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Paytech App Osu Raises £2.25 Million to Increase User Base 

 

Osu, a new payment-app for the self-employed, has raised £2.25m funding in a seed round, led by Creandum and supported by Ada Ventures, Breega and series of prolific angels.

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Subscription-based Osu simplifies the day-to-day hassle of getting paid by customers by offering instant payments, invoicing, and automated payment reminders.

Users can send a payment request by entering their customer’s name, phone number, and the amount owed. The customer receives an SMS and pays by clicking a link with their own banking app.

Users receive a 30-day free trial of the Osu app, after which they have a choice of three monthly plans of £4.99 (Lite), £9.99 (Standard), or £19.99 (Pro).

The firm plans to increase its customer base from 1000 subscribers to 10,000 by the end of the year.

Noam Nevo, co-founder and CEO of Osu, says: “We know from speaking to our users that one of the biggest challenges they face is the ability to manage their payment-related admin tasks effectively and efficiently, whilst also growing their services and attracting more customers. At a time when the self-employed are already taking a hit due to the pandemic, reducing the cost of getting paid and making the process much faster is becoming increasingly important.

Initially focusing on payments and invoicing, he says Osu will be introducing a host of new business management features over the coming months – including direct communication with customers, calendar integrations, booking and scheduling, and the creation of mini-sites to help users generate an online presence.

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