A SCOTLAND-BASED online firm is aiming to raise £75, 000 in a crowdfunding drive to change the way people group collect.

As the country’s FinTech economy grows, GiftRound’s online platform offers UK and international businesses a simplified way to collate group collections for staff members’ birthdays and special occasions.

The cashless online group recognises the problems faced by current collection methods. The company hopes to address these problems with its service.

According to Stephen Ingledew, chief executive of FinTech Scotland: “GiftRound is an ideal example of what FinTech is.

“Thanks to the blend of their technology and data, their innovation has the potential to make a big difference to the way people live their lives and access money.”

A year after the the business handled more than 4250 contributions into various group collections for gifts, it is continuing to grow by, on average, 25% each month.

GiftRound was also recently recognised as one of the top 10 ‘‘best and brightest businesses currently growing within an RBS Entrepreneur Accelerator’’.

The firm’s ambition is clear as it looks to expand into the £600 million-a-year wedding gift market, and win sales from the annual 220,000 collections for primary school teachers.

Founder and CEO Craig Forsyth said: “Since our launch in June 2018, and after a six-month period of concept testing, GiftRound has gone from strength to strength. We’re now looking to improve the user journey of the GiftRound platform by integrating a GiftRound Store to provide customers with a seamless experience.

“We are looking to grow our brand presence and reputation for quality service for everyone that wants to organise a group collection to buy a gift.”

Current collection processes take between two and seven hours of a staff member’s time according to research carried out by GiftRound and the group’s vision provides a manageable way avoid these setbacks.

The details of this vision can be found at www.giftround.co.uk/how-it-works and you can donate at www.crowdcube.com/giftround