21st November, 2022
Plutus is a finance app with a Visa Debit Card that gives customers up to 8% of every purchase back in Pluton (PLU), the world’s first crypto rewards token. Plutus users can also access 20+ Perks including Netflix, Spotify, and Prime.
An accompanying finance app allows users to manage their fiat balances and crypto rewards.
Plutus was founded in 2015, making it a veteran in the crypto industry which is relatively new. Plutus is a London-based FinTech that operates throughout the UK, EEA and, soon, the United States. It has acquired 100,000+ customers and currently contains ~30 employees.
Summary of relationship and services supplied by Haggards Crowther
Haggards Crowther is Plutus’ UK Accountants.
Haggards Crowther manage employee payrolls and company yearly accounts, as well as verify the rewards issued to cardholders.
What particular challenges have Haggards Crowther help you to overcome?
Every time users spend with a Plutus Card, they earn between 3-8% of the purchase value back in Pluton (PLU), the first decentralised rewards token.
Plutus’ decentralised reward programme is a staple part of its product offering. Transparency and integrity of this reward programme are essential for both the company and its customers.
The crypto industry is unregulated and therefore attracts a higher number of malicious actors than traditional markets. As a result, trust in crypto companies is at an all-time low.
Plutus wanted to set a precedent and distinguish itself from the bad apples by showing publicly that it has issued rewards to its customers legitimately.
This was difficult as Plutus works with several third parties including banking service providers and much of its transaction data is proprietary.
How can Plutus be transparent about the rewards issued without revealing confidential data?
Plutus used its third-party accountants, Haggards Crowther, to verify that the card transaction data and every token allocated to customer accounts were correct, without having to reveal confidential data to the general public.
What are the benefits of using Haggards Crowther?
Haggards Crowther is highly professional at their work but has also maintained a personal touch throughout its partnership with Plutus.
“We’ve been working with Haggards Crowther since 2016. I have always been impressed with their thoroughness and professionalism while always maintaining a very personal service to our company”
Jasper Tay, COO and Co-founder, Plutus.
“It’s great to work with such an innovative and dynamic brand which is breaking new ground in the crypto-rewards market”
Hamid Mahmood, Haggards Crowther