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PayTo fintech Hello Clever raises $4.5 million Seed round

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A buy-to-earn fintech hello slim has raised $4.5 million in a seed round as it seeks to build out its instant rewards ecosystem.

The round was led by Vectr Fintech Partners with participation from CrossFund, Yolo Investments, Magnivia Ventures, Son Tech Ventures, Boson Ventures and notable angels such as Ken Cheung, the former APAC head of Facebook and Instagram, Daniel Johnson of Mercurien Insurance and Bosco Tan. .

The announcement came just days after Hello Clever became the first payment platform in Australia to offer pre-authorized PayTo payments, completing the first PayTo payment in Australia with the RBA on August 17.

Launched in early 2022 by high school friends who became co-founders Caroline Tran and Gavin Nguyen, the couple plans to use the capital to build a team of developers and designers as they begin to finish other markets in the Asia-Pacific region as well. to scare.

Tran, the fintech’s CEO, said the platform is designed to support Australian millennials and Gen Z in tracking their income and expenses, while using their own money to make payments as an alternative to credit-based purchases, now. pay for services later.

“Hello Clever is the first Australian buy-to-earn platform designed with the customer in mind,” she said.

“Through its real-time payment API, an instant payment solution powered by the new payment platform (NPP), PayTo and PayID, Hello Clever offers customers real-time cash back and allows users to smartly manage their spending, tracking it in real-time across multiple bank accounts.”

The startup is at the forefront of the transformation of the Australian payments landscape, with the launch of PayTo in July. It is part of the NPP system and offers a new way for traders and companies to initiate real-time payments from their customers’ bank accounts.

Fast payments and rewards

Designed to enable fast payments (PayTo, PayID) for retailers, Hello Clever uses open banking, fast payments and AI technologies to build an end-to-end experience for younger consumers in terms of shop, pay, earn and manage expenses.

“With PayTo, payments are now secured at the bank level, meaning our customers can set up automatic payments from and receive rewards in their own bank accounts. This allows us to focus more on building a comprehensive, hassle-free expense and revenue journey for our customers, while welcoming larger merchants and enterprises across all industries,” said Tran.

“Imagine a platform where you can just checkout and earn cashback without even thinking about your cards or bank accounts, and at the same time you are pretty sure that your merchant will receive your payment instantly and securely – that’s the kind of experience that we building.

With Hello Clever, merchants can pull new customers out of the fintech ecosystem and transact securely with less fraud and chargebacks.

Tran and Nguyen are not only at the forefront of that, but also want to increase consumer incentives to encourage them to embrace the PayTo move.

“Achieving more than $4.5 million in seed funding allows us to grow and scale our product offerings so we can support as many users as possible to achieve their financial goals,” Tran said.

Hello Clever now has more than 30,000 active users and has built partnerships with more than 70 banks and more than 1,010 retailers, including brands such as AMH Hair & Beauty, Skeyndor, The North Face, Under Armour, Lee Jeans,
Timberland and T2 Tea.

Mark Munoz of Vectr Fintech Partners said they were immediately impressed with Tran .’s vision

“She saw the trend of open banking taking over the fintech space in the US and Europe and figured out how to localize it to the Australian market through Hello Clever,” he said.

CrossFund CEO Ben Cardarelli said they hadn’t seen another fintech app for millennials on the market with the same traction and positive customer reviews.

“We could tell Caroline was a force of nature and knew the industry through and through,” he said.

“We predict that Hello Clever can grow into Southeast Asia via the Philippines, Indonesia and Vietnam. These are all big markets with a large, young and tech-savvy population that can greatly benefit from a payment solution like Hello Clever.”

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