OFF-MARKET ‘Q1 2023
Transfer Money World-Wide During Live Video/Chat
Hoxton, United Kingdom (RELOCATABLE / PORTABLE WORLDWIDE)
(London)
Seller financing: If the price and deal structure is right.
Asking Price: Best Possible Offer
Cash Flow: $7,481.00
Gross Revenue: $41,867.00
EBITDA: N/A
FF&E: N/A
Inventory: N/A
Established: 2015
Employees: 10 (contract)
Business Description
Our client’s app allows users to create an e-wallet in any of its 6 currencies and make worldwide transfers to other users of the app, as well as spending their funds.
It is essentially the world’s first social payments app. Users can have a chat/audio/video conversation with their contacts directly from the app while sending/receiving/requesting funds. The funds that the user transfers or receives from other users are held at MangoPay (the payments provider). The social component in a financial app is still unique in 2022.
Founded in 2015, our client’s app enables users to send, receive and spend in multiple currencies, while they chat or video call with their contacts, friends or loved ones. The app is currently available in 117 countries and has a white-label option.
Our client’s app lets users send and receive money instantly on their mobile device, securely, while chatting or during video calls. The app targets people needing to transfer funds instantly all over the world and enjoy chatting with the person they are sending it to.
The app makes profit through fees (fees can be configured in various ways: per transaction, percentage, fixed, mixed, monthly fee, etc.). At this moment, transferring through the application is free, and the card has a monthly subscription fee. The fee may be configured through Admin application. So, it may be zero or not.
Another possible income stream is using the white-labeling capabilities of the application.
The solution created by our client is the only one that allows the user to socially interact via chat, video and audio calls while sending and receiving funds. As an example, families that have a member working or studying abroad need to be able to see each other and transfer their money across borders instantly and with the lowest-if-any fees.
The ecosystem also includes a pay-with-the-app solution for online businesses (similar flows to PayPal).
The application can also issue a Mastercard card through which the user can spend funds. This card has a separate wallet, at the cards provider (EML Payments), meaning that a user can have funds in the app but not on the cards and vice versa. The card holds 3 different currencies, EUR, GBP, USD.
NDA is required to receive Executive Summary crafted by ProNova Partners.
Financing: Seller does not wish to finance but will consider
Support & Training: Provided at no charge to enable a smooth transition
Reason for Selling: Other Projects
OFF-MARKET-Money Transfer Software Platform in 117 Countries for Sale
