Joe, the unique consumer App for “Buy Now Pay Later” disrupting (BNPL) 2021 industry

August 17 19:09 2021
By Mark Philipps

New York – 17th August, 2021 – Joe revolutionizes shopping by allowing splitting, with one click, any expense registered on the user’s bank account. Completely independent from the merchant and the bank, Joe allows the user to benefit, when desired, from a split payment in 3 monthly installments. Intended to smooth out any purchase between 100 and 3000 euros, Joe is a unique offer in Europe. It is aimed at all consumers who want to stabilize their budget in case of unexpected or impulse purchases. (And there are likely to be many of them).


Kevin Ohana & Yohan Elbase – Founder and President of Get Joe – getty 2021

A unique concept

While all players in “Buy Now Pay Later” market offer deals based on the merchant’s approval, Joe stands out by directly addressing the consumer: the app allows the user, when he or she decides to do so, to be reimbursed for the full amount of his or her purchase before spreading the payment over 3 installments taken at 30, 60 and 90 days.

The idea was developed by Kevin Ohana, CEO and former Product Specialist at UBS, and Yohan Elbase, COO, former Director of Mergers & Acquisitions at Haussmann Venture. After raising €1M from business angels, they launched Joe in private beta in late 2020. The app has begun to meet with great success, already claiming over 60,000 users in only 6 months.

“Joe meets the needs of many French people by allowing them to deal with unexpectedexpenses as well as to indulge in pleasure purchases: from car breakdowns to weekendsdecided on a whim, Joe finds its place in many everyday circumstances” precised Kevin Ohana; “In France, 6 out of 10 consumers already use fractional payments at least once ayear. But before Joe, there was no offer that allowed the consumer to do away withthe merchant’s authorization. We are the first in Europe to offer this short circuitwhere it is the customer who decides to use split payments in 3 times“, added Yohan Elbase

A 100% digital process

Available on all application stores, the Joe app has been designed to reconcile the security and fluidity of the customer journey.

Registration takes just a few minutes, which is all it takes to verify the customer’s identity and connect the application to the user’s bank account. The analysis of the profile is done automatically and almost instantaneously. The cross-referencing of personal information and banking data then allows to automatically grant a financing capacity, up to 3000 €, according to a proprietary “scoring” system.

For its co-founders, “Our scoring system aims to avoid any surprises or disappointments when using our application. It defines a spending limit that is proportionate to the client’s resources because we don’t want to encourage unreasonable spending. This is why Joe refuses to spread out certain sensitive expenses such as rent or loan repayments.”

The perspectives

While the reduction of sanitary constraints is going to relaunch shopping without constraints, Joe offer will attract a large target of consumers. Joe answers to those who intend to treat themselves by rediscovering the pleasure of shopping for fashion, decoration, and favorite objects. And also, to all those who wish to buy more products and services that they have been deprived of – travel, tourism, culture, leisure …

But Joe can also respond to temporary difficulties: Thus, according to a Panorabanques study, 51% of French people have been overdrawn at least once in the year 2020 and 38% are overdrawn every month, for an average amount of 375 euros.

According to a Harris study, in 2021, 32% of French people plan to use fractional payments more frequently. And Joe intends to play a key role in the growth of this market.

About Joe

Joe is the only application that allows users to split any expense on their bank account. Completely independent from the merchant, Joe revolutionizes shopping by allowing users to pay in 3 monthly instalments, whenever they want.

Developed by Kevin Ohana, CEO and former Product Specialist at UBS, and Yohan Elbase, COO, former M&A Director at Haussmann Venture, Joe raised €1M from business angels as  Jean-Baptiste Hironde (Founder @MWM), David Amsellem (John Paul), David Barbe (Luckey Homes, Acquired by Airbnb in 2019), Guillaume Lestrade (Founder @Meero), Salomon Aiach (Facebook, ex-Goldman Sachs NY) ou encore Jean- Marc Bouhélier (Photobox, Citygo, Zenchef…)

More info: @licornegulf2021

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