315: How Social Payments Startup Plynk, Plans To Be A Verb In Every Language
On the foot of their €25 million Series A raise earlier this month (one of the largest in Irish history), Plynk is beginning their expansion plans across Europe with the aim of becoming a “verb” in every European language.
Today, sending a photo, video, or chat with a friend has become second nature to young adults. This cohort has become accustomed to the free and instant transfer of data using purely their mobile phone. This is also the generation that can see when their friend is typing. No wonder many find it hard to fathom that a bank transfer can take days.
By offering instant person-to-person payments, Plynk is aiming to remove the awkwardness and complexities associated with sending money to family and friends. Linked to users’ social networks, Plynk users can send money as a message to a single contact or in group chats instantly and with no fees. Once an account is created, users receive a payment account with a dedicated IBAN and virtual Mastercard for online payments.
With Plynk, users send money to a name, not an account number, turning a normally formal and uncomfortable task into a transparent, instant, and social interaction. This intersection between social and payments is an area Charles is avid on exploring, especially due to his experience at both Microsoft and Facebook within the States and Ireland.
I founded Plynk, the money messenger, to make money more fun for people. Money messaging makes money move freely between people. Currently solutions for moving money can get between friends. – Charles Dowd
Charles Dowd – CEO & co-founder
Charles began his engineering career like many others at the time in IBM. Following a stint at Microsoft, Charles set up a social loyalty company that was acquired by Student Universe (Parent: FLT (ASX)) and morphed into SoHalo. After this Charles spent almost 5 years as a product manager at Facebook based between Dublin and Menlo Park.
Since 2015 Charles has been pulling his various skills together to build a team to tackle the problem of person-to-person payments.
Clive Foley CTO & Co-Founder
Clive is a technology specialist with over 13 years experience in software development. Prior to Plynk, Clive held a number of software development and engineering roles in global enterprises such as Microsoft, Wonga, Ding, Renaissance Re and Pocket Kings. In 2015, Clive followed his passion for harnessing cloud technologies and digital finance products and co-founded Plynk.