Collctiv is a digital payment platform that enables users to collect money from friends and family through custom payment links, allowing for quick transactions without requiring account creation or app downloads. It addresses the challenge of organizing group payments for events and activities by providing a streamlined process for tracking contributions and managing funds securely.
Funding
$2.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Organizing group payments for events, gifts, or shared expenses often involves the cumbersome process of manually tracking contributions, sending reminders, and handling various payment methods. This can lead to awkwardness, delays, and administrative overhead for the organizer.
Solution
Collctiv streamlines group payments by providing a digital platform where users can create custom payment links to collect money from friends and family. Contributors can easily pay through their digital wallets without needing to create an account or download an app. The platform offers real-time tracking of contributions, allowing organizers to see who has paid and what they've paid for. Funds can be withdrawn to a bank account within 2-3 days or converted into e-gift cards for various retailers. Collctiv leverages Stripe for payment processing, ensuring secure transactions and identity verification.
Target Audience
Collctiv primarily targets social organizers, event planners, teachers collecting for gifts, and individuals managing group expenses with friends, family, or coworkers.
Features
- Custom payment links for easy sharing via text, email, or messaging apps
- Real-time tracking of contributions and payment status
- Digital wallet integration for seamless payments without account creation
- Option to add messages to payments for clarity
- Fast withdrawals to bank accounts within 2-3 business days
- E-gift card conversion for over 20 popular retailers
- Secure payment processing via Stripe with 3D Secure authentication