Frictionless self-checkout firm and 2023 RTIH Innovation Awards winner MishiPay hits £3m target on Seedrs

MishiPay is raising a round on Seedrs. And one hour after investment opened last week, the company was 100% funded and hit its £3 million target from just 18 backers.

At the time of writing, it had reached £3,316,395 from 28 backers.

MishiPay’s self-checkout solutions are being used by 30 brands across 400+ stores worldwide, including Flying Tiger Copenhagen, MUJI Europe, Hudson, and Dubai Duty Free.

It is currently earning revenue in three ways:

B2B subscription; It charges retailers a fixed subscription fee per store per month.

Transaction fee; In order to monetise the value that it delivers behind every transaction, MishiPay charges the retailer a transaction fee as a % of the value of transactions completed using MishiPay.

Payment processing fee: MishiPay onboards retailers on its own marketplace with its preferred payment provider, aggregating volumes across retailers to get an attractive buy rate from the payment provider.

It says that it shares the benefit of this lower rate to the retailer and at the same time retains some of it.

2023 RTIH Innovation Awards

MishiPay emerged victorious in the Payments category at the 2023 RTIH Innovation Awards.

It picked up the gong at the 2023 RTIH Innovation Awards ceremony, which took place at the Barbican Centre in central London on Wednesday, 29th November.

The 2024 RTIH Innovation Awards are now open for entries. Click here for further details.

The awards celebrate global tech innovation in a fast moving omnichannel world.

This year, we’re bringing you three new categories: AI Innovation, Sustainable Retail Innovation, and Inclusive Technology Innovation.

Key 2024 dates

Friday, 25th October: Award entry deadline 

Tuesday, 29th October: 2024 shortlist revealed

30th October-6th November: Judging days

Thursday, 21st November: Winners announced at the 2024 RTIH Innovation Awards ceremony, to be held at RIBA’s 66 Portland Place HQ.