Company: Voilo
Founder: Ravi Ranjan
Website: https://www.voilo.co.uk/
Description: a real-time payment and auto reward platform for micro-SMEs & charities which saves upto 90% transactional cost.
About Voilo
Voilo, a Birmingham-based Fintech Startup started in April 2021, is a real-time payment and auto reward platform for micro-SMEs & charities which saves upto 90% transactional cost, and is 95% faster in getting the funds into the bank account. Helping charities to avail £1.3 billion of gift-aid donations & enabling 40% of micro-SMEs who do not accept any kind of digital payments.
40% of the UK’s Micro-SMEs don’t accept any kind of digital payment and £600m worth of Giftaid is unclaimed by charities each year in the UK. Many businesses are being tied down to long-term contracts & expensive payment solutions. In the current payment system, businesses have to wait 3-7 days to get money into their business account. Waiting for payments costs the UK economy £2.5 billion each year and kills 50,000 small businesses and 1000 charities.
Voilo has developed the most portable and affordable payment system designed for sole traders, local businesses and charities to thrive. With just a simple scan of a QR code, customers/donors can pay securely straight from their phone and where traditional systems take 3-5 days to get payments into account, with Voilo it takes 3-5 seconds.
Voilo has grown the business to a £2 million valuation in just 7 months of product launch. In a short time Voilo has been recognised with various awards for the innovation & impact they are bringing; Fintech Startup of the year 2022 by National Startup Series, New business of the year 2022 by Birmingham Live, Company of the year by 2022 by Midlands service award. Recently closed their seed round of funding and looking forward to product-market fit, and to accelerate growth.
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