People’s Champion Finalist: CommuterClub The fintech start-up that wants to make your commute smarter and cheaper is vying for the People’s Champion title. Will it pass for your vote? Written by Megan Dunsby Updated on July 12, 2022 Our experts We are a team of writers, experimenters and researchers providing you with the best advice with zero bias or partiality. Written and reviewed by: Megan Dunsby Start-up name: CommuterClubFounders: Petko Plachkov and Imran GulamhuseinwalaStarted in: 2013Based in: LondonBusiness description: Peer-to-peer lending service for public transport ticketsShortlisted categories:Innovative Business of the YearTech Business of the YearThe CommuterClub story:After becoming frustrated at the cost of their London commute, entrepreneurs Imran Gulamhuseinwala and Young Gun Petko Plachkov decided to come up with a way to get a better deal on their commute.This idea would translate to become CommuterClub; a business which allows UK commuters to access the discounts of an annual season ticket but paid over monthly instalments instead; saving commuters £500 on average. Customer instalment plans are funded via a partnership with peer-to-peer lending platform Ratesetter and customers also receive a range of “extra perks” such as discounts for Uber and Fitness First.Intended to revolutionise the way commuters buy season tickets; a $5bn market, the financial technology (fintech) start-up has made major progress in the two years since it launched. It has seen its loan volume grow three times year-on-year, secured backing from Abellio, raised close to $2m in angel investment and crowdfunding, and has received a multitude of awards including Service Business of the Year at last year’s Startups Awards.In recent months, the business has expanded its offering nationally, launched a second rail product, and also created a product aimed at helping small and medium-enterprises offer benefits to their staff.Why CommuterClub made our 60:It’s easy to see CommuterClub’s appeal; a service which not only saves people money on their daily commute but also provides added benefits such as cheap gym memberships and taxi journeys. Having rolled-out the service nationally, the business expects to double its loan volume again in 2016 – growth projections which make it a deserving Startups Awards finalist.Where to find out more about CommuterClub:Website: www.commuterclub.co.ukTwitter: twitter.com/CommuterclubUKFacebook: www.facebook.com/CommuterclubUK Share this post facebook twitter linkedin Written by: Megan Dunsby