Clip Money

Clip Money

Enables businesses to make deposits to their existing bank account quickly, easily and securely through a national network of drop box locations in malls, big box stores, and grocery chains. Learn more

Launch date
Employees
Market cap
$17.0m
Enterprise valuation
$26m (Public information from Sep 2024)
Toronto Ontario (HQ)

Financials

Estimates*

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Revenues, earnings & profits over time
CAD202120222023
Revenues<1m<1m-
% growth-1386 %-
EBITDA(4.2m)(11.5m)(8.6m)
% EBITDA margin(174326 %)(31953 %)-
Profit(5.5m)(15.8m)(12.7m)
% profit margin(226565 %)(43868 %)-
EV / revenue-1133.6x-
EV / EBITDA--3.5x-4.2x
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DateInvestorsAmountRound
-

N/A

-
N/A

$150k

Seed
*
N/A

N/A

IPO
*
N/A

CAD3.0m

Private Placement VC
*
N/A

CAD4.0m

Private Placement VC
*
N/A

CAD3.4m

Private Placement VC
*
N/A

$6.1m

Post IPO Convertible
*
N/A

$4.9m

Post IPO Equity
*

N/A

Post IPO Equity
*

CAD500k

Post IPO Debt
*

$2.8m

Post IPO Convertible
Total Funding$7.8m

Recent News about Clip Money

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More about Clip Moneyinfo icon
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ClipMoney operates in the financial technology sector, providing innovative cash deposit solutions for businesses. The company serves small and medium-sized enterprises (SMEs) and larger retailers, offering a convenient alternative to traditional banking methods. ClipMoney's core product, ClipDrop, allows businesses to make cash deposits at various locations such as grocery stores, gas stations, and large retailers, eliminating the need to visit a bank or ATM. These deposits are processed almost instantly, with credit issued in minutes and high daily limits up to $10,000. The business model revolves around transaction fees, which are shared with participating retailers, providing them with an additional revenue stream. ClipMoney also offers comprehensive web dashboards for businesses to manage deposits, assign staff roles, and receive instant notifications. The company leverages Brinks processing centers to ensure maximum security and auditing of deposits. By integrating cash banking into retail locations, ClipMoney drives foot traffic and increases customer loyalty for its partners.

Keywords: fintech, cash deposits, SMEs, instant credit, high limits, transaction fees, retail integration, web dashboards, Brinks security, customer loyalty.

Tech stack

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Tech stackLearn more about the technologies and tools that this company uses.