Platform launched to help clean up the equestrian industry
Two female co-founders have vowed to clean up the equestrian industry with the launch of Equiyd, a platform that creates the start of a horse’s digital footprint and allows safe and secure sales for buyers and sellers.
Cheshire based duo Michelle Lea and Claire Spencer believe the platform is the first of its kind, with the sole aim of protecting buyers and sellers with transparent horse history, digital vetting records, secure payment solutions and comprehensive insurance support.
“The idea was born at the side of the showring” explains Michelle. “We’ve both bought horses seen and unseen, from the UK and abroad. You put so much faith in the seller to be honest in their communications; you’re literally handing thousands of pounds over to somebody you’ve never met.”
“There’s a reason why social media channels are littered with ‘dodgy horse dealer’ groups and tales of transactions gone wrong, not to mention the welfare issue of horses being mis-sold and medical conditions not being disclosed. The equestrian industry can do better, and we’re hoping Equiyd will be the start of that.”
Equiyd checks and authenticates everyone in the purchase process, and the comprehensive horse profile includes all the key information so buyers can be confident of the background and credentials of their pending purchase. The unique algorithm creates a transparency score for additional confidence.
“The key feature is a profile that stays with the horse,” says Claire. “Everything these days has a digital footprint, so this is the start of a horse’s digital hoofprint. If the horse is sold later down the line, the profile transfers to the new owner and they have a full history of the horse that’s been verified.”
“Communications are all done securely within the platform, from arranging the vetting and paying the deposit, to the final balance payment and arranging of delivery or collection.”
The platform also hopes to eradicate the most common disputes: “Buyers don’t have to use the vetting feature”, explains Claire. “But if they did, and the vetting failed, the buyer deposit is automatically returned, rather than having a cycle of chasing funds. This is the platform we wished was available when we bought our own horses.”
Buyer behaviour has changed rapidly in recent years. More transactions are made via credit card or PayPal for added protection when purchasing goods or services (over £347 million in Jan 2024*) Michelle and Claire are aiming for Equiyd to lead the way with safer horse transactions that the equestrian community deserves, offering the same level of transparency and payment protection.