Clip Money

Industry
Tech
Status
Active
Founded

2018

Investment Date

November 2019

Headquarters

Toronto, Ontario

Executed by

Sallyport Investments

Clip enables businesses to make deposits to their existing bank account quickly, easily and securely through a national network of drop box locations in malls, big box stores, and grocery chains. There are over 2.75 billion cash deposit transactions happening every year serving all parts of the economy. However, banks are reducing or transforming their branch networks and increasing cash handling costs making it increasingly difficult for small businesses and consumers to exist in the digital economy. Clip increases access and lowers fees for all parts of the ecosystem ensuring everyone in the economy can be part of the digital money revolution.