Plynk: Golden Irish Opportunity?

Not intimidated by Brexit, perhaps even benefited by it, this Irish startup offers a new level of service:


Co-founded in 2015 by  Charles Dowd  and
Clive Foley , Plynk has created a money-messaging app that lets phone users
chat one-on-one or in groups and to send or receive money instantly and without
charge from within the chats.

The Plynk app is primarily targeted at younger consumers. It has been developed to remove the complexities of money transfers among family and friends. The app, which is linked to users’s social networks, allows consumers to open payment accounts, get a card and make payments in euro, with other currencies to follow.

Multiple outlets

Once a Plynk account is created, users receive a dedicated IBAN and virtual Mastercard for online payments. In addition, the application plans to integrate with both Apple and Android Pay, enabling users to spend their money across multiple outlets.

“We see cash as our biggest rival but feel we have a leg up on it because you don’t have to be beside someone to give them some of it,” added Mr Foley …

 

“The money we’ve raised will be used to increase the size of the team and to roll out the product across the EU. Most of the hires will be in Dublin and we’re looking for at least 20 programmers. We envisage taking on other people, most likely in business development in other countries, as we launch the app there but Dublin is home and we aim to keep the tech here,” said Mr Foley, the company’s chief technology officer.

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