Editing ApTap
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* We building a simple platform that empowers users to instantly compare, switch and signup to services in a matter of seconds, not hours. | * We building a simple platform that empowers users to instantly compare, switch and signup to services in a matter of seconds, not hours. | ||
* Our simple set of APIs can easily be plugged into any bank, FinTech, platform or application as a white-label product. | * Our simple set of APIs can easily be plugged into any bank, FinTech, platform or application as a white-label product. | ||
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* We signed 3-year contract with TSB Bank and launched with 5,000,000 customers in April. | * We signed 3-year contract with TSB Bank and launched with 5,000,000 customers in April. | ||
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==Investment Interview== | |||
==Investment Interview | |||
'''Explain what your venture does.''' | '''Explain what your venture does.''' | ||
We integrate open banking and data from your service providers in a simple APIs plug-in that makes it easy for banks to offer bill management tools to their customers. We | We integrate open banking and data from your service providers in a simple APIs plug-in that makes it easy for banks to offer bill management tools to their customers. We Empower users to instantly cancel, switch or sign up to services within the banking app. Our long term vision is to build World’s Subscription Marketplace. | ||
'''What stage is your business?''' | '''What stage is your business?''' | ||
We did a 6-month pilot with TSB last summer and we just signed an official partnership with them for 3-years and have access to 5,000,000 customers. | We did a 6-month pilot with TSB last summer and we just signed an official partnership with them for 3- years and have access to 5,000,000 customers. | ||
'''Describe your advisers.''' | '''Describe your advisers.''' | ||
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'''Give an overview of your startup's financing history.''' | '''Give an overview of your startup's financing history.''' | ||
We raised two rounds of funding total of £700k. We raised an angel round of £200k in August 2019. Following that, we raised a pre-Seed round of £0.5M (£500k) at £3M | We raised two rounds of funding total of £700k. We raised an angel round of £200k in August 2019. Following that, we raised a pre-Seed round of £0.5M (£500k) at £3M Vlatuion (post-money) led by Twinkl Hive in November 2020. Majority of our money spent on salaries, developers and SaaS/APIs. We are currently applying for Innovate UK Smart Grant (£500k). | ||
'''Explain the ownership structure of your company.''' | '''Explain the ownership structure of your company.''' | ||
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'''Please explain the history of your venture.''' | '''Please explain the history of your venture.''' | ||
As mentioned above | As mentioned above all three co-founders are science graduates (Physics, Biology and Engineering) from Imperial College London. Two of the co-founders (Nadal Sarkytbayev and Isa Ibrahim) received the Graduate Entrepreneur Visa for 2 years to start ApTap. In the beginning, the idea was simple - we wanted to build an app to help people reduce their carbon footprint emission and be more environmentally friendly. There are 4 simple ways of doing that: 1) Swap meat for a plant- based diet 2) Choose to travel by bicycle, PT or electric cars 3) Buy eco-friendly goods 4) Switch a Renewable Energy Providers Although changing your habits can be difficult, switching your energy provider to a green supplier is the simplest way of doing good environment. Therefore we decided to solve that problem with ApTap. We were part of E-Lab for two years, participated in VCC and received a lot of support from the mentors and coaches. | ||
'''Please explain the longer term, future vision for the Company''' | '''Please explain the longer term, future vision for the Company''' | ||
Our | Our Vision Build the World's Subscription Marketplace. We want to develop the most extensive set of APIs for comparing and switching any service providers with a 1-tap of a button. | ||
'''Explain the core technologies and/or service propositions of your venture.''' | '''Explain the core technologies and/or service propositions of your venture.''' | ||
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'''Does your commercial strategy rely on intellectual property assets?''' | '''Does your commercial strategy rely on intellectual property assets?''' | ||
We don't need IP/patent in order to commercially operate with clients. The APIs and algorithm that we are building is our | We don't need IP/patent in order to commercially operate with clients. The APIs and algorithm that we are building is our Intellectual Property. | ||
'''What commercial progress have you made?''' | '''What commercial progress have you made?''' | ||
We did a 6-month pilot with TSB last summer (2020), they paid £50k and we agreed 50/50 revenue split. We have over 50 brands of energy and broadband providers onboard with 90% market coverage of the service providers. We generate £20-100 affiliate commission per deal switch. We signed a 3-years contract with TSB Bank in April 2021 and have access to 5,000,000 customers. We are onboarding 3 more clients this year. | We did a 6-month pilot with TSB last summer (2020), they paid £50k and we agreed 50/50 revenue split. We have over 50 brands of energy and broadband providers onboard with 90% market coverage of the service providers. We generate £20-100 affiliate commission per deal switch. We signed a 3-years contract with TSB Bank in April 2021 and have access to 5,000,000 customers. We are onboarding 3 more clients this year. | ||