Gyphto is an innovative, environmentally friendly, Group Gifting app disrupting the GBP100bn+ UK gift market.
We are obsessed with changing the way we give and receive gifts and we are on a mission to make unwanted gifts a thing of the past.
The gifting process is flawed. Just think, have you ever given anybody a cash gift and wondered what they bought with the cash? Or you may have arranged an office collection for a colleague’s leaving-do but the brown envelope is not discrete and is open to fraud. You may have wondered how to send a cash gift to a relative or colleague from another country or office and felt alienated as geographical barriers mean you can’t be involved. Perhaps you are getting married and just want to save up for that very expensive perfect gift instead of getting lots of low valued presents.
Further, gift wastage is a big environmentally problem around the world. Last year USD16bn was wasted on unwanted gifts in the US last year, and GBP1bn in the UK. Further, 18% of the value of a gift is lost when a gift is given as it is not valued as highly by the person giving the gift.
Gyphto is innovating the Gift Market. It’s a free to use App that streamlines the process of arranging group collections for gifts. Gyphto combines eCommerce with crowd-funding and social media ending ‘gift wastage’ and puts people in control of the gifts they want.
Through a host of leading features Gyphto will streamline and simplify the group collection and gifting process making it secure and transparent, while connecting unconnected gift givers in the process. By integrating with popular social media Gyphto let you invite your friends, family and colleagues to make a secure donation to an event such as a birthday, wedding, graduation, leaving do, baby shower etc. no matter where you are in the world overcoming geographical barriers.
The collection can be used to buy any gift online. All donations can be made online and will be held securely, not in a brown envelope. Further, in-app social media allows users to chart and discuss what to buy and share videos or pictures of the gift or the event (such as a party) creating an inclusive and transparent experience for everybody that has made a contribution. In-app social media also creates user lock-in and repeat use while optimising the App experience.
Gyphto is the easiest, fastest and most secure way to chip in money to buy group gifts. It eliminates the hassle of chasing people for contributions and ends unwanted and wasted gifts. In just 3 steps users can 1) create a collection, 2) invite friends, family and work mates to chip in and 3) buy the perfect gift all from within the app.
There is no need to visit another site to buy a gift as Amazon and other brands can be accessed from within the app. This allows Gyphto to collect data on purchases and user buying behaviours. Our brand partners will benefit from our data insights and this data can be used to increase revenues and to attract more brand partners.
Gyphto came about when Iqbal, our Founder and CEO, realised that, as they grew older, his children preferred one large meaningful birthday gift rather than lots of small ones. In addition, young people now prefer experiences and holidays rather than wedding gifts. As a result, there is a lot of gift wastage. As Iqbal researched into this he noted that in the UK over £1bn of gifts are wasted every year. Iqbal set about launching his own solution – Gyphto – to simplify gifting and to end unwanted gifts.
Keen to develop the idea further, Iqbal set about writing a business plan. With his background in management consultancy – which he left to focus on Gyphto – this was relatively straight forward task for Iqbal.
Strathclyde Entrepreneurial Network
With the business plan complete Iqbal was keen to meet potential investors. Het reached out to and met with Glasgow business magnate Shaf Rasul who was the entrepreneur in residence at the University of Strathclyde’s Enterprise Hub – part of Strathclyde Entrepreneurial Network (SEN). This is where Iqbal met his current developers, Ngage Technology. After a few discussions it was clear that Ngage had the capability to develop a Minimal Viable Product (MVP).
After joining SEN, Iqbal was introduced to business gateway which supported Iqbal’s application for funding to develop a Minimal Viable Product through a By Design Grant.
Strathclyde Business School
Also, while at SEN, Iqbal commissioned a number of research projects with the Business School students. Three teams of students undertook research on three aspects fundamental to Gyphto’s future:
- Promotional strategy – how to scale up and promote the App and raise awareness using low cost techniques through social media.
- Loyalty – How to increase App usage and introduce loyalty schemes
- Data – how to monetise data being generated by the App to improve customer experience and drive revenues.
The outputs of these research projects are being implemented today.
Supporting Young Interns
Early in 2018, Iqbal made a decision that, while the app is being developed that he wanted to build up awareness of the app prior to its launch. Iqbal decided to recruit marketing interns to start building Gyphto’s online presence.
Iqbal recruited two marketing interns (Alicia Miller & Hannah Leslie of the University of Strathclyde) to support and implement Gyphto’s promotional strategy comprising social media, blogging, competitions and raising Gyphto’s awareness at outdoor events.
Scottish Enterprise Growth Pipeline
In the summer of 2018, Gyphto’s business model, growth and international scalability was recognised by Scottish Enterprise. Gyphto has been accepted into the Scottish Enterprise’s prestigious growth pipeline portfolio which is an endorsement of Gyphto’s business model and growth capability and will serve as a launch pad to attract seed investment.
With the MVP nearly complete, Gyphto is now speaking to a range of high net worth investors and institutional investors to fund Gyphto’s early growth.
Gyphto’s team comprises successful entrepreneurs and business professionals highly experienced in finance, business strategy, marketing and technology. This team has the right blend of skills and experience to support Gyphto now and its future growth.
Iqbal Singh Bedi, Founder and CEO
Iqbal left his 22 year career in management consulting in 2017 to become a business leader in his own right. Iqbal’s career started in software engineering which eventually led into consulting. In his time he has been key note speaker at high profile events, has advised senior political figures on policy and has featured on BBC Radio Scotland and on the press a number of times.
Iqbal has always been commercially driven and considered as entrepreneurial and as a self-starter. He would regularly lead initiatives to drive sales. Iqbal is also a safe pair of hands that can be trusted to lead a high growth start-up. He has advised many CEOs and very senior government ministers on strategy, investment and policy. Because of his background Iqbal uses peer networks, defendable research and market trends to support his gut instinct.
Tom Willey, Advisor
A Californian based entrepreneur and board advisor with over 25 years’ experience in leadership roles and raising finance with start-ups. Tom has successfully exited a number of start-up businesses.
Andrew Doyle, Advisor
A technology consulting director with a background in app design and on operational aspects on app development.
Manjit Mooker, Advisor
Recently sold his health care app to Craneware for GBP 1.2 million and has relevant app development and exit experience.
Ngage Technology Ltd
Gyphto is supporting Scottish tech companies and is investing in the Scottish economy. Gyphto’s development team comprises Ngage Technology Ltd who were 2017 Young Edge winners.