Boof allows users to make bookings, spread their payments and make payments with cryptocurrency. Boof is leading the implementation of cryptocurrency payments in the United Kingdom.
Tell us about yourself?
I have always had an entrepreneurial and technical mindset, and have always shown interest in upcoming future technology. Despite being brought up in a lower class family, I got my first laptop when I was 12 years old, given my interest in programming languages and the future of blockchain – I have always been optimistic about the future of blockchain.
My interest in these areas slowly deteriorated as I entered my mid-teenage years – however this interest came back when I turned 18. Initially, Boof’s sole purpose was to be a cryptocurrency payment gateway, for all businesses, however after taking in rejection after rejection from dozens of investors, I had to think different.
I had to change our whole business plan and model, and finally settled on a booking platform that allowed users to spread their payments alongside general bookings – which secured us a partnership with a leading BNPL provider (Klarna) – and as regulations for cryptocurrency and blockchain hit country after country, it didn’t hit the UK; which then made me think we should take the risk, and implement cryptocurrency payments into both our business plan and module.
Now we’re here, with over 8,000 users on our waitlist, and over 1,000 businesses ready to operate on our platform.
(More about myself: Despite being just 19 years old, I’ve been involved in a few up-and-coming companies, with extremely fast-paced environments – just to have a feel of what its like, and what I should prepare for. My most recent role was at a global takeaway startup as an Operations Manager/Coordinator – which I loved and where I had to manage over 2,000 employees (collectively) alongside other O/M’s.
If you could go back in time a year or two, what piece of advice would you give yourself?
I would have told myself to start sooner, and just do it; also to take more risks – especially when you’re young as you have the decades to fix any mistakes.
What problem does your business solve?
Boof is the only booking platform in the UK that allows users to spread their payments with businesses in the Hair and Beauty Industry, and Beauty and Medical Industry. We’re also the first, and only company out there that allows users to use cryptocurrency as a payment method in the UK
What is the inspiration behind your business?
The future of blockchain, and cryptocurrency is what inspired us. Also, the modernisation of convenience.
We all love convenience, and in this day and age – convenience is our main desire. I regularly get haircuts from my barber, and I used to have to walk 10 minutes to my barber to get a haircut; most of the time there was a queue.
This made me realise that if we made bookings, or saw availability and live traffic at these businesses, we wouldn’t have to call to make bookings, or walk up to the shop to see if there is a line.
Also, more and more people love the idea of cryptocurrency – and to be fair, it is a widely used payment method across the world – just not the primary method of payment, yet.
What is your magic sauce?
Our competitors don’t want their business partners to prosper. They offer high commission rates, and ridiculous subscriptions and listing fees.
When we list businesses on our platform, we want them to succeed. That’s why we take absolutely no commission at all on what they make (unlike our competitors), very low monthly subscriptions (cheapest in the game) and ridiculously low joining fees; we also have a wide range of unique, modern and game changing features for both businesses and users to use.
Our main advantage at this point, is that we allow users to pay for their booking with cryptocurrency, and also spread their payments.
What is the plan for the next 5 years? What do you want to achieve?
We’re currently building our waitlist, so we have a better chance of acquiring funding on our seed round. We plan to expand overseas, primarily in the US and takeover the booking industry, eventually becoming the leading booking platform across the world. We also want to me known for leading the implementation of cryptocurrency payments – once again, across the world.
What is the biggest challenge you’ve faced so far?
Biggest challenge was funding; it’s very hard to find investors interested in the blockchain industry when you’re just starting, and it was even harder 2 or 3 years ago, when there was very rare optimism in the industry and the movement.
How do people get involved/buy into your vision?
We’re currently building our waitlist (Join at BOOFAPP.CO.UK/WAITLIST), and we’re offering £100 Credit to some very lucky people. In terms of getting businesses listed, we’re don’t have to boast about anything – they just look at what we offer in comparison to what our competitors offer, and just go for us – even though we haven’t released our platform yet. In terms of investors, they just need to see the rapid growth of the industries we have mixed into our business proposition.