What Problem We are Solving

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

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

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

Transaction fees:
Loading wallet (3% =$0.50)
Check cashing (1% w/ margin of at least 50%)
Cash-in (Flate fee: $3)

Competitive Advantage

Patent - any telecommunications device used to accessing cash via a cash register.

Revenue

Revenue To Date
$741K
MRR
$73.6K
MoM Growth
4%
Margins
1%

Users

Total Users
30.5K
Total Users (Past 30 Days)
6.57K
Total Paying Users
9.35K

Customer Costs

CAC
$1.15
LTV
$2.59K
Churn
15%

Go-To Market Strategy

Strategic partners: Glory Global (Industry partnership), Evolve Bank and Trust (banking and licenses); BBPOS (hardware partner), TCetra (software partner), cash API license marketplace 

Competitive Analysis

Patent protection for the US Market, larger addressable market than competitors, integration of various digital wallets and digital currencies.
Competitor Website
Via Cash www.viacash.com
Sonect www.sonect.net
SoCash www.socash.io

Networking

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!

Share

TAM SAM SOM

TAM
$94M
SAM
$49M
SOM
$9M

Business Stage

Series A

Business Type

Investor-Backed, Venture Capital Backed

Categories

Mobility Fintech Enterprise B2C B2B2C B2B Technology Finance

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Last Updated: 04/13/20

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