As financial services undergo rapid transformation, the demand for a forward-thinking, UK-based e-money service and client money custodian is growing. FinBlocks meets these needs by providing world-class e-wallet services for companies looking to hold client funds in a secure and compliant way, protecting against money laundering and fraud. Entering into their second phase and now generating revenue, FinBlocks will focus on expanding anti-fraud capabilities, obtaining regulatory permissions, plus implementing blockchain technology.
Enabling blockchain for the financial sector of tomorrow
Since our last raise, we’ve reached some significant milestones. Significantly, we began trading with our first client in March and, since going live, have logged over £6 million in pay-ins and over £4 million in pay-outs, totalling an average of approximately 3,000 wallet-to-wallet transfers per day. Consequently, we’re now generating revenue at an average of around £7,000 per month. Compliance is central to FinBlocks, so another aim of ours was to obtain regulatory permissions. We’ve taken the initial steps to put these in place, having submitted a small Electronic Money Institution application to the FCA in early May. Once authorised, this will enable us to on-board clients, with the hopes of reaching £16 million per month in transaction volume over the next 12 months.
Our plans for the future involve initiating our second phase of growth, with our product and compliance roadmaps in place. We will focus on further future-proofing the system through blockchain and anti-fraud measures, such as live facial and voice recognition, and securing additional compliance certifications. When this is achieved, we can then explore exciting functions like advanced anti-fraud algorithms and Open Banking to further develop our service. Finally, internationalisation is at the forefront of our minds, via the Global Financial Innovation Network (GFIN).
With this round of funding, we’re offering £500,000 of shares to investors for 5% of the business. This is based on the expected growth of the business to £400 million in transactions generating £1.2 million in revenue and achieving a much higher valuation – we would hope to achieve this within 24 months. Our exit strategy is to sell the business to a much larger organisation. This is therefore a fantastic opportunity to own part of a financial service shaping the market of tomorrow.
Where will the funds go?
T-shirt and launch event
Early stage investor
VIP attendance to Global Blockchain conference
Be a FinBlocks advisor
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A. We are looking to launch the campaign next week after finalising the campaign and speaking with existing investors. The minimum investment amount is £5,000. Thanks for your interest.
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"Enabling blockchain for the financial sector of tomorrow"
The target valuation is not a target return on your investment but simply indicates the desired and forecast growth of the platform. If the target valuation is achieved then your shares would need to be sold at this valuation for you to realise the investment.
Please see our risk section before making an investment decision.