Manchester Group Payment App, Collctiv

Manchester-based Collctiv secures £140,000 co-investment from GC Angels.

07:05 06 May 2020

Manchester-based Collctiv, a group payment app launched in September 2019, has recently secured a £140,000 co-investment from GC Angels. The app enables friends and family to collect money together or collect multiple sources into a pot, which can be used for a variety of reasons, including charity donations and holiday bookings. 

 

Collctiv CEO and Co-founder Amy Whitell said: "There has always been an element of awkwardness when trying to gather money from friends for expensive group bookings - we wanted to introduce a platform that would remove the burden from individuals and make their lives easier. 

 

"As we move closer towards a cashless society, we believe that exchanging money between friends and family should be a completely seamless process, which is why the average Collctiv transaction takes only 10 seconds. 

 

"GC Angels has supported us at the perfect time, as we are looking to build on our app to deal with the growing numbers of users we've welcome on to our platform in the last eight months."

 

Jessica Jackson, Investment Director at GC Angels said: "As a special social impact lender, this is exactly the type of company that GC Angels looks to support.

 

"Collctiv has used its platform for good and strived to help those that are struggling in difficult situations, meaning it has truly set an example for other Manchester startups to follow. GC Angels is proud to back the business, and we are confident that Amy and her team will continue to go from strength to strength."