Can you tell me about your background and journey?

I spent a number of years working in design engineering within the rail sector in the UK and Australia. It was around that time I began investigating new, upcoming technologies in and around the payments and blockchain spaces. It was whilst living in Australia that I started to see the rise of the first BNPL wave, and I quickly identified an exciting opportunity to launch my own version in the UK.

Tell me about PollenPay and what you guys do?

We’re a BNPL company, originating from Manchester and serving the entire UK. We give our customers an alternative, flexible method of payment at checkout. We help customers to avoid taking the hit of one big payment, or to avoid paying high interest fees on purchases through credit card transactions. So, with our technology, individuals are able to improve the management of their cashflow and given a chance to maximise levels of disposable income.

How many people are on your team, and how did you build and grow it?

PollenPay currently employs 16 people, including myself and two other co-founders. We first started the business four years ago, with the three of us bootstrapping the company together through those early years. Later, we got an advisory firm in to help us master our compliance needs and that process lasted around 14 months. Together, we built out the frameworks and procedures that we needed to continue growing in a secure manner.

Earlier this year, we made our first four hires to the business. Since then, the team has continued to grow and grow. In fact, we’ve more than doubled our number of employees in the past year alone, achieving considerable month-on-month staffing growth since September. Now that we’re fully launched, we will be looking to go even further in bringing staff on board and to continuing our expansion in 2022.

Do you have any competitors, if so, how do you differentiate yourselves?

It could be said that the BNPL space has become a little crowded in recent years, but we believe there is still much more to be done in terms of maximising the full potential of the space for consumers. Unlike some of our competitors, we’re committed to a number of human-centric core values. If a customer has an instalment repayment that’s deemed late, then they are temporarily restricted from making any further purchases with our service until this has been paid off. To this end, we pride ourselves on taking a more responsible approach to BNPL transactions.

Have you been through funding for PollenPay and how was it?

We received a £800k pre-seed investment in September 2021, which in part came with a £20 million debt facility. It was fantastic to get this level of funding, particularly in the midst of a pandemic. In fact, we never even met our backers face-to-face; everything was conducted virtually. We managed to get the validation of these experienced investors over Zoom meetings and phone calls, which was really quite an achievement, and a testament to the power of our solution.  

What challenges have you faced, and how have you overcome them?

Staffing has been by far the biggest challenge that we’ve faced so far on our journey. It’s been a big hurdle trying to find experienced talent in the UK, and more specifically within Manchester. We’ve looked to solve this issue by bringing more junior employees into our business. It’s required us to change our staffing model slightly and necessitated more involvement and support from me and my fellow co-founders, but we’re always happy to help.

How have the last 18 months been for the business?

It’s been a really positive period for PollenPay. The pandemic has obviously changed a lot, but it’s had some real benefits for our company. More people are spending online now, which creates a new opportunity for BNPL providers. In general, we’ve seen huge growth in this space over the past 18 months, which is exactly in line with our expectations and reaffirms our decision to fully launch in the UK.  

What has been your favourite part of the PollenPay journey?

All of it! I honestly wouldn’t change a thing about our journey so far. Getting the backing of our investors was amazing, especially given the context of the moment. Being able to secure such a large amount has really given us the confidence that we’re onto something with our business model and the service we offer. It’s also been great to see how our staffing levels have grown and I’ve loved bringing so many talented individuals on board. 

What’s next?

We’ve just launched our app, so the year ahead is totally focused on growing our brand in the UK. We already have several notable retailers on our platform and will continue to expand upon this over the next 12 months. By the end of the year, we hope to have created the most efficient and effective BNPL platform on the market. Our end goal is to help businesses and individuals gain greater control over their finances through our service.

To learn more about PollenPay and its plans to revolutionise the BNPL space, please visit: https://pollenpay.com/