A virtual ATM network that provides free cash to the unbanked/underbanked community to combat high ATM fees whilst increasing foot-traffic and sales for small businesses.
About Us
About Us
Virtual ATM network for the unbind/underbanked. We reduce/eliminate the cost to access cash via the merchant locations in our network. In addition, we have added features that allow for free check cashing for the unbanked.
Venture Highlights
Highlights
Shark Tank (Mark Cuban backed) and raised ~$1M to date. www.gotspare.com/shark_tank.php Strategic partnerships with: Evolve Bank and Trust, CheckALT, Banquest, BBPOS, TCetra
Business Model
Business Model
Transaction fees: Loading wallet (3% =$0.50) Check cashing (1% w/ margin of at least 50%) Cash-in (Flate fee: $3)
Competitive Advantage
Quote
Patent - any telecommunications device used to accessing cash via a cash register.
Revenue
Revenue To Date
$741K
MRR
$73.6K
Revenue YTD
N/A
Burn Rate
N/A
Users
Total Users
30.5K
Total Users (Past 30 Days)
6.57K
Daily Active Users
N/A
Monthly Active Users
N/A
Total Paying Users
9.35K
MoM Growth Users
N/A
Organic Traffic %
N/A
Customer Costs
CAC
$1.15
LTV
$2.59K
Churn
15%
Margins
1%
Go-To Market Strategy
Business Strategy
Strategic partners: Glory Global (Industry partnership), Evolve Bank and Trust (banking and licenses); BBPOS (hardware partner), TCetra (software partner), cash API license marketplace
We are open to meeting up to grab a coffee, or just to chat.
We would really enjoy your feedback and insight into our venture and would be happy to discuss anything that you are currently working on to see if we can be of service!
