TIPBx

paymentsp2p payments

FOUNDING YEAR: 2016
LOCATION: United States
Last Update: 09/07/2020

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About

TIPBx is a platform for facilitating the next generation of digital cash payments specifically focused first on gratuities for U.S. domestic service workers allowing them to receive access to their tips without waiting up to 30 days for credit card bills to settle at a venue. For the venues, TIPBx is providing an easy way to cash-out its employees and removing daily cash management headaches. ========== We have a social mission. Help some of the lowest paid people in the United States today – the service people. The people who scratch a living through tips and gratuities. We have a simple corporate mission. Anyone should be able to participate in new digital payments without divulging their personal info. You should be able to get and send money without the need to exchange your personal info. For people in the service industry, we’re creating a comprehensive way for you to work and receive money where cash is increasingly going away and getting longer to settle out from your workplace. For tippers, we’re making it faster to pay or tip anyone with your mobile phone without knowing their personal info.

Focus

PRODUCTS & SERVICES

Peer-to-peer payments, financial services; hospitality services

REVENUE MODEL

Transaction processing; loan and cash advance services, 3rd party financial services (CPL/CPA).

PRIMARY PROBLEM SOLVED

Facilitating digital cash payments for tipping in an anonymous or pseudo-anonymous manner

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

company provided insights

Traction

NUMBER OF TRANSACTIONS:

1 K

TRANSACTIONS VALUE:

12.00

ACTIVE USERS:

100

People

FOUNDERS

Dave Carr

NUMBER OF EMPLOYEES

1-10

COMMENT:

We have built payment systems, loyalty marketing for startups multiple times. Scaled the businesses to millions of users, hundreds of millions in revenue,taken the startups to IPO, merger,,spinoff.

Momentum

FUNDED

NO

LISTED

YES

For Investors

FUNDING NEEDED:

$2.5 M

USES OF FUNDS RAISED:

1. Acquisition Marketing

2. Software Development

3. Licensing

4. Outbound marketing

EXIT STRATEGY

Exit as an acquisition within a portfolio company focused on the consumer service businesses vertical or as an expansion existing digital financial services players (both incumbent or new domestic entry to the U.S.)

MONTHS LEFT WITH CURRENT CASH BURN RATE:

12 months from 27 Nov, 2017

COMPETITORS:

Bravo

Tipstr

Square Cash

BASICS

FOUNDING YEAR:

2016

LOCATION:

United States

Views:

56 VISITORS | 117 VIEWS
TOTAL EMPLOYEES
1-10

About

TIPBx is a platform for facilitating the next generation of digital cash payments specifically focused first on gratuities for U.S. domestic service workers allowing them to receive access to their tips without waiting up to 30 days for credit card bills to settle at a venue. For the venues, TIPBx is providing an easy way to cash-out its employees and removing daily cash management headaches. ========== We have a social mission. Help some of the lowest paid people in the United States today – the service people. The people who scratch a living through tips and gratuities. We have a simple corporate mission. Anyone should be able to participate in new digital payments without divulging their personal info. You should be able to get and send money without the need to exchange your personal info. For people in the service industry, we’re creating a comprehensive way for you to work and receive money where cash is increasingly going away and getting longer to settle out from your workplace. For tippers, we’re making it faster to pay or tip anyone with your mobile phone without knowing their personal info.

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Focus+
Momentum+
Traction+
People+
For Investors+
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TIPBx

About

TIPBx is a platform for facilitating the next generation of digital cash payments specifically focused first on gratuities for U.S. domestic service workers allowing them to receive access to their tips without waiting up to 30 days for credit card bills to settle at a venue. For the venues, TIPBx is providing an easy way to cash-out its employees and removing daily cash management headaches. ========== We have a social mission. Help some of the lowest paid people in the United States today – the service people. The people who scratch a living through tips and gratuities. We have a simple corporate mission. Anyone should be able to participate in new digital payments without divulging their personal info. You should be able to get and send money without the need to exchange your personal info. For people in the service industry, we’re creating a comprehensive way for you to work and receive money where cash is increasingly going away and getting longer to settle out from your workplace. For tippers, we’re making it faster to pay or tip anyone with your mobile phone without knowing their personal info.

Focus

PRODUCTS & SERVICES

Peer-to-peer payments, financial services; hospitality services

REVENUE MODEL

Transaction processing; loan and cash advance services, 3rd party financial services (CPL/CPA).

TOP PROBLEM SOLVED

Facilitating digital cash payments for tipping in an anonymous or pseudo-anonymous manner

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

PRODUCT DEVELOPMENT COMMENT

Product has moved from MVP testing to full trial testing. Acquisition of payment server technology from a competitor helped accelerate release to public with product.

KEY DIFFERENTIATORS

Only payment system that focuses on location services as a means to facilitate payments especially to facilitate in an anonymous manner.

PRIMARY CUSTOMER TYPE

Small and Medium Business - Physical Retail

Consumer

PRODUCT ATTRIBUTES

On-premises

White label

Customer facing

People

FOUNDERS

Dave Carr

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

CEO: David Carr

COO: Damien Fuentes

FOUNDER: Dave Carr

TEAM COMMENT:

We have built payment systems, loyalty marketing for startups multiple times. Scaled the businesses to millions of users, hundreds of millions in revenue,taken the startups to IPO, merger,,spinoff.

Momentum

FUNDED

NO

FUNDING COMPLETED

NO

LISTED

YES

FUNDING SERIES