€25 million funding for money messaging app set up by Sligo man

Money messaging app Plynk, co-founded by a Sligoman, has secured €25m in new funding.

Headquartered in Dublin, Plynk was co-founded in 2015 by Charles Dowd and Clive Foley.

Clive is a native of Sligo Town and a past-student of IT Sligo.

He is Plynk’s chief technology officer.

Linked to users’ Facebook accounts, Plynk users can send money as a message to a single contact or in group chats instantly and with no fees.

They hope to turn the name Plynk into a verb, in that people will ‘plynk’ money to each other, as easy as sending a picture message.

The new funding round was led by a private investment trust.

Plynk has over 6,000 users across Android and iOS and is currently available within the Irish market.

It also has plans to expand further into Europe with Spain and Portugal its next targets.

The company employs eight people, but will create 20 new roles over the next 18 months.

Clive Foley has been telling Ocean FM about the app and what it does: