Investment thesis
- Small businesses spend over 137 million hours sending over £1 trillion of payments online – primarily payroll and invoices.
- The vast majority of SMEs have less than ten employees and no corporate banking function.
- Paying these invoices and payroll runs is a largely manual process and costs the economy billions in time alone.
- Comma is a native open banking bulk payment system that saves clients the tedious work of paying bills, salaries and taxes.
- Comma is initially being distributed through accountants who can set up payment runs for their clients and allow them to authorise all the payments in one click.
- Comma is also working with some of the largest bookkeeping platforms with the goal of becoming the Stripe for salary payments.
- Comma is one of the most exciting fintechs we have come across building on top of the existing open banking rails.
