/start ups

News and resources on fintech start-ups, scale-ups, hubs, accelerators, VCs and funding worldwide.

Super app startup Paysme shuts up shop

Paysme, a fintech startup aiming to build a financial super app for small businesses in the UK, is winding down.

Be the first to comment

Super app startup Paysme shuts up shop

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Founded in 2020 by former BNY Mellon banker Derek Stewart, the startup secured a £1 million investment via private capital platform Globacap in August 2021, followed by a £50,000 seed investment the following year.

Paysme aimed to ride the super app wave, delivering a combination of mobile payments, e-commerce, digital banking, accounting, lending, and insurance services in a single app.

Stewart shared news of the firm's demise on LinkedIn: "While our purpose, product & brand made a meaningful impact in 3 traditional small business communities including taxis, independent retail & sports clubs, the challenges we faced during & post COVID meant the business was not in a sufficiently strong financial position to grow to the next milestone."

Sponsored [Webinar] The Automation Imperative in Asset Servicing

Related Company

Comments: (0)

[Webinar] Preventing disaster: How banks can address operational resilience to prepare for global ouFinextra Promoted[Webinar] Preventing disaster: How banks can address operational resilience to prepare for global outages