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With international trends shifting away from the big banks and more towards consumer focussed options, Melbourne based start-up, Pelikin, has launched their product in Australia and is revolutionising the way we spend and manage our money whilst we are overseas.
Pelikin is a prepaid VISA card that pairs with an easy to use smartphone app, allowing users to pay in multiple currencies around the world – without having to pay any transaction fees. It also gives users the ability to split bills with friends (in multiple currencies), manage travel expenses and budgets, swap funds between currencies, freeze a lost card and more – all from within one app.
The formation of the Pelikin concept comes from an all too familiar travel story.
Pelikin was founded by young entrepreneur Sam Brown, a very passionate and experienced traveller. Sam came up with the idea for Pelikin on a trip to Croatia several years ago when his travel provider wrongfully identified suspicious activity on the card and blocked his funds, leaving him cashless and forcing him to continuously borrow money from the people he was travelling with. This obviously caused huge issues both whilst overseas, and then working out the conversion rates to pay them back the right amount (and associated fees) when he was home.
After hearing the same story from many other travellers, Sam decided that he wanted to give Aussies the freedom of spending and managing their cash the same way abroad as they would at home.
To get the app off the ground, Sam raised close to a quarter of a million dollars via a crowdfunding campaign and the Pelikin vision started taking form.
Like himself, Sam’s team are a group of likeminded millennials who are incredibly forward thinking, with the average age at Pelikin HQ only 28.