The Blockchain movement is a significant milestone in the progression of capitalism and the wider internet— here is your chance to be a part of it! FinBlocks, a new FinTech start-up, is a payments and compliance system helping the traditional financial service sector leverage the benefits of Blockchain. They are one of the first companies to develop a world-class software which will result in better compliance, security, and more efficient data management in the crypto space.
Bridging traditional financial services and the crypto world
The service will be marketed and sold to other financial service companies: initially, digital payment systems, crowdfunding platforms, robo-advisors, wealth managers, and peer-to-peer lenders are all business that will form our client base. We will then look to support larger financial service companies such as banks. We have modelled our projected success on what separates us from our competitors, such as MangoPay, a client funds management system, or CheckVault, an escrow system. These platforms aren’t built with a BlockChain at their core and so their technology is soon to be obsolete, therefore creating an opportunity for us to provide superior technology. What makes us unique, then, is our ability to offer future-proof services while supporting more traditional sectors and over the longer term will operate like a Blockchain enabled business bank.
The business will generate revenue through a transaction fee for funds in the system, plus a set-up or on-boarding fee. We aim to generate on average £6,000 per client on an ongoing basis. The system will be further improved to potentially be a full crypto exchange and payments system similar to ‘Circle’, a new Goldman Sachs crypto start-up that just raised $110m.
This new technology benefits financial services and the customers who use them because their data is less vulnerable when replicated numerous times in a decentralised system. It also promises to be a healthy investment as we predict that our client base will grow to 150 financial firms; this is when investors will be repaid as FinBlocks sells the technology into a larger institution such as a global investment bank. In the future, we will develop this into forms of currency. This is a great time to invest exclusively on Crowd2Fund as we continue to evolve the financial sector.
Where will the funds go?
T-shirt and launch event
VIP attendance to Global Blockchain conference
Be a FinBlocks advisor
Got a question for the business?If you need more information from the business then you can ask them a question directly.
Please note that the business owner won't be able to answer your questions until the campaign goes live.
A. The founders of FinBlocks own the remainder of the company currently. However, we expect to bring on additional partners and investors as the firm grows.
A. There aren't many companies focused on Crypto compliance, which is where we believe there is a huge gap and opportunity. Revolut and Coinbase have very different customer propositions to the business-to-business service FinBlocks will be offering. We aim to help modernise the financial service sector through BlockChain.
A. The target valuation is £300m over a number of years. As a start-up it is very difficult to forecast valuations however we believe with the growing market, demand and ambition of the team this can be achieved.
A. The minimum investment is £5000 to ensure that the number of investors is managed as 300 potential investors becomes too many investors to manage, especially with a business to business platform. We hope you decide to invest.
A. The appropriate resources will be put in place to ensure both companies are run and managed correctly. Chris’s involvement will mainly be required at the start to kick-off the project but plans to oversee both companies with the support of a management team with the correct skills.
A. The target market for the service offered by FinBlocks is significant. The clients will be online marketplaces and other crowdfunding platforms initially. Crowd2Fund will potentially use FinBlocks and will benefit significantly as fees will be lower than the current 3rd party payment provider and better security, in addition to giving Crowd2Fund crypto capability in the longer term.
A. We are looking to launch the campaign over the next week or so. We are just waiting to hear from our accountants with regards to SEIS pre authorisation.
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"Bridging traditional financial services and the crypto world"
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