IBB grants 88,170 euros to Berlin start-up repay.me
The Investment Bank Berlin (IBB) has approved a grant of 88,170 euros for the start-up repay.me. This funding does not have to be repaid and comes from federal and state funds. The subsidy will be paid to the Berlin start-up in the coming weeks.
In the context of an in-depth assessment process, the two managing directors of repay.me, Mario Peter and Sascha Jonas, had to present their business plan and the beta version of their new marketplace to IBB committees.
“We are pleased about the grant from this experienced Berlin investment bank, as it expresses that the repay.me business model and our team were able to win the trust of the IBB bankers,” notes Mario Peter, one of repay.me’s managing directors.
The IBB grant is very convenient for repay.me because the preparation of the market entry planned for 2018 will be quite cost-intensive: 25 employees work daily on the last details of the marketplace in the Berlin office. The team is also supported by ten freelancers and many consultants.
The Unique Selling Proposition of the repay.me Marketplace
The innovative marketplace of repay. me is characterized by the following USP’s:
- Users participate in the advertising revenues of repay.me by small daily cashback payments;
- Users receive up to 100 percent cashback for each purchase, because the cashback is mainly generated from repay.me’s advertising revenues and not from the seller margins;
- Cashback is paid for new and used goods purchases;
- Both online and offline shops (e. g. restaurants) can register on repay.me and offer their customers up to 100 percent cashback.
About repay.me
repay.me was founded in 2015 in Berlin. With the two managing directors Mario Peter and Sascha Jonas at the head, repay.me is developing a worldwide marketplace that is to go online in 2018. After each purchase, customers are repaid in small amounts on a daily basis until the purchase price has been completely paid back. Because the cashback comes mainly from repay.me’s advertising revenues, repay.me can also pay out unlimited cashback in industries with low margins. The company’s own REME-Coin rounds off the business model and integrates all cashback processes in real time into a simple payment process.
