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‘Tipping’ firm Strikepay acquires UK fintech firm

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The Strikepay executive team

The Strikepay executive team

The Strikepay executive team

Strikepay, the wireless payments company cofounded by Plink founder Charles Dowd and Oli Cavanagh, has acquired a UK payments company, Gratsi.

No deal value was disclosed, but Gratsi’s founder, Jack Spargo, will join Strikepay as head of engineering. Both firms were founded in 2020.

Strikepay uses QR codes to transfer cash between users. Connecting to digital accounts such as Apple Pay, Google Pay or credit cards, it’s intended as a payment method used for merchants and charities.

“Consumers want to tip and to donate to charities but often cannot because so few now carry cash,” the company said in a statement.

It’s the first enterprise that Mr Dowd has run since his last firm, the heavily-backed mobile payments enterprise Plynk, folded in 2019. The company has raised €650,000 in funding and aims to raise over €5m by the end of this year.

"Strikepay was founded in late 2020 as a direct response to the challenges posed by the rapid acceleration to a cashless society,” the company says. 

To set up a Strikepay payment or tip, a Strikepay QR code is established which can be scanned by a customer’s or donor’s phone camera to activate a payment via Apple Pay, Google Pay or payment card.

Food company Camille Thai is currently using the system for driver tips.

“Consumer behaviour has changed dramatically following the shift to a cashless society over the past year,” said Mr Cavanagh.

“Gratsi were focused on solving the same problems as we were at Strikepay and together we are well positioned to run quickly with our combined solution for both businesses and for consumers. Our unique proposition will allow us to tap into new opportunities that are opening as a result of the rapid shift to a cash free world.”

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