BNPL has been making headlines for a few years now. Companies like Klarna and AfterPay are dominating the space with record valuations.
Leon Wilson and Brian Teo, co-founders of PollenPay, lacked technical expertise in-house to deliver a fintech product, so they reached out to us. At first, we were doubtful of their idea. I told them that going up against the likes of PayPal Credit, Klarna and AfterPay seems like a David and Goliath situation… To which, Leon replied that in the legend, David wins. After more in-depth discussions we became convinced that the guys have run the numbers, done the market research and are fully invested in this product’s success.
We bought into the vision and became a part of the team.
The application was designed to give the user a seamless shopping experience both in-store and online. In-store, the user can quickly download the app by scanning a QR code available at the cash register. Online, the user can browse a variety of retailers such as boohoo, PrettyLittleThing or Gymshark.
Compliance, security and KYC
In the fintech world, compliance and security are non-negotiable aspects of product development. PollenPay’s forward-looking co-founders hired a team of international financial compliance expert. We worked closely with the team to ensure that the security layers and KYC layers satisfy UK regulations for fintech products.
With a basic app developed, Leon and Brian had no trouble raising a first round of venture capital and credit facilities to go live. A week from launch, over 3 million pounds of transactions have gone through PollenPay.
In 2021, 55% of all consumers used BNPL services and 28% of all small businesses have connected to at least one BNPL provider.
They are a team of exceptional people. Few
development teams are as customer
focused as these guys.
Few development teams are as customer focused as these guys. The communication is excellent with weekly meetings, minutes of the meeting and almost daily emails making sure that we know exactly what is going on.
In summary, they are very professional.