Business

Contactless tipping firm Gratsi in Dublin acquisition

TOP TIPS: Strikepay chief executive and co-founder Oli Cavanagh (left) with (from left) his fellow co-founder Charles Dowd, Gratsi founder Jack Spargo and Strikepay's chief growth officer Edel Kinane. Picture: Naoise Culhane
Gary McDonald Business Editor

CONTACTLESS tipping and gratuity company Gratsi, set up in Belfast a year ago by software engineer Jack Spargo (34), has been acquired by Dublin-based competitor Strikepay, which has been delivering its own patent-pending cashless tipping and payment solution since last year.

The acquisition will complete this month, with Spargo joining the Strikepay team as vice president of engineering.

Working with founders Oli Cavanagh and Charles Dowd, he 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 growing its customer base particularly in the hospitality and beauty space, and the takeover will ensure the synergy between the two companies can be maximised.

Strikepay was founded as a direct response to the challenges posed by the rapid acceleration to a cashless society, offering a solution for consumers want to tip and to donate to charities, but often cannot because so few now carry cash.

Its founder and chief executive Oli Cavanagh said: “The technology Gratsi has built is incredible, and it has 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 added: “Both companies 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.”

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