The days of passing an envelop around the office to collect money for a colleague’s leaving gift or birthday could soon be numbered after a Scottish financial technology start-up launched a crowdfunding campaign.
GiftRound’s website allows users to collect money for gifts from colleagues spread across multiple offices. The site also sells gifts, vouchers and experiences from retailers including John Lewis and Marks & Spencer.
Research carried out for the firm found that collecting money for birthday presents, leaving gifts or other donations can take up to seven hours. The process is hindered by people carrying less cash.
Edinburgh-based GiftRound aims to raise £75,000 through the Crowdcube platform to fund its expansion. It wants to target the £600 million wedding gifts market and the 220,000 gifts bought each year for primary school teachers.
Founder Craig Forsythe said: “GiftRound began as an idea that I woke up with several years ago. I wondered why there wasn’t an online solution for gift collections at work.”
The company has been supported by FinTech Scotland, the body set up by the Scottish Government, the University of Edinburgh and companies to develop the financial technology sector. Chief executive Stephen Ingledew said: “GiftRound is an ideal example of what fintech is.
“Thanks to the blend of its technology and data, its innovation has the potential to make a big difference to the way people live their lives and access money. Craig and his team have done a fantastic job taking GiftRound to where it’s at today and we’re very excited to see what they’ll achieve next with the funds raised through the crowdfunding campaign.”
