BitNexo

cryptocurrencyblockchain

FOUNDING YEAR: 2015
LOCATION: Chile
Last Update: 09/07/2020

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

About

BitNexo helps cross-border SMB commerce companies pay for goods & services between Asia and Latin America quickly, securely, and with low fees by using blockchain technology.

MEDICI Analysis

BitNexo is a blockchain powered payments platform that enables users to conduct transactions between Asia and Latin America. It offers B2B cross border payment solutions for small and medium sized businesses.

Focus

PRODUCTS & SERVICES

BitNexo offers digital payment and transfer related software solutions. It uses bitcoin to send the money, but doesn’t require customers to buy or handle the digital currency. The service only uses it as a payment channel and delivers the money to bank accounts in either country.

REVENUE MODEL

BitNexo follows transaction based revenue model. The company charges percentage of the transacted amount.

MAIN CLIENTS

Retail consumers

PRIMARY PROBLEM SOLVED

SMBs who pay between emerging markets face high transfer fees, slow payment times, and either multiple currency conversions or locked operating capital in foreign currency accounts. BitNexo clients can pay their overseas provider from their home currency and local banking system saving over 50% on time and up to 80% on transfer cost.

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

Traction

VALUATION / MARKET CAP:

$200 K in 2015

REVENUE

$0 - $99k

NUMBER OF TRANSACTIONS:

200.00

TRANSACTIONS VALUE:

400 K

ACTIVE USERS:

200

TRACTION COMMENT:

Bitnexo has been announced as the joint winner in the Latin American final of BBVA's Open Talent competition in 2015.

People

FOUNDERS

Darren Camas

Javier Salcedo

Constance Yuan

BOARD MEMBERS AND ADVISORS

Katryna Mutagh

Adam Stradling

NUMBER OF EMPLOYEES

1-10

INVESTORS:

Chinaccelerator

SOSV

KEY EMPLOYEES:

Sergio Peñaranda

Pablo Godoy

COMMENT:

Bitcoin industry experience, emerging markets payments

Momentum

FUNDED

YES

TOTAL FUNDING

$30 K

DATE OF LAST FUNDING

Mar 2015

SEED & PRIOR FUNDING

$30 K

LISTED

NO

For Investors

FUNDING NEEDED:

$500 K

USES OF FUNDS RAISED:

1. Developers

2. Licensing

MONTHS LEFT WITH CURRENT CASH BURN RATE:

0 months from 26 May, 2016

Innovation Programs

BASICS

FOUNDING YEAR:

2015

LOCATION:

Chile

Views:

340 VISITORS | 608 VIEWS
LATEST FUNDING ROUND

$30 K

TOTAL EMPLOYEES
1-10

About

BitNexo helps cross-border SMB commerce companies pay for goods & services between Asia and Latin America quickly, securely, and with low fees by using blockchain technology.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

BitNexo is a blockchain powered payments platform that enables users to conduct transactions between Asia and Latin America. It offers B2B cross border payment solutions for small and medium sized businesses.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

Innovation Programs

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack

BitNexo

About

BitNexo helps cross-border SMB commerce companies pay for goods & services between Asia and Latin America quickly, securely, and with low fees by using blockchain technology.

Focus

PRODUCTS & SERVICES

B2B cross border payments for SMBs using blockchain as payment rail

REVENUE MODEL

BitNexo follows transaction based revenue model. The company charges percentage of the transacted amount.

TOP PROBLEM SOLVED

SMBs who pay between emerging markets face high transfer fees, slow payment times, and either multiple currency conversions or locked operating capital in foreign currency accounts. BitNexo clients can pay their overseas provider from their home currency and local banking system saving over 50% on time and up to 80% on transfer cost.

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

PRODUCT DEVELOPMENT COMMENT

We launched our beta product in 2 months. We're about to release our v1 api, which allows payment partners to manage all in platform functions via the api, as well as get automated BTC and fiat funding.

KEY DIFFERENTIATORS

We're a payments company that focuses on end user experience. We just happen to use Bitcoin to facilitate this process. Our api is designed to let both BTC focused and other payment providers to easily integrate with our pay-out and pay-in functionalities.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Small and Medium Business - Physical Retail

Small and Medium Business - Online Retail

Small And Medium Business - Other

STRATEGIC CLIENTS AND PARTNERSHIP

BBVA : Alliance

BDO : Partnership

People

FOUNDERS

Darren Camas

Javier Salcedo

Constance Yuan

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

CEO, FOUNDER: Darren Camas

FOUNDER: Javier Salcedo

Compliance Officer: Sergio Peñaranda

Commercial Manager: Pablo Godoy

FOUNDER: Constance Yuan

TEAM COMMENT:

Bitcoin industry experience, emerging markets payments

BOARD MEMBERS AND ADVISORS:

Katryna Mutagh, Adam Stradling

INVESTORS:

Chinaccelerator

Chinaccelerator

Chinaccelerator

SOSV

SOSV

Momentum

FUNDED

YES

TOTAL FUNDING:

$100 K

LISTED

NO

FUNDING SERIES
Seed Oct 2015 --- USD100 K at a USD2.5 Mvaluation Comment on Seed Angel round

Comment on Valuation

Convertible note