As we enter one of the busiest shopping months in the calendar — both for retailers and for consumers — we’re delighted to announce our £1.65m seed round in MishiPay.
At Nauta, some of the core things we look at in potential portfolio companies are: how disruptive a solution is to a large industry and how ambitious the founding team are.
Needless to say, MishiPay, a London-based company, and its Co-Founders Mustafa Khanwala and Tanvi Bhardwaj have ticked those attributes and others.
Founded in 2015, MishiPay is tackling a frustration we’re all too familiar with: abandoning your shopping lastminute because you just couldn’t bear to stand in that long queue.
You’re left frustrated knowing that you may have to do a return visit or go home without having that item you had your heart set on.
Every year, offline retailers lose around $200B in sales as 2 out of 3 shoppers abandon their shopping.
For retailers, it’s a clear lost opportunity, but it also creates bad customer experience in an era dominated by high consumer expectation and digitally powered frictionless experiences.
This presents a problem for both retailers and consumers.
And this is where MishiPay comes in.
MishiPay has created an enabling platform technology that works with offline retailers to bring unique omnichannel capabilities to physical stores.
Different to self-service checkouts, the team at MishiPay don’t just want to reduce the time it takes to make a purchase at the shop, they want to completely eliminate it.
Their theft proof, scan and pay solution will revolutionise the offline shopping experience, and this is what caught our attention with MishiPay from the start.
Already recognised as one of London’s freshest digital companies ‘impacting the market as a life changer’ by City A.M.s Digital Innovators Power List, MishiPay has captivated the imagination of large retailers including Media Markt Saturn.
As lead investor in MishiPay, Carles Ferrer, Nauta’s London General Partner, will join MishiPay’s board, as the team use the investment to expand and bring the future of shopping to a store near you!