Duesday, a Cornwall-based FinTech start-up, is already making a big impact abroad as it begins to export its services, with new investment and sales in Mexico.
Cornwall is an ideal location for businesses aspiring to succeed and grow across the world. There are more opportunities for Cornish businesses to export their services than ever before – whether it’s across the UK, or the rest of the world. And Duesday is rapidly turning into a major success story.
The Cornwall-founded start-up helps businesses of any size improve their payment interactions with customers. Their revolutionary platform enables simplified and automated cash flow processes, and makes it easy for customers to split bills and make recurring payments. After success across the UK, Duesday knew that Mexico’s lack of infrastructure for bill payments made it a perfect place to export the platform to – it just needed a way to get there.
A partnership for export success
Exporting to a new country isn’t easy. There’s a huge range of factors to think about, including cultural differences, logistics, market challenges, competition, and much more. And on top of that, it can be difficult to know where to start. Luckily, the Duesday team had the UK Department of International Trade (DIT) and Cornwall Trade and Investment on hand to support them.
Joining five other carefully selected ambitious FinTechs on DIT’s trade mission to Mexico, Duesday’s team visited Finnosummit 2019 – the leading conference for innovation on financial services in Latin America – to pitch their platform and meet potential investors.
Bringing the value of PayTech to Mexico
Duesday knew that simply taking its platform to Mexico as-is wouldn’t work, as mobile applications aren’t commonly used by Mexican citizens for financial services. Instead, the FinTech adapted its approach to offer the platform as an in-store service rather than an app; making it easier for citizens to pay recurring bills, and simplifying the sales process for businesses.
It’s an approach that landed the team huge success. Duesday returned from Mexico with an investment of over £1 million and has already sold more than 400 units of its platform to a retail chain in Mexico City – and that’s just the beginning. The FinTech is now looking to expand across other countries in Latin America, alongside continuing its focus on Mexico.
“The trade mission was a huge success for us,” says Marcus Kern, Co-Founder and CEO of Duesday. “It’s enabling us to grow faster than ever before – and ultimately, that means we’ll be able to create more jobs for our headquarters in Cornwall.”
Duesday’s team worked closely with Cornwall Trade and Investment throughout the entire journey – from producing marketing materials to securing funding for the trip – and it’s pushed their business to new heights.
“Exporting to new markets is a key milestone in any businesses’ journey,” says Nicola Lloyd, Director of Trade and Investment at Cornwall Trade and Investment. “Whether it’s offering financial support, or providing useful contacts, we help businesses think global—and ultimately create more jobs in the region.”
From dedicated funding and industry networks, to robust infrastructure and unique talent, Cornwall has the resources in place to support Duesday’s ambitions – making it the ideal base for international expansion.
Do you run a business needing payment automation? Duesday makes your cash flow. Spend less time chasing late payments and more time working with clients. Get in touch at www.duesday.com/business/contact-us/
If you are planning to export your services from Cornwall, but don’t know where to start, get in touch with the Cornwall Trade & Investment team today.
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