Collctiv aims to make group digital payments simple and seamless

by Startacus Admin

Collctiv, the Manchester-based startup that makes it easy to #GoCashless and collect money from friends, family and neighbours...

Most of us will have been in the situation where we want to simply send some money to a friend or family member without going through the hassle of bank account details and little verification card machine things from our bank that don’t work properly no matter how many batteries we put in it and if it doesn’t get its act together it’s going out that window, and also without payment fees...

Most people’s go-to is PayPal, of course, but what if we want to do more than just send that money?

Perhaps the family is all contributing to little Timmy’s 16th birthday fund and you want a quick and easy method of putting money into a pot that even the grandparents can wrap their head around.

Manchester-based startup Collctiv thinks it has the answer. Collctiv is a simple group payment app that not only allows you to send money to friends and family, but to create that pot into which everyone can contribute, be it for a holiday, shared gift, or Twister grand prize fund.

You can set end dates and target amounts for these pots to ensure that it doesn’t end up with too much money and the hassle of working out who put in what to return the extra. Other payees don’t even need to download the app if they don’t want to - only the person setting it up needs to - but if everyone downloads it, then every contributor can see who has paid what, should the option be turned on.

During the current COVID-19 pandemic, Collctiv says that their users have reported using the app for charity donations for the NHS frontline staff, and Collctiv itself was made fundraising partner for the North West’s #LocalLegends initiative, set up to do just that.

As well as this, users have been putting it to use taking money from their elderly and vulnerable neighbours in order to do their shopping and for donating to local foodbanks.

In early May, Collctiv announced that it had raised £140,000 in investment from GC Angels, which will be used to develop the technology further and ramp up marketing efforts.

And seeing as sharing-is-caring, we thought wise to share word on their goals to date...

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Published on: 17th May 2020