Plynk raises €725,000 for its money-messaging app

Bank of Ireland, Delta, Enterprise Ireland and NDRC funding Irish payments start-up

Irish financial payments start-up Plynk has raised €725,000 in seed funding from a number of sources, including Bank of Ireland's Start-up and Emerging Sectors Equity Fund, which is managed by Delta Partners.

Other funding was provided by venture capital firm Delta, Enterprise Ireland, NDRC and angel investors.

Co-founded in 2015 by Charles Dowd and Clive Foley, Plynk has created Europe's first money-messaging app, which lets phone users chat one-on-one and in groups and send or receive money instantly from within the chats.

The Plynk app allows users to open payment accounts, get a card and make payments in euro, with other currencies to follow.


Physical cards

The team plans to add physical cards for users in the near future. The funding has allowed Plynk to expand its team in recent weeks.

Sonia Flynn, international VP at SoundCloud, and Peter Oakes, a former director of enforcement and financial crime at the Central Bank of Ireland, are also acting as strategic advisors to the company.

The start-up was developed over 15 months at the Bank of Ireland Workbench in Grand Canal Square, while receiving mentoring from senior members of the Bank of Ireland’s innovation, customer products, cards and payments teams, along with advice on funding and new markets from Bank of Ireland UK and Delta.

Ciarán Hancock

Ciarán Hancock

Ciarán Hancock is Business Editor of The Irish Times