How they describe themselves: For Gen Z, a majority of transactions are done within groups, but the tools needed to collaborate are insufficient. Solutions are often manually pieced together, lacking insight and controls over the use of funds. Opening a joint account is possible, but they’re difficult to create, hard to maintain, and even more difficult to close.
Payclub solves these problems by providing both a personal account, plus unlimited collaborative accounts. These accounts provide users accountability and insight into the collection and use of funds.
How they describe their product/innovation: Payclub helps groups manage money together using collaborative group accounts. In under 30 seconds, you can create a group to manage money with transparency and insight. Roommates, relationships, group trips, or clubs/organizations are groups who can use this service repeatedly or just once. Users can split costs by each, total, and custom amounts, providing an all-in-one platform to what is typically a multi-product solution.
Product distribution strategy: Direct to Consumer (B2C)
Bus. Dev. & Press: Alex Grodnik, COO, alex&payclub.co, 310–908-2249