Plynk, Europe’s first money messaging app, has announced a Series A raise of €25m at MoneyConf 2017 in Madrid, Spain.
The investment, led by Swiss Privée, marks one of the largest ever Series A raises in Irish history.
“Today marks a significant milestone for Plynk. From the beginning it has been our aim to remove the complexities and awkwardness of person-to-person payments. This funding brings us closer to fulfilling this goal; first within Ireland and across Europe before expanding worldwide,” said Charles Dowd, CEO and co-founder of Plynk.
Headquartered in Dublin, Plynk was co-founded in 2015 by Charles Dowd and Clive Foley in response to the need for an easy-to-use consumer application enabling the 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.
In addition, the application plans to integrate with both Apple and Android Pay, enabling users to spend their money across multiple outlets.
Following a soft launch in January 2017, Plynk already have over 6,000 users across Android and iOS within the Irish market, however has plans to expand further into Europe with eyes on Spain and Portugal next.
At tonight’s Business & Finance Fintech Ireland launch at the National College of Ireland, CEO of Plynk Charles Dowd is one of our esteemed panel speakers.