Yetipay: 10 Key Things You Must Know

Overview

Yetipay is an innovative UK-based fintech company revolutionizing everyday payment processing for businesses, particularly in hospitality, retail, and services sectors. Founded in 2017 and headquartered in London, Yetipay emphasizes simplicity, speed, and reliability in its payment solutions, positioning itself as a nimble challenger to industry giants like SumUp and Worldpay. With a mission to "make the mundane magical," Yetipay transforms routine transactions into seamless experiences for both businesses and their customers. Its platform offers flexible payment tools, cutting-edge card machines, and unmatched customer support. As it rapidly grows, Yetipay is garnering significant attention and funding, carving a niche with a passionate commitment to user experience and operational simplicity.

1. Founding and Vision

Yetipay was founded in 2017 by entrepreneur Oliver Pugh, who aimed to transform payments from a dull necessity into a smooth, standout experience. Pugh, with over two decades of entrepreneurial experience, shaped the company with the mantra of “make the mundane magical.” The startup’s vision is to challenge larger payment firms not by competing on scale but through innovation, customer focus, and efficiency. This ethos drives their ongoing commitment to reducing complexity and enhancing the speed and reliability of payments.

2. Product Suite and Technologies

Yetipay offers an all-in-one payment platform that includes payment processing services and point-of-sale (POS) terminals designed for business environments like cafes, boutiques, restaurants, and service providers. Their technology supports a wide array of payment methods such as chip & PIN, contactless payments, and mobile wallets including Apple Pay and Google Pay. The Yetipay app allows businesses to track transactions in real time, manage refunds, customize receipts, and gain sales insights, all while maintaining PCI-DSS security compliance.

3. Funding and Growth Trajectory

Since its inception, Yetipay has experienced remarkable financial growth, supported by strategic funding. Notably, in 2025, the company raised £3.5 million through a combination of debt facility and equity investments. A significant portion came from Berlin-based fintech group re:cap, with backing from HSBC Innovation Banking and Avellinia Capital, alongside angel investors such as Paul Statham and Mark Blandford. This funding bolstered Yetipay’s ability to expand its platform and enhance its product offerings, contributing to a sevenfold increase in annual revenue.

4. Competitive Landscape and Market Position

Operating in a fiercely competitive payments environment dominated by giants like Worldpay and SumUp, Yetipay positions itself as an agile alternative with lower operational expenditures. It leverages a lean team and a customer-centric approach to deliver tailored payment solutions. Founder Oliver Pugh describes the company’s challenge as a "David vs Goliath battle," where nimbleness and innovation provide the edge over large incumbents laden with overheads.

5. Customer Base and Use Cases

Yetipay serves a diverse client base spanning the hospitality, retail, and service sectors. Prominent customers include Brewdog, Pho, and Grasso Soho—businesses that rely on swift, reliable payment processing to enhance customer experience. The platform is especially valued for its ease of use, rapid payments, and robust support structure, enabling small and medium-sized businesses to handle transactions and tips effortlessly while gaining valuable sales data.

6. Innovative Tip Collection Solutions

An important aspect of Yetipay’s product ecosystem is its pioneering work in digital tip collection. Together with TiPJAR, Yetipay developed the world’s first dedicated tip collection card machine which separately processes tips from transactions. This innovation addresses the global shift away from cash, empowering hospitality teams to receive tips more efficiently and transparently via major card networks and contactless payments.

7. Strategic Partnerships and Ecosystem

Yetipay's growth is also fueled by strategic alliances. Their collaboration with Berlin’s re:cap fintech group marked a milestone as Yetipay was the first UK company to benefit from re:cap’s €125 million credit facility. The partnership provides not only financial muscle but also valuable insights, helping the startup refine its offerings and accelerate expansion into new markets such as Italy, Spain, and plans for the US, Australia, and New Zealand.

8. Company Culture and Team Structure

Despite rapid growth, Yetipay maintains a lean and focused team, currently employing between 40 to 50 staff members. This approach allows for rapid iteration and close customer engagement. Key team members in design and product development work closely with users to ensure the platform remains user-friendly and adaptive to real business needs. This culture of agility and customer intimacy supports high user retention and product satisfaction.

9. International Expansion and Future Outlook

Yetipay has aspirations beyond the UK market, actively expanding across Europe and aiming for further growth in North America and Oceania. With annual recurring revenue reported at over €5 million and processing transactions exceeding half a billion euros annually, the company is scaling its platform and infrastructure to support this broader footprint. Future developments include further enhancing payment tools and introducing new products tailored to evolving business needs.

10. Customer Testimonials and Reputation

User feedback and reviews indicate strong satisfaction with Yetipay’s performance and customer service. Many users praise the speed of payment processing, the simplicity of the hardware and apps, and the highly responsive support team. Trustpilot reviews highlight personalized account management, easy onboarding, and ongoing assistance as standout features. This reputation has helped Yetipay differentiate itself in a crowded fintech landscape.

Conclusion

Yetipay exemplifies a modern fintech startup that combines visionary leadership, innovative technology, and strategic funding to transform the payments industry. By focusing on seamless user experiences, flexible payment solutions, and a lean operating model, Yetipay challenges large established players and supports businesses in streamlining their transactions. As it expands globally, the company’s mission to "make the mundane magical" continues to resonate, raising the prospect of reshaping how businesses and customers interact around payments in the coming years. Could Yetipay’s agile approach be the blueprint for the future of payments innovation?