Shrap is a payments platform that connects cash processing devices to bank networks through digital wallets, enabling seamless cash deposits and recycling. The platform addresses inefficiencies in traditional cash handling by providing same-day credit for deposits and facilitating fee-free micropayments, enhancing operational control and revenue for businesses.
Funding
$300.4K 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
Traditional cash handling processes are inefficient, often involving delays in crediting deposits, reliance on legacy systems, and limited integration with digital payment methods. This can lead to increased operational costs, reduced revenue opportunities, and a degraded user experience for businesses and financial institutions.
Solution
Shrap provides an infrastructure platform that connects cash processing devices to bank networks through digital wallets, enabling streamlined cash deposits and recycling. The platform facilitates same-day credit for retail and commercial deposits via a white-label app or custom integration. It also supports cash recycling, allowing currency to freely recirculate within a business's environment. Furthermore, Shrap enables fee-free micropayments through integrated wallets, supporting use cases such as retailers issuing digital change for customers to store, exchange, and respend.
Target Audience
Shrap's primary customers include cash-in-transit (CIT) companies, hardware vendors, and financial institutions seeking to modernize their cash processing solutions and provide seamless cash and banking interchange to their customers.
Features
- Connects cash processing devices to bank networks via digital wallets
- Enables same-day credit for retail and commercial cash deposits
- Supports cash recycling within a business environment
- Facilitates fee-free, anonymous micropayments
- Offers a white-label app for cash deposit solutions
- Provides custom integration options for existing systems
- Intelligent optimization for a scalable and sustainable network