equityEquity
Capital at risk
£10.0m
Valuation
3.0%
Equity share
Capital at risk
Minimum investment is £5,000
Ownership share

FinBlocks is a next-generation digital ledger and payment provider launched earlier this year, which is already generating revenue. FinBlocks offers a world-class Software as a Service (SaaS) for companies looking to hold their users’ deposits in a secure and compliant way, while protecting from losses caused by money-laundering and fraud. They are seeking investment to continue to develop this state-of-the-art software, implement blockchain technology, grow their sales team, and undertake a £200m per year partnership agreement they hope to sign soon.

Enabling blockchain for the financial sector of tomorrow

FinBlocks was founded in 2018 in reaction to the evolving nature of financial services, with an emphasised reliance on technology becoming more prevalent. It’s clear that a fully-regulated, UK-based e-money service is required to stay ahead of the curve in an ever-changing market. Globally, the payments market is currently valued at approximately $2.9 trillion; but as the market becomes more advanced and sophisticated, so too does fraudulent financial activity. Therefore, FinBlocks provides state-of-the-art e-wallet services that allows pay-ins, inter-wallet transfers, and withdrawals, all via an API. This is a similar back office capability to Monzo, TransferWise, or Revolut, but enhanced as we will leverage blockchain technology to provide a compliant, real-time audit capability, as well as enhanced accuracy and security with each transaction.

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. We are hoping to sign a £200m per year partnership agreement soon.

Our plans for the future involve initiating our second phase of growth, expanding our sales team, 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 £300,000 of shares to investors for 3% 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.

X

Equity - product type
Maximum
£ 300k
Raised
£ 217k
Investors
28
Estimated close date
Completed

Where will the funds go?

Enabling Blockchain capability
£37,500
Deposit account capability
£37,500
Ability to issue debit cards
£37,500
Improved client dashboards
£37,500
Internationalisation
£37,500
Enhanced anti-fraud
£37,500
Live facial, voice, and biometric ID
£37,500
Ongoing regulatory approvals
£37,500

Key people

Chris Hancock
Founder
Mike Hughes
Chief Engineer
Cosmina Palade
Engineer
Simon Rae
Designer
Red cup

Investor rewards

T-shirt and launch event

If you invest £5,000 - £9,999
Get an exclusive, limited edition FinBlocks T-Shirt and get invited to the launch event with other investors.

Early stage investor

If you invest £10,000 - £49,999
Become an early stage investor, receive regular company updates, and learn how to build a Blockchain company. Access exclusive company R&D work to learn about the new sector. Plus the above.

VIP attendance to Global Blockchain conference

If you invest £50,000 - £99,999
Come along with the FinBlocks team to the Global Blockchain event either in Malta or Singapore. Be part of the early stage team and help shape the company. Plus the above.

Be a FinBlocks advisor

If you invest £100,000+
Sit on the informal advisory board for FinBlocks and help shape the future of the company. Plus the above.

Got a question for the business?

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A. This investment does not currently qualify for EIS tax relief

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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Business brand

London, UK

"Enabling blockchain for the financial sector of tomorrow"

Incorporated
1 years, 7 months
Investment strategy
Target valuation
£50,000,000
Target share value
5.0x
 

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.

Investments like these involve risks including loss of capital.
Please see our risk section before making an investment decision.

Risk warning

Investments like these involve risks including loss of capital. Please see our risk section before making an investment decision