sQuid is a next generation brand founded, funded and grown from nothing by Nucleus. Conceptually, sQuid is a fintech company focused on building digital communities around a smart transactions platform that supports payments, remittance, micro-finance and education. Currently used in UK schools and universities, it supports digital communities in Kenya, Somalia, Nigeria and Mayanmar.
Nucleus created the business concept, business model, name, brand identity, customer portal, merchant and admin portals and all marketing and advertising. Nucleus remains largest shareholder.
The name ‘sQuid’ began as a play on the word ‘quid’ – slang for a pound. To accompany this, a supporting visual language and identity with a distinctive Q symbol, which is trade marked along with the name and tag line in key markets around the world.
During 2008 sQuid launched its payment system in Bolton and Dundee, completed trials in two secondary schools and launched a Coffee Republic branded Payment and Loyalty card. 2009-10 witnessed rapid expansion of services nationwide, including schools and transit contracts. sQuid was awarded the Frost & Sullivan award for European Smartcards Market Penetration, which acknowledges outstanding industry achievements and demonstration of best practices.
sQuid currently serves 600,000 users around the world, growing to 4.5 million by 2023.