Ireland fintech company Strikepay acquires UK rival Gratsi
Strikepay, the fast-growing Irish fintech company delivering a revolutionary patent-pending cashless tipping and payment solution, has acquired UK competitor Gratsi. The acquisition will complete this month with the Gratsi founder, Jack Spargo, joining the Strikepay team as Vice President of Engineering. Working with founders Oli Cavanagh and Charles Dowd, Spargo will bring his complementary technology solution to the Strikepay platform, broadening the reach of the revolutionary cashless tipping, payments and donations proposition.
Gratsi has been operational in the UK since 2020 and has been growing its customer base in the hospitality and beauty industries. The acquisition will ensure that the synergy between the two companies can be maximised with existing Gratsi customers transitioning to Strikepay.
Strikepay was founded in late 2020 as a direct response to the challenges posed by the rapid acceleration to a cashless society. Consumers want to tip and to donate to charities but often cannot because so few now carry cash. Strikepay fixes this problem for consumers and is rapidly growing across a number of industries including retail, tradespeople, hospitality and beauty. It is also supporting a significant number of large charities, helping them to increase cashless donations from people in a much easier way, with a simple tap of their phone.
Gratsi was launched with similar ambitions during the height of the pandemic. The company focused on facilitating contactless gratuity and tipping for workers in the hospitality and food industries and has built a loyal client base in the UK.
Speaking about the announcement Oli Cavanagh, CEO and Co-Founder, Strikepay said, “We are delighted to be making this announcement with Gratsi today and that they are as excited as we are about joining the Strikepay team to help drive our product development and innovation. The technology they have built is incredible, and they had begun to carve out a great business in the UK so by joining forces we will be able to accelerate our expansion plans beyond Ireland.
“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. Our unique proposition will allow us to tap into new opportunities that are opening as a result of the rapid shift to a cash free world.”
Gratsi founder Jack Spargo said, “Gratsi and Strikepay share a similar mission and when the opportunity to join forces was presented we were delighted to take it. Working together we are stronger and will be able to double down on our efforts to solve this problem positioning ourselves as 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.”