bidweg.com raising £100,000 investment on Crowdcube

Bidweg Ltd wants to help solve the often over-looked unused/wasted holiday money market. It is aiming to create a Peer 2 Peer community platform bringing sellers/buyers together to exchange their unused currency disrupting traditional traders and delivering strong rates to both sellers/buyers

Source: bidweg.com raising £100,000 investment on Crowdcube

  • UK households on average return with £110 of holiday currency.
  • An alternative method to traditional sell and buyback methods
  • Efficient model as sellers likely to become buyers
  • £2.9bn of currency hoarded, £1bn wasted, market value est. £4bn

Idea

Up to £2.9bn of foreign currency is stored in jam jars at home. A further £1bn is wasted at foreign airports by returning British holidaymakers, which creates a market estimate of £4bn in the re-exchanging of currency. The apathy may be attributed to terrible buy-back rates and hidden fees. Globally over 1 billion travellers return with a proportion of $571bn exchanged every year, UN Travel Org 2015.

The Bidweg solution is to develop a community-based Peer 2 Peer trading platform for unused currency, challenging and disrupting traditional methods of currency conversion by bringing together sellers & buyers to exchange at their own rates with bidweg.com taking a commission to facilitate the process.

Yr1 focus is pre-revenue Seed investment to develop, market and launch the UK platform in 2018.

A study developed through Survey Monkey driven by a Facebook campaign indicated that a focused digital marketing campaign concentrating on a transparent community approach could lead to growth assisted by the organic sales patterns of sellers returning as buyers and vice versa.

In addition to crowdfunding, the company has applied for grant funding of £18k alongside loans of £20k.

The company will be applying to the FCA to enter the Regulatory Sandbox program, to identify what authorisations are required, applications open in Summer 2018.

Team

Shon Alam – Founder/Director

Shon Alam is taking the lead in driving the company toward market launch. It is the concept of bringing buyers and sellers together to exchange unused currency and giving the consumer a better all-around deal that remains his passion.

Mr. Michael Winslow – Non-Executive Director

As Non-Executive Chair, Michael brings leadership qualities at a senior level whilst working for such companies as Lend Lease PLC, Energis PLC and Cable + Wireless as well as an Interim NED for The Royal Berkshire NHS Foundation Trust.

Greg Mizon – Non-Executive Director

Greg brings a wealth of experience from the banking sector, as Chief Risk Officer, and International Manager with the Commonwealth Bank of Australia (Regulated by the Financial Services Authority). Then had a stint with Moody’s KMV as Regional Director of the Credit Strategies Group. Greg is also currently acting as an NED to AJG Futures Ltd.

Jane Herbert – Non-Executive Director

Jane has been a director of Pilotmax Communications, a PR and Reputation Management company, for 27 years. Jane set up Pilotmax Communications in 1991 offering a full Public Relations service. Jane is now using her experience to provide advice and develop the marketing strategy for Bidweg.com.

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Ryanair pilots to strike before Christmas – BBC News

Ryanair passengers face disruption to their Christmas travel plans after pilots and crew announced industrial action in a bid to win union recognition and better conditions.

In Ireland, 79 pilots based in Dublin will strike for one day on 20 December.

The airline, which does not recognise unions, said they represented about 28% of its Dublin-based captains.

Meanwhile, Ryanair pilots and cabin crew in Italy plan to strike for four hours on 15 December.

The airline said last week it would “ignore” the Italian move, claiming staff rarely heeded calls to walk out.

Pilots based in Portugal and Germany also plan industrial action.

Cockpit, the German pilots’ union, said its Ryanair members would strike for better pay and conditions if the airline refused to begin talks, but vowed not to disrupt flights over Christmas.

Ryanair said it would “not deal with or recognise” the German union “regardless of what action – if any – takes place”.

Unions have long argued that their airline fails to offer pilots the same pay and conditions as its rivals.

Impact, the Irish pilots’ union, said the dispute was “solely about winning independent representation for pilots in the company”, said official Ashley Connolly.

The union warned of further strikes if Ryanair failed to reach agreement with its members.

“Ryanair will deal with any such disruptions if, or when they arise, and we apologise sincerely to customers for any upset or worry this threatened action… may cause,” the company said.

It said the Dublin staff who planned to strike were a “small group of pilots who are working their notice and will shortly leave Ryanair, so they don’t care how much upset they cause colleagues or customers”.

Analysts at Goodbody said although there were deep divisions between pilots and Ryanair management, the “headlines are worse than the reality on the ground” they wrote in a note.

In September Ryanair said more than 2,000 flights would be cancelled this winter after it rearranged pilots’ rosters to comply with new aviation rules.

Later that month it announced 18,000 further flights would be cancelled over the winter season, affecting more than 700,000 passengers.

Ryanair chief executive Michael O’Leary wrote to its 4,200 pilots to apologise for the changes to their rotas and urged them not to leave the airline.

However, this week it warned Dublin pilots they would lose agreed benefits by striking.

Many of the airline’s pilots have joined unions following the cancellations, but Ryanair said it could legally decline to negotiate with them.

Some passengers face disruption after 79 Dublin-based pilots and others around Europe plan walkouts.

Source: Ryanair pilots to strike before Christmas – BBC News