Queensland startup awash with success

Thu, 15/10/2020 - 12:15

In life nothing can be said to be certain, except death, taxes …and laundry.

For Queensland startup, Paypont, combining this necessity of life with a little innovation has led to a whole load of success!

Paypont have developed a tech solution for communal laundry machines. Compatible with any brand of machine, their industry leading technology provides a cashless payment system that allows customers to make instant mobile or card payments with a simple tap.

Paypont Founder, Kishore Aggarwal said what started as a simple backyard project in Brisbane has become a sought-after global success, thanks to the support of Advance Queensland.

“Advance Queensland has helped us achieve our vision of becoming a mass market provider of a modern cashless payment system for coin operated equipment,” Kishore said.

“In 2016, we were just a small company selling an innovative IoT micropayments solution from our backyard in Brisbane.

“We opened for business with just an idea, nervous about finding success, uncertain about our future and fearful of competition.

“In just four years, we have moved to a pole position in the market domestically and seen a huge demand for our product globally.

“Our innovative cashless payment products are now used by 80,000 people per month at locations across every Australian state and territory – from high street laundromats in city centres, to coastal caravan parks, to hotels in Tasmania and remote camps in the Northern Territory.

“Our products are highly sought after, and we have received frequent international enquiries for our products from countries including Estonia, Iceland, Portugal, Mexico, Italy, Germany and Vietnam.

“Last year, we opened for business in the USA and we now have customers in several states including hotel chains in Hawaii and we’ll soon expand our global operations to the UK, Canada and New Zealand.”

Paypont have participated in several Advance Queensland programs and in 2017 became recipients of Round 3 of the Ignite Ideas Fund – a grant that Kishore says helped Paypont scale their startup.

“Advance Queensland gave us the self-confidence to think big as a Queensland business in our formative years by offering the skills, resources and support to help us move from prototype to commercialisation and internationalisation,” Kishore said.

“Receiving an Ignite Ideas Fund grant helped us make bold yet calculated investments of time and money to rapidly innovate and get ready for mass market, domestically and internationally.

“We have also benefitted from attending workshops and networking opportunities at The Precinct, made possible because of Advance Queensland.

“Every event gave us more knowledge and more confidence to grow our Queensland fintech startup and it made us aware of the many benefits available to Queensland businesses to leverage for growth and success.

“We are a proud Queensland business and I have often felt we are the envy of many others outside the state due to this support uniquely available in Queensland.

“In the three short years of our association with Advance Queensland, we have already seen a rapid acceleration and maturity in the programs delivered that support small and innovative businesses in Queensland to succeed and compete on the international stage.

“I look forward to some Queensland unicorns emerging over the next five years, and for Queensland to be recognised globally as an innovation hub as more and more of the young companies receive strong support from Advance Queensland’s start to reach adulthood.”

Last updated 15 Oct, 2020
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