From left: Oli Cavanagh, Strikepay; Charles Dowd, Strikepay; Jack Spargo, Gratsi; and Edel Kinane, Strikepay. Image: Naoise Culhane
The acquisition will see Gratsi’s founder, Jack Spargo, join the Strikepay team as vice-president of engineering.
Strikepay, the Irish fintech start-up that enables cashless tipping, has acquired UK rival Gratsi.
Both founded in 2020, Gratsi and Strikepay, formerly known as Strike, focus on facilitating contactless tipping for workers in industries such as hospitality.
Strikepay was started by fintech entrepreneurs Oli Cavanagh and Charles Dowd. It is developing payment technology to enable cash-free tipping without the need for a payment terminal or a new app on a customer’s phone.
The Dublin-based company has raised €625,000 in seed funding and previously said it intends to seek a further €6.5m in investment by the end of 2021.
It has also been bolstering its leadership team with the recent appointment of former Just Eat exec Edel Kinane as its chief growth officer.
The company teamed up with Camile to enable contactless tipping for food delivery drivers and last month it partnered up with mobility company Bolt to bring its cashless tipping tech to taxis in Dublin.
The acquisition is expected to be completed this month with Gratsi founder Jack Spargo joining the Strikepay team as vice-president of engineering.
Cavanagh said that by joining forces with Gratsi, Strikepay will be able to accelerate its expansion beyond Ireland and into the UK.
“Consumer behaviour has changed dramatically following the shift to a cashless society over the past year. Gratsi were focused on solving the same problems as we were at Strikepay and together we are well positioned to run quickly with our combined solution for both businesses and for consumers,” he said.
Spargo added that the companies will be stronger by working together and the overall goal is to be the leading cashless tipping and giving solution in Europe.
“The reopening of society over recent weeks has demonstrated the need for this solution as well as the potential for growth. We are really excited about the opportunities ahead as part of the Strikepay team.”