Trisbee is a European mobile based payment system with 500+ merchants and 5k+ users growing 7% monthly.
- Prague, Czech Republic
Categories: Finance & Payments Digital Mixed B2B/B2C
- Social Media
- Company number
- Incorporation date
- 2 Feb 2016
- Investment sought:
- Equity offered:
Trisbee is a European mobile based payments platform. It has the ambition to become completely independent banking and payments solution. Launched in mid 2018, Trisbee has been growing in scope and variability ever since. It is now a provider of payment services to merchants, events (tickets) and charities (donations).
Our merchant acquisition process is fully compliant with Czech National Bank KYC and AML standards. It is user friendly and executable online in a matter of hours. Our user acquisition process is intuitive and easy and takes less than 5 minutes.
Core markets that Trisbee is currently targeting are:
- small merchants (online and offline)
- charities and donations
- ticket-selling events
Trisbee is currently active in the Czech Republic and preparing to expand to Italy, Spain, Germany in 2020 and other EU countries in 2021. We would like it to become a more efficient and uncluttered alternative to the current terminal-based payment systems.
Trisbee has the ambition to create a Europe-wide cashless payments solution. Many merchants, charities and event organizers currently lack adequate cashless options. Trisbee will be a more efficient and friendly alternative for everyone.
We are relying on our proprietary technology. It allows payments to be accepted without any upfront costs, special equipment or power outlet. Thus, Trisbee will be able to reach even the most distant or isolated users and communities.
The variability of our system allows for maximum customization. The range of tools we plan to offer include promotions, big user data analysis and loyalty programs. We have already implemented our technology in different transaction paradigms. For example, our ticket distribution business already helped more than 20 events.
Substantial accomplishments to date
- Trisbee started offering its cashless payment services in mid 2018.
- We have received around 370,000 EUR of pre-seed funding.
- This allowed us to grow on average by 10% per month to around 550 merchants and 5,200 active users in October 2019. In the same period of time, we grew from around EUR 2,000 in monthly transaction volume to around EUR 25,000.
- We have succesfully developed both iOS and Android apps and our ticketing platform.
- Our development team is currently integrating a proprietary solution for merchants to register sales with the Czech Ministry of Finance. This will represent a MVP solution for merchants that fall under the reporting obligations, but do not wish or cannot purchase a full scale digital cashier equipment.
- We have succesfully launched our ticketing platform with several customers / event organizers.
- We have succeded in obtaining a payment service provider license from the Czech National Banks and will be submitting a full PSD2 license application. This will allow us to expand our services to all EU countries. We expect to receive this license in October 2020 at the latest.
Trisbee charges merchants a transaction-based percentage fee.
Additional revenues are generated by our tickets distribution platform as well as subscription fees from the sales registration module. In the future, we intend to monetize other value-added services:
- promotion events and campaigns for merchants,
- customization and more advanced services for merchants like loyalty programs,
- more traditional banking services like lending to businesses.
Use of proceeds
The proceeds of the campaign will be used to support continuous product upgrades, expansion to Germany, Italy and Spain, as well as to boost organic growth.