Group payments app Collctiv is celebrating the major milestone of reaching £100m of processed payments.
Since its September 2019 launch, the innovative Manchester-based FinTech has gone from strength to strength, staying true to its core goal of making group payments simple and seamless for the ‘organisers’ within society.
Collctiv – which ranked fourth on our most recent FinTech 50 – empowers these organisers to effortlessly collect money from groups of people without needing to share their personal bank details. Instead, they share a custom payment link or QR code, and friends or colleagues send money by using their credit card or digital wallet.
No app download or account creation is required for the payees, simplifying the payment process and eliminating the awkwardness and frustration of chasing people for money.
“£100m is such an incredible milestone to reach,” said co-founder and CEO Amy Whitell. “I can still remember being overwhelmed when we reached our first million, never mind 10m.
“I’m just so happy we’re helping so many people come together and do the things they love with the people they love – it’s amazing to see.”
The company has launched a full web version of its service.
While the mobile app remains a core offering, the new web platform allows organisers to create, share and manage a Collctiv pot directly from their desktop or laptop, ensuring maximum flexibility for users regardless of the device they choose to use.
Pete Casson, co-founder and CTO, said: “Processing £100m is an incredible validation of the technology we’ve developed to solve a very human problem.
“I’m immensely proud of our team for building a platform that people trust at such a massive scale, and it provides a rock-solid foundation for our next stage of growth.”
The platform has been used by over 1.8m people from 175 countries.
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