Formerly called Bynk, Irish fintech start-up Plynk has raised €725,000 in funding from the likes of Enterprise Ireland, NDRC and Delta Partners.
Payments company Plynk’s presence is already being felt in the Irish fintech scene with a successful €725,000 funding round recently revealed.
The Irish Times reports that Delta Partners, Enterprise Ireland, NDRC, angel investors, and Bank of Ireland’s Start-up and Emerging Sectors Equity Fund (which is managed by Delta), were all involved.
Founded last year, Plynk is a money-messaging app that essentially combines mobile payments with the convenient and familiar format of a messenger app.
Back when it was named Bynk, which the company says it moved away from under advice from the Central Bank, the start-up featured on our list of 30 Irish fintech start-ups.
‘Send money to a name, not an account number’ is Plynk’s selling point, operating through Facebook’s login to ensure the company is dealing with real people.
Users install the Plynk app, which is not yet available, and enjoy all the standard communication tools like text and image sharing, with a built-in payment transfer the latest in a growing line of conversational commerce services doing the rounds.
A product of Bank of Ireland’s start-up workbench at its Grand Canal flagship branch, Plynk’s software-only premise will soon change, with physical payment cards in the works, too.
With euros the only currency it is operating in, sterling is the next on the list for Plynk, with this funding allowing the start-up to expand its team.