Backing the social payment app
We're building Wipz to fix a problem every UK friend group knows: someone always ends up fronting the money and chasing everyone else for it.
The opportunity
We estimate a £3.3bn UK group-spend opportunity, built bottom-up from everyday group payments: five-a-side football (750,000 regular weekly players in the UK alone), group nights out, and shared savings goals like holidays. Wipz brings all three into one app: recurring RSVP-gated subs, ad-hoc group pots, and savings-goal funds, each with a stated purpose, agreed rules, and a full activity log.
What we're building
Wipz pots take Apple Pay, Google Pay, card, PayPal, and bank transfer, and let organisers spend directly from the group's pot with a virtual card, removing both the awkward "you owe me" conversation and the risk of one person's personal account carrying the group's money.
How we make money
Wipz's primary revenue is a flat 1% fee on contributions paid into a pot, capped per transaction so it doesn't scale disproportionately on a large one-off pot such as a holiday contribution. This mirrors GoCardless's UK Direct Debit pricing (1% + 20p, capped at £4), a well-established precedent for this kind of platform fee. Alongside that, we're planning a Pro subscription (£2.99/month) for organisers running multiple pots at once, with an optional fee for instant same-day payout as a later addition.
Illustrative revenue forecast
Modelled bottom-up from active-user growth starting with five-a-side teams, then cross-use into ad-hoc and savings-goal pots as the same users bring Wipz into other parts of their social life:
| Year | Active users | GMV | Revenue at flat 1% |
|---|---|---|---|
| Year 1 | 16,000 | £4.4m | £43,800 |
| Year 2 | 80,000 | £23.5m | £235,200 |
| Year 3 | 240,000 | £77.8m | £777,600 |
Illustrative forecast, not a guarantee. Figures require validation against real usage data. A conservative case at half these user numbers would roughly halve GMV and revenue each year; the shape (modest early revenue, meaningful scale once cross-segment usage compounds) holds either way.
Where we are
Wipz is in active development, with the core app and payment infrastructure built and early access opening soon. No regulatory application has been filed and no customer funds are currently held; Wipz plans to operate on top of a licensed banking-as-a-service partner rather than seeking its own e-money licence. We're targeting a seed round in the region of £750k–£1m to fund banking-partner integration, regulatory advisory, and go-to-market, in line with typical UK pre-seed/seed benchmarks.
Get in touch
If you'd like to learn more about Wipz, email barnypinner@gmail.com and we'll get back to you.
This page is provided for general information only. It describes Wipz's business plan and is not an offer or invitation to invest, a prospectus, or a financial promotion of any kind, and no securities are being offered for sale through this website. All figures are illustrative, unaudited, and drawn from an internal working business plan; they require independent validation and should not be relied on as a forecast of actual results. Any investment in Wipz would only be made available in accordance with applicable UK financial services law, following appropriate legal and regulatory advice.