I’m Beth, the COO/Co-Founder of Streeva and feel this is the perfect time to share Streeva’s start-up journey so far. This blog is my first ever post, so please be nice! 😄
Our exciting new technology digitally links receipts to card payments. As you might imagine, starting a technology business has given rise to both highs and lows, but what an exciting journey it’s been so far!
With the aim of automating the receipt process for expenses, David (my big brother) and I decided to step into the crazy, busy world of FinTech. We were always confident that Streeva could offer an innovative solution that would meet a need in the market, so we spent many months networking, researching and shouting across the rooftops to get people to listen to us. We were two small soldiers, with a great idea, fighting for attention in the big smoke. We pitched at many events, getting shortlisted and frequently reaching the final stage of competitions but never won first place. Among our many conversations, we encountered a sea of naysayers but, undeterred, we pushed harder and persevered, fully believing in ourselves and our new-found technology.
Throughout 2016 and 2017, our technology evolved and so did we, as founders of Streeva. We soon found that not only did we have a solution to link digital receipts to payments automatically but we could enable so much more in context of a transaction outside the scope of GDPR (General Data Protection Regulator) which comes into force in May 2018. In essence, our technology, with just a simple merchant integration, could provide receipts and other content to cardholders without compromising their identity, while simultaneously ensuring the protection of merchants’ commercially sensitive data.
The fact that our technology was certified externally as being outside the scope of the GDPR was a game changer for us. And that was the day that the idea for Swiftaid was born – enabling automatic Gift Aid on contactless donations, what a fantastic use case of our technology platform which I’m sure you’ll agree! With cash in decline, charities lost out in just shy of £200 million in 2016, and with the uprise, in contactless donation terminals, we saw an excellent opportunity for our technology platform to help get more money to charities without costing donors more.
We reached out to the payments and charity industry, and we were excited to find that they were in agreement with us and felt this is something that needs to be done. So for us to build and develop Swiftaid for market adoption, we put a pitch deck together (with help from Setsquared) and went out pitching for investment.
We pitched for funding at three different events, (The Surrey 100, Angel Academe and Set Squared 2017 Investment showcase) in October and November last year and were incredibly happy with the outcome.
We are incredibly excited to announce that, as of the 12th January 2018 we managed to finalise our Seed investment round for £264,000! This investment has allowed us to set up offices, employ staff and work full time on Streeva, putting all of our energy into making Streeva, and Swiftaid, a massive success.
We are convinced that 2018 is the year for Streeva, so we hope you will follow us on our journey and enjoy watching our progress as we push Streeva and Swiftaid out into the big, big world.