The international challenge of GrowishPay is to bring its technology abroad from a B2B point of view. The CEO and co-founder Claudio Cubito explains that “we are looking for partners to provide our technology in the networks of travel agencies, for example, as well as in those of retail and ecommerce. We will start from the sectors in which we have already gained experience in Italy thanks to our brands Growish, Listanozzeonline.com and Scuolapay.com that count more than 50K users and over 6 million euros of payments managed”
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GrowishPay is the leading Italian startup in digital group payments and wallet based gift lists and it is active above all in sectors such as the sharing economy, travel and school, as well as in the retail sector. This Fintech offers a series of payment solutions for the management of digital money wallets, group payments and gift lists combined with cashback systems and loyalties via API or SaaS.
“We want to make sure that merchants can use innovative open banking systems in a simpler and easier way, all turnkey, thanks to our interfaces” Cubito claims, remembering the story of the recent rise of GrowishPay. “ We are born from a B2C experience through our 3 brands. Recently, our applications have been requested by a growing number of merchants, so we have launched the GrowishPay brand to provide our technology to third parties. This led us to be chosen as one of the preferred partners in the new launch of digital POS, based on both Android and App Store, which NEXI will launch later this year”.
In Italy there is a very large market of digital group payments, exceeding 4 billion euros each year and, according to Cubito, the driving sectors are those like weddings, mothers and schools. For GrowishPay the challenge is to win the trust of the many people who still prefer to pay by wire transfers or by putting the money in an envelope passed from hand to hand, “to do it we need a great education effort and a big marketing force”. For Italy the challenge is to find capital to support startups as it was already done abroad, especially with the support of banks because, as Cubito explains, “fintech is one of those realities called ‘cash-intensive’: large volumes and few margins”.
GrowishPay is now looking for partners in the networks in which the company has already gained experience in Italy, working with Lastminute.com, Uvet, Volagratis and Musement, in order to start operating abroad by proposing a new, simple and secure way to collect money for group payments or gift lists”
“Being member of Fintech District for us is essential” according to Cubito because it means having the opportunity “to meet Italian representatives of very big companies that experience a reality different from the one we are used to live in Italy and to confront them in order to think big. In general, belonging to this community is fruitful also because it allows us to exchange opportunities and discuss with other companies that work in the same context.
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