FinTech startup Pelikin looks to recruit Gen Y investors

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After a highly successful expression of interest campaign on equity crowdfunding platform Birchal, Melbourne FinTech startup Pelikin is continuing to rally millennials to invest in Pelikin.

Encouraging Gen Y Professionals to invest in the banking alternative with as little as $100, Pelikin is hoping to get as many users as possible over the next month to be involved in building the travel banking app.

Pelikin Founder Sam Brown said the younger market was the reason behind the development and creation of the app, so it was a natural progression for them to be a part of the Pelikin growth journey.

“Rather than buying a house, Gen-Y are more interested in putting their money towards travel and experiences and as they are the future users of Pelikin, we want them involved and get some skin in the game.”

With this reasoning in mind, Sam was especially ​pleased with the results of Pelikin’s recent EOI campaign on Birchal, due to the majority of investors being in their millennial target market.

With over 200 people submitting their EOI, 79% stated that they were retail investors, 9% stated they were sophisticated, wholesale or venture capital investors and 60% stated they were first time investors.

Of the potential investors, 75% stated that the reason they were investing was that they want to use Pelikin themselves, with 77% travelling overseas in 2018 and 63% finding the concept of the banking app really interesting.

“The campaign on Birchal has grown our waitlist and allowed us to engage with more everyday Australians who want to use our app and card to travel the world, which has given us further validation that we are focusing on the right areas,” said Sam.

“It was really important to us to get as many travelling millennials invested in our product and our brand, and we certainly achieved this.”

Pelikin is now taking all the necessary steps in order to convert its EOI into a successful raise, with funds going ​towards the development of their app, which hopes to make everyday banking and travel banking a seamless and sophisticated experience.

Early investors will get a customised prepaid card, Pelikin merchandise, first access to the app and first rights to select their Pelikin username, which will be used for all future transactions instead of an account number.

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Paul Towers is a passionate supporter of the Australian startup ecosystem and the Founder of Startup Soda. Originally, Startup Soda was solely a newsletter that helped curate the best content from the Australian startup community, more recently however it has turned into a media platform with the aim of improving coverage of Australian Startups, Founders and VC's.

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