49. Luke Ladyman – Cheddar

Company: Cheddar

Website: https://www.cheddar.me/

Business: Cheddar is a bank account enabled payments and cashback platform.


About Luke and Cheddar

Luke and his co-founders created Cheddar in 2020, although the company looked a little different at the time. Their initial aim was to develop a frictionless solution to splitting group expenses like restaurant, hotel and travel bills. It quickly became apparent that the real problem was not splitting the bill but getting paid back for it.

The team then shifted their focus to building that payment solution. They renamed their company Cheddar, a slang term for money that they hope to one day turn into a verb (i.e., ‘cheddar me’ – in other words, ‘pay me’).


cheddar payments


Cheddar is an instant person-to-person payments and cashback rewards platform. It allows customers send or request money from anyone irrespective of who they bank with. Cheddar also helps users to save money through cashback when they spend at any of Cheddar’s partner retailers by shopping as normal using their existing debit and credit cards.

The open banking-enabled platform records customer spend data, via first-party consent, to give its users personalised cashback offerings. Cheddar’s app tracks users’ spending, tracking where their money is spent as well as how often. This information is used to show users personalised offers from Cheddar’s retail partners.

Cheddar brings the benefits of Open Banking to consumers, making it easy to spend and get paid at the same time. Requesting money with Cheddar is just as easy as writing a message.

The company’s plans for this year are to successfully launch a cashback proposition, focusing on engagement within the UK and continuing to scale the business across both supply (retailers) and demand (users).


Get 50% Off Editorial From TechRound This November>>

(Press releases, interviews and startup of the week)