TiPJAR

Summary

TiPJAR is an global cashless tipping platform designed for hospitality staff & other tipped workers. They have a powerful, HMRC cleared, distribution engine empowering staff to control & share tips fairly & transparently. Already live in over 1650 venues in the UK, this is tipping, as it should be.

• Launched in the US, with flagship Visa partnership.
• Backed by Gary Dolman Co-Founder of Monzo
• Live in over 1650 venues, 100,000 users already using the platform
• Cleared by HMRC providing an alternative to a traditional tronc system

Idea

TiPJAR is a solution for customers to tip workers in <5 seconds via their phones. No app required. Initially designed for hospitality staff, now with other tipped workers such as buskers & hairdressers using the platform too.

We set out to solve:

1. Tipped workers are earning less each year as cash transactions reduce (Covid-19 supercharged this problem)

2. Businesses struggle under the burden of tax compliance & levels of transparency needed to manage tips

3. Consumer confidence in tipping is at an all-time low, with stories of major chains using service charges for their own benefit

We've used tech to allow customers to tip staff & groups of staff directly, this transparency gives consumers confidence that the money goes to who it was intended & removes the businesses’ liabilities, the burden of complying with tax legislation & reduces the cost of running a compliant tronc systems.

We've estimated the global tipping market to be worth a combined $100bn per year. We're the world’s first multi-currency, scalable solution, that allows us to work quickly to help solve this problem across multiple countries.

Since our first raise last year:

We received clearance from HMRC defining digital tips equivalent to cash, launched in the US with a partnership with Visa, launched in the EU, launched a dedicated tipping device 'TAP TO TIP' & became the first tipping solution to use open banking.

Team

James Brown - Founder (Part-Time)

James is currently the Global Managing Director of Retail at BrewDog and he was inspired to create TiPJAR as he saw the challenges facing the industry on staff earnings being reduced, the admin pains facing businesses in managing & distributing tips transparently, fairly & within the complex laws that govern this.

Alex Moore - Chairman

Alex is an experienced founder and restaurateur, most notably as the Co-Founder of Thai group Rosa’s Café. James and Alex built a team of experts with the right mix of backgrounds to build the idea of TiPJAR into a reality.

Paul Stancer - CTO

Formerly Head of Global Integration at World Remit, with an extensive background in global payment technology & ecommerce, he leads development on the system.

Ben Thomas - CEO

Ben joined the business as a seed investor, with extensive entrepreneurial experience leading large extras agencies & online platforms quickly assumed the role of CEO to lead the organisation through development, trial & launch.

Tom Kristensen - CFO (Part-Time)

Seed Investor & CFO. Tom's career includes being Group CFO at Plymouth Argyle FC. More recently, on the board of Rosa’s Thai Café alongside Alex.

Gary Dolman - Board Member

Gary is the Co-Founder of the app-based bank Monzo. Prior to this, he was CFO and COO for ABN AMRO Global Transaction Banking.