“Social fintech” from Greenville seems to make a night out a little easier
From dating apps to LinkedIn intros to Instagram DMs, a good portion of our personal interactions start today in the digital world. Brad Loflin and Roy Odima saw an opportunity to better facilitate digital introductions … and along the way created a new way of thinking about financial technology.
Loflin and Odima founded Tabbi as a social mobile app and fintech platform mixed together, which the team describes as a «social fintech». This addresses two main pains associated with going out for a night on the town: How can you best meet someone and how do you split the bill at the end of the night?
The term “social fintech” came into being when Loflin and Odima started thinking about what it would look like to bring people together based on location. The platform helps users find friends while they are out and then more seamlessly share the check at the end of the night.
Loflin is clear to distinguish that Tabbi does not share your position with other users at all times. Instead, position sharing is designed to allow for proximity messages between connections.
On the fintech side of the equation, Tabbi aims to make “closing a barefoot as easy as getting out of an Uber,” Loflin added. That means eliminating back and forth by handing your card over to a bartender or waiter at the end of the night to pay a tab.
It helps restaurants work through operational challenges and post-pandemic pain points. For restaurants, the platform eliminates eating and dash problems, streamlines back and forth by swiping credit cards for multiple people in a group, and creates a completely contactless experience.
Tabbi integrates with various POS systems and is free for bars to use. It adds a nominal transaction fee to the users.
Loflin said the team is looking for restaurants and bars in Greenville and the Southeast first, along with “go out” and young adult audiences who want to connect with people in their city.
Get social in Greenville
Loflin and Odima previously worked in the restaurant business area, and both independently ended up in Greenville for jobs years ago. The idea was first hatched in the summer of 2020, but the current iteration of the social fintech platform was born in May 2021.
Building something like Tabbi in Greenville provides a unique opportunity for the early fintech platform.
Loflin said that a small town like Greenville allowed Tabbi to move “a little incognito and refine the product with a rather forgiving group of people. It’s different than launching a product in San Francisco where everyone has seen 1,000 startups and where they are a little tired of it. “
The team has been “heads down” building the product, raising capital and preparing for the launch of the iOS app store this summer. But they have practiced what they preach, so to speak, by being social and introducing people to local bartenders with the Tabbi Hour Podcast.
