Limbo was born out of seeing a need for a solution to the online transaction problems of fraud and scams, mainly seen through currently unregulated platforms such as Facebook Buy and Sell pages and Marketplace.
Most New Zealanders have been frauded or know someone who has. We believe that Facebook provides a great space in selling things online outside of the fraud issues.. So we set track to find a solution!
Similar services (which are called escrow services), are usually either focused on International or high value transactions, which generally means higher risk, legal complications and fees. So we looked to create a service that was focused on low value transactions (Under $10,000) and only for use in New Zealand to keep the operating costs down.
So on Tuesday the 17th of August 2021, the founder Daniel put the call through to Deepsouth Technology, when what started as just an idea, quickly became a viable solution. With New Zealand entering level 4 lockdown the very next day (unknowing to them at the time of discussion). They used the time at home to get working on what is changing the way New Zealanders transact with each other online.
The saying goes, “when buying things online, don’t give the seller the funds until you have the item in your hands”, and that idea is exactly what Limbo was built from. Made by New Zealanders, for New Zealanders.
We would like to thank you for checking out and/or using our service. Because our fees are so low, we built Limbo with a community spirit in mind to make it affordable for everyone. Which means instead of covering costs from just a few users paying more, we rely on support from the New Zealand whānau as a whole to keep Limbo innovating, progressing and expanding, so we thank you for your support.
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