As of the beginning of 2024, Qpay’s net worth is $ 10 million. Also, the company has approximately $ 10.5 million in annual revenue, according to the 2021 records. In May 2018, Qpay appeared on Shark Tank Season 04, episode 13 of Shark Tank Australia, and made a deal with Steve Baxter and Naomi Simson for $380,000 for 8.4% equity. So, Steve Baxter and Naomi Simson have made over $ 840,000 through Qpay for an investment of $380,000. Also, the company will still be in business in January 2024. Let’s find out how it has reached this success over the years.
Qpay Net Worth 2024
| Net worth | $10 million |
| Annual Sales Revenue | $10.5 million (In 2021) |
| Profits | – |
| Lifetime sales | – |
| Investor | Steve Baxter and Naomi Simson |
| Founders | Andrew Clapham, Moe Satti, & Zakaria Bouguettaya |
| Employees | 1-20 employees |
In late 2015, the founders secured AU$400,000 in initial funding from investors like Blackbird Ventures, Artesian VC, and AngelCube.
When it appeared on Shark Tank, QPay was expected to facilitate $10 million in payments yearly, up from $5 million in 2016.
Now, the company is worth $10 million in 2024.
Qpay Sales And Revenue
QPay received AU$400,000 from investors, including Blackbird Ventures, Artesian VC, and AngelCube, in 2015. They won AU$ 50,000 and got mentoring from Steve Baxter of Shark Tank 2017. By then, they were expected to make AU$ 10 million in payments yearly.
They got more investment, of AU$570,000, from Sydney Angels in 2018. With this, they launched a QPay debit card with over 5,000 people on its waiting list.
QPay made $220,000 from handling $10 million of transactions in 2017. This means they kept about 2.2% of the total money exchanged.
At the start, 150,000 students used QPay in the U.K. and Australia. Soon after, they got AU$ 620,000 from Sydney Angels and Followingly, they got AU$ 380,000 from Shark Tank Steve Baxter and Naomi Simson.
Net Worth Timeline
| Net Worth 2024 | $10 million |
| Net Worth 2023 | $9.5 million |
| Net Worth 2022 | $9 million |
| Net Worth Valuation 2018 after appearing on Shark Tank | $4.5 million |
| Net worth valuation 2018 before appearing on Shark Tank | $4.5 million |
How Much Did Steve Baxter and Naomi Simson Make From Qpay?
Steve Baxter and Naomi Simson invested AU$ 380,000 for 8.4% shares. So, as the company has managed to maintain AU$10 million for years, the investors have made over $840 000.
As the company is growing, the exact earnings of the investors have not yet been disclosed to the media.
Competitors Of The Qpay
Among many online payment methods, Sprinque, Butn, Incomlend and FlexiLoans are the competitors.
Don’t miss these products from Season 04
Qpay Shark Tank Update
| Company name | QPay |
| Product | Student marketplace and payments app |
| Episode | Season 04 Episode 13 |
| Founders | Andrew Clapham, Moe Satti, & Zakaria Bouguettaya |
| Asked For | $380,000 for 8.4% Stake |
| Final Deal | $380,000 for 8.4% Stake |
| Shark | Steve Baxter and Naomi Simson |
| Location | Sydney, New South Wales, Australia |
Qpay received $ 380,000 for 8.4% equity from Steve Baxter and Naomi Simson in Shark Tank.
However, Clapham left his director role at QPay in 2018. Then Muhammad Satti took over the post and now leads the business with Bouguettaya. Followingly, they expanded QPay into New Zealand between 2019 and 2020, with one in five Australian students using the app.
In July 2021, QPay raised AU$1.15 million from 745 investors through Birchal, surpassing their AU$500,000 goal. They also partnered with Aussie Neobank Volt to help students save money. Using some of the funding, they launched in Canada in September 2021.
This brings their total fundraising efforts to $2.7 million over six rounds. At Shark Tank, Qpay was valued at 4.5M$ and In 2021, the company made $10.5 million in revenue. The Qpay worth in 2022 is expected to be around $10-15M
There are rumors that QPay might expand into the United States.
What Is Qpay?
Qpay is a platform created with the intention of making a more convenient space for students & societies across Australia. Their website says, “We’re here for students, societies, and unions to facilitate the interactions that make campus life memorable.”
Qpay helps millennials to perform smooth banking with a debit card as well. This app goes beyond traditional banking methods, making it fun to use. At the end of the week, Users will know how much money they have to have fun with, like going out and on luxuries, and how much money they have to spend on essentials like rent and textbooks.
What’s so special about it? Qpay is not just another debit card. It comes with an app, too. This app helps students to manage & organize their funds in a more fun way.
Qpay has a marketplace app, too. It will allow the users to buy & sell used textbooks & other stuff as well. This helps the students sell tickets & merchandise during their university life.
By the time they appeared on Australian Shark Tank, They claimed that they had over 150,000 students using this app.
Qpay Founders
According to the Shark Tank Australia episode, the three founding members of Qpay are Andrew Clapham, Moe Satti, and Zakaria Bouguettaya. Zakaria is the CEO of the company. The company was started in 2014 & has been thriving as a business since Zakaria was just 27.
Bouguettaya and Clapham met while studying at Australia National University and started an app development business.
“I had a job interview at the ATO and I missed my bus because I didn’t know when it was,”
Bouguettaya in shark tank pitch
FAQ
Yes, Qpay is still in business in 2024
Qpay’s net worth is estimated to be $10 million.
According to the data released in 2021, Qpay has $10.5 million in annual revenue.
Besides the other investors from several funding rounds, Steve Baxter and Naomi Simson invested in Shark Tank.
Zakaria Bouguettaya is the company’s current CEO.
