PonchoPay is on a mission to revolutionise payments in the childcare ecosystem.
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | www.ponchopay.com |
| Sectors | Finance & Payments Digital Mixed B2B/B2C |
| Company number | 12875128 |
| Incorporation date | 13 Sep 2020 |
Investment summary
Business highlights
- Thousands of childcare payments already handled
- Immediate pipeline & LOIs worth tens of millions
- Nearing a partnership with major global payment processor
- Accenture's Fintech Innovation Lab 2023 Cohort
Key features
Idea
Introduction
PonchoPay aims to change the way parents pay for childcare and access the government funding they're entitled to.
Hundreds of millions of pounds of government support available to parents is going unspent each year due to poor awareness, clunky processes and a low adoption of technology. PonchoPay is making it easy for any source of funding to be aggregated at point of checkout, saving parents money and saving childcare providers a significant amount of time in the process.
Using Poncho Pay's intelligent automation engine, our vision is for parents to be able to quickly access and use this funding across all childcare providers that are registered to receive them nationwide.
As we build our prominent role in the payment journey, PonchoPay will be well positioned to offer additional services in future to parents and childcare providers alike. Growth capital and insurance solutions for childcare providers, Buy Now Pay Later for parents and AI-powered booking curation tools are a handful of additional revenue sources that we plan to explore in the future.
Substantial accomplishments to date
2,500+ unique childcare payments worth over £225k already handled through PonchoPay since launching towards the end of last year
An immediate pipeline of nearly £30 million pounds worth of transactions with an estimated £100 million pounds more in discussion
Estimated £1.5 million + worth of annual transactions secured by way of Letters of Intent
High client retention rate
We're close to signing a partnership agreement with a major global payment processor that will help pave the way to access the total GMV of the childcare market.
Participation in Accenture's prestigious Fintech Innovation Lab 2023 Cohort and Adyen's accelerator programme for social impact businesses in the payments space
Mayor of London's Business Growth Programme cohort 2022
Spun out of Kamet Venture's highly regarded incubator, backed by AXA
Experienced team of serial entrepreneurs
Monetisation strategy
Our revenue source is generated through a per-transaction percentage fee, which is billed to the childcare provider at the end of each month.
Although we do not process any payments ourselves, the PonchoPay software assists parents and childcare providers alike through the process of accepting, managing and reconciling all payments including government subsidised ones. Our monthly charge is thus a reflection of the total value of transactions we've managed for the childcare provider in the preceding month.
Our future monetisation plans could potentially include adding embedded finance options via bank accounts, enabling payouts from government schemes directly to a PonchoPay-powered bank account.
Use of proceeds
With the proceeds from this fundraise we aim to unlock a queued backlog of interest from large childcare provider groups, specifically building out our technology team to enable integration with key, high volume partners that we’ve already lined up.
We firmly believe this investment will pave the way for PonchoPay to experience growth that will position us for larger institutional investment in the latter part of 2024.
The team make-up at present includes:
Senior Management: CEO, COO, CPO / CTO
Tech: Full Stack Developer
Sales: Customer Success Executive, Sales Executive, Sales Development Representative
With the proceeds from this funding round we will look to fund the existing team and the addition of two further team members in the technology team.
Other notable expenditure includes office rent and tech services such as hosting and security services.
Key Information
Share Classes
The company currently has 2 classes of shares, Ordinary & Preferred. There are non-UK direct Investors who will be receiving Preferred shares. Seedrs investors will be receiving Ordinary shares, which are EIS eligible. Funds reflected in the progress bar for the campaign include investments by investors who are receiving Preferred shares.
The rights attached to the share classes are as follows:
• Ordinary shares:
⁃ No exit or liquidation preference
• Preferred Ordinary shares:
⁃ In a liquidation or sale, Preferred Ordinary Shareholders receive 1x the amount they paid for the Preferred Ordinary Shares in priority to other Shareholders;
⁃ Preferred Ordinary Shares may be converted into Ordinary Shares by the Shareholder giving written notice to the Company.
Open an account to get access to the team members of PonchoPay
Already have an account? Log in
To comply with financial regulations, we can only show full campaign details to registered users.
Only shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy sharesOnly shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy sharesOnly shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy sharesOnly shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy shares