GoSEPP: The app to finance your online shopping in mere minutes
April 19 the GoSEPP team launches their innovative E-Commerce service. Bank credits are tedious to get and still very few webshops offer payment plans. With GoSEPP customers are able to pre-finance their online purchases assisted by chatbot “SEPP” and then repay them in flexible monthly installments.
Share a product and GoSEPP takes care of the rest
If you want to buy an expensive smartphone or TV today, yet your account does not allow for such a purchase, you currently have only two possibilities:
You can apply for a consumer loan (online), which can take up until days to come through. Or you can search for a shop that offers installment payment, a service that currently only 20% of all online shops offer*.
Four entrepreneurs recognized this opportunity and created financing platform GoSEPP; with which online products from €30 up to €3000 can be purchased as-needed, quickly and transparently.
The business model is simple: GoSEPP acts as the middleman. Upon customer request, GoSEPP purchases products and then sells those products to the customer in monthly rates. The customer receives the product in the speedy way they’re used to from the online shop.
Payment in installments on Amazon
The idea of GoSEPP was born when Co-founder Sebastian Schmid’s laptop broke and he needed a replacement quickly. Although the market leader offered the best prices, he had to switch to another shop with a partial payment plan.
Disgruntled by the fact that partial payment was by no means standard and inspired by a study by the University of Regensburg*, the four friends took to developing their own solution.
Launch first, then fundraising
After the official launch, the GoSEPP team will initially focus on the growth of the user base, and then start raising a Seed round.
“We offer payment plans for every online shop. Buying decisions should no longer depend on whether or not payment in installments is integrated”, says Ismail Örün, COO of GoSEPP.
After their start in Austria, the four founders want to expand to Germany and England swiftly, the two largest e-commerce countries in Europe.
*Ibi Research: Installment payment in E-Commerce 2015
Press Inquiries for GoSEPP
Iwona Laub
presse@gosepp.com
