard is accepted, Plynk is accepted. This provides us with access such tools as Apple Pay and Android Pay in the future as well.
Finally Plynk made a bet on messaging. Over the last number of years people have made the move away from public feeds such as Twitter or Venmo in the US and moved towards the more intimate settings of groups on WhatsApp, Snapchat and Facebook. Plynk aims to capitalise on this trend by placing money at the heart of these small private groups and giving users a place to talk about money.
Why will the company/product do well?
What Plynk does well is building an app that is fast, free and fun to use. Simply, Plynk is the best way way to share money with friends.
The The best team always wins and we think we can build that team right here in Dublin. We’re assembling a motivated team – from top class engineers to creative marketing machines.
Where are you based?
We just moved to a new office on Camden Street! It’s a great place to be right now. It’s easy to get here by luas, dublin bikes and bus. There are plenty of lunch and coffee options too.
— Plynk (@plynkapp) June 7, 2017
When was the company launched?
The company was founded in February 2015 and we launched our product in December 2016.
What have been your biggest wins to date?
Hitting 7,000 customers in a short space of time was very exciting. It’s helped us to prove the product with the market place. Raiding our recent funding round was helpful too 🙂
What type of people (market segment) are you trying to attract to your product?
Plynk is a product for anyone who is looking for a fast, free and fun way to send money to their friends. We’ve seen most of our growth among 18-24 year olds, specifically with college students who have overlapping social circles.
Tell us about your team?
We are led by Charles Dowd, our CEO is a veteran of Facebook and IBM and Clive Foley, our CTO is ex Wonga and Full Tilt Poker. The team come from different backgrounds – some from technology backgrounds, other from finance. It’s a good mix.
We grew the team to 5 in December 2016 and there are 13 with us today, mainly software engineers. The plan is to grow to 32 by the end of the year.
What are your long term plans for your product/company?
We want Plynk to be a verb in every language. To achieve this, we plan on rolling the product out across the Euro zone and the UK.
What are your favourite tech gadgets?
We’re heavy on the use of Mac’s here with a few rogue Linux users. The Apple watch is popular with the team as well and Clive recently got some Philips hue lights! Everyone is wondering if the Tesla model 3 will be affordable 🙂
What tech gadgets do you wish you could use to help you?
With the rumours around the bezel free iPhone, we’re pretty excited to see how that will change the iOS experience!
Anything else you’d like to add/we should have asked?
We are hiring at the moment. We will be advertising specific role soon but get in touch with us at [email protected]
— Plynk (@plynkapp) July 18, 2017