Editing Unbanked
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[[File:2318-1636533079-20290a03a1058c5197270c8df7c59f4af32a3650.mp4]] | [[File:2318-1636533079-20290a03a1058c5197270c8df7c59f4af32a3650.mp4]] | ||
== Problem | == Problem == | ||
=== Banking technology is decades out of date === | === Banking technology is decades out of date === | ||
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Cryptocurrencies and DeFi are rapidly disrupting the legacy finance ecosystem. They are bringing about a paradigm shift in finance—just as the internet did with communication and commerce. It's the fourth industrial revolution! | Cryptocurrencies and DeFi are rapidly disrupting the legacy finance ecosystem. They are bringing about a paradigm shift in finance—just as the internet did with communication and commerce. It's the fourth industrial revolution! | ||
== Solution | == Solution == | ||
'''A global neo-bank platform built on blockchain''' | '''A global neo-bank platform built on blockchain''' | ||
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Want to buy crypto? Simply send USD to your Unbanked bank account via wire, ACH, or credit card. You can then purchase currencies like Bitcoin and Ethereum and settle to your self-custodial wallet. Your keys, your crypto! | Want to buy crypto? Simply send USD to your Unbanked bank account via wire, ACH, or credit card. You can then purchase currencies like Bitcoin and Ethereum and settle to your self-custodial wallet. Your keys, your crypto! | ||
== Product | == Product == | ||
'''Get Unbanked''' | '''Get Unbanked''' | ||
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Unlike other platforms that make you wait days or weeks for access to your crypto purchases, Unbanked offers near-instant settlements of them to your self-custodial wallet. | Unlike other platforms that make you wait days or weeks for access to your crypto purchases, Unbanked offers near-instant settlements of them to your self-custodial wallet. | ||
== Traction | == Traction == | ||
'''5x YoY revenue growth''' | '''5x YoY revenue growth''' | ||
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<Youtube>https://youtu.be/Lj_XEwQ459E</Youtube> | <Youtube>https://youtu.be/Lj_XEwQ459E</Youtube> | ||
== Financials | == Financials == | ||
=== Revenue === | === Revenue === | ||
Unbanked’s highest revenue month thus far is April 2021, at $2.06M. Its company cash flow doubled from January 2021 to May 2021. At this pace, Unbanked is forecasting $20M+ for EOY 2021. | Unbanked’s highest revenue month thus far is April 2021, at $2.06M. Its company cash flow doubled from January 2021 to May 2021. At this pace, Unbanked is forecasting $20M+ for EOY 2021. | ||
== Customers | == Customers == | ||
'''Scaling to support millions of customers''' | '''Scaling to support millions of customers''' | ||
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<Youtube>https://youtu.be/wYRo8pVT4YI</Youtube> | <Youtube>https://youtu.be/wYRo8pVT4YI</Youtube> | ||
== Business model | == Business model == | ||
'''Using economies of scale to fuel revenue growth''' | '''Using economies of scale to fuel revenue growth''' | ||
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Unbanked expects to have other revenue streams as part of its roadmap as it releases products, such as remittances, borrowing, and lending, as well as larger margins that come with scale. Unbanked plans to focus on marketing its product innovation, user experience, and competitive pricing to drive growth and profitability. | Unbanked expects to have other revenue streams as part of its roadmap as it releases products, such as remittances, borrowing, and lending, as well as larger margins that come with scale. Unbanked plans to focus on marketing its product innovation, user experience, and competitive pricing to drive growth and profitability. | ||
== Market | == Market == | ||
'''This is asymmetrical warfare—and the opportunity size is in the trillions''' | '''This is asymmetrical warfare—and the opportunity size is in the trillions''' | ||
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<Youtube>https://youtu.be/rTQtTAUKcPA</Youtube> | <Youtube>https://youtu.be/rTQtTAUKcPA</Youtube> | ||
== Competition | == Competition == | ||
=== Competitive analysis === | === Competitive analysis === | ||
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Revolut raised $880M at a $33B valuation in July of 2021. Coinbase did a direct listing on NASDAQ in 2021 at a valuation of $85B. Both are strong in their industry focus, but each have built walled gardens and do not have the white-label flexibility that Unbanked has built. | Revolut raised $880M at a $33B valuation in July of 2021. Coinbase did a direct listing on NASDAQ in 2021 at a valuation of $85B. Both are strong in their industry focus, but each have built walled gardens and do not have the white-label flexibility that Unbanked has built. | ||
== Vision and strategy | == Vision and strategy == | ||
'''Planning for the future''' | '''Planning for the future''' | ||
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<Youtube>https://youtu.be/XQJYpcQ88sg</Youtube> | <Youtube>https://youtu.be/XQJYpcQ88sg</Youtube> | ||
== Roadmap | == Roadmap == | ||
Unbanked also has an ambitious roadmap of new products and services that it intends to bring to the marketplace. Some of these include: | Unbanked also has an ambitious roadmap of new products and services that it intends to bring to the marketplace. Some of these include: | ||
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* Expanding geographic reach | * Expanding geographic reach | ||
== Funding | == Funding == | ||
'''$1.4M raised to date''' | '''$1.4M raised to date''' | ||
Unbanked has raised approximately $1.4M to date. Both of its previous rounds have been oversubscribed. Its last round was held on Republic where it hit the cap of $1,070,000 from over 3,700 investors. | Unbanked has raised approximately $1.4M to date. Both of its previous rounds have been oversubscribed. Its last round was held on Republic where it hit the cap of $1,070,000 from over 3,700 investors. | ||
== Founders | == Founders == | ||
'''A mission to transform financial access and control''' | '''A mission to transform financial access and control''' | ||
Unbanked was founded in 2018 by Ian Kane and Daniel Gouldman with a simple mission: Give customers a better, faster, and cheaper way to transact value with one another, no matter if they were across the street or across the world. The founder’s belief that financial access and control is a human right that can be enabled through the blockchain led them to rebel against the status quo which has plagued traditional banking for years. | Unbanked was founded in 2018 by Ian Kane and Daniel Gouldman with a simple mission: Give customers a better, faster, and cheaper way to transact value with one another, no matter if they were across the street or across the world. The founder’s belief that financial access and control is a human right that can be enabled through the blockchain led them to rebel against the status quo which has plagued traditional banking for years. | ||
== Team | == Team == | ||
'''Co-founder: Ian Kane''' | '''Co-founder: Ian Kane''' | ||
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'''Head of HR: Anne Blanchard''' | '''Head of HR: Anne Blanchard''' | ||
== Risks | == Risks == | ||
'''There is no guarantee of a return on an Investor’s investment.''' | '''There is no guarantee of a return on an Investor’s investment.''' | ||