Cashaa

blockchainartificial intelligence/machine learning

FOUNDING YEAR: 2016
LOCATION: United Kingdom
Last Update: 23/12/2019

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About

Cashaa is a p2p marketplace for money transfer matching senders and receivers with cryptocurrency traders. Cashaa is a UK company based in Level39, Canary Wharf, and has just been ranked no.41 of the most influential blockchain companies by Richtopia. Cashaa is a product of Auxesis Group, India`s leading blockchain development company which works with banks, governments, insurers and startups in India and internationally. We successfully launched our MVP in Feb 2017, did some live transactions, and the motivation of building a truly innovative remittance application is becoming more stronger with each transaction we are doing. Although our competition is with the Western Union kind of services, we were also able to compete with startups like Transferwise, World Remit, Uphold or Circle without having a huge customer acquisition cost. Now we are glad to announce our seed round of $1m to make Cashaa a groundbreaking product which can compete with the industry giants like Western Union and MoneyGram as well as with startups like Transferwise and World Remit.

MEDICI Analysis

Cashaa is a blockchain powered digital banking platform that offers various financial products to users. It offers innovative trading and P2P money transfer services between fiat and crypto currencies. The blockchain powered P2P marketplace enable users to send money anywhere in the word at zero fees.

Focus

PRODUCTS & SERVICES

Cashaa product offerings include a The Bitcoin seller and buyer are asked to deposit their Bitcoins in the escrow. The seller has to deposit 100% of the coins which they have to sell, while the buyer has to put 10% collateral which is released as soon as the process complete. The peer to peer exchange platform encompasses liquidity providing mechanism from the remittance industry, clearinghouse messaging network and escrow system.

REVENUE MODEL

Arbitrage opportunities between Bitcoin markets, - Flat fee on transactions - Fee from the P2P local crypto exchange market - Fee from the creation of new financial products with our partners like Bill payments, E commerce purchase, Mobile minutes dedicated to Asia & African market. - Fee for Premium services like late night payment and 30-min cash availability service. - Fees from creation of new forms of digital assets. - Fees in white labelling the platform for B2B sectors.

MAIN CLIENTS

Retail customers

EXISTING PARTNERSHIPS

Some of its partners are Crowd Machine

Coinfirm

TokenMarket

Agrello

Oblicity

InfotechHub

Boontech

Celestial

Bubblo etc

PRIMARY PROBLEM SOLVED

Cashaa is solving the problems that individuals and businesses, especially blockchain companies, have with traditional banking

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

Traction

REVENUE

$0 - $99k

NUMBER OF TRANSACTIONS:

2.24 M

TRANSACTIONS VALUE:

$2.24 M

ACTIVE USERS:

12000

ACTIVE USERS COMMENT:

Cashaa has started remittance services to India and Nigeria from UK. While India & Nigeria is a huge remittance market ($100+ billion), Nigeria which currently is going through financial crunch holds a huge opportunity, with no or very less competition like BitPesa, while in India startups like TransferWise, World Remit are trying to deliver a part of the service but not solving the problem of the unbanked in developed countries of which the major population is migrants sending money home. Therefore, they have to live on the mercy of Western Union or other expensive money transfer services.

People

FOUNDERS

Kumar Gaurav

Janina Lowisz

Celestine Vettical

Felice N. Covelli

BOARD MEMBERS AND ADVISORS

Felice Covelli

NUMBER OF EMPLOYEES

11-50

INVESTORS:

2F Capital Ltd

Celestial Holdings

Level39

COMMENT:

We have a small, experienced, balanced,lean team with capability,support from industry leaders in their field like Jon Matonis, Pawel Kuskowski,Top Fintech influencers.

Momentum

FUNDED

YES

LISTED

NO

ICO

18770000

For Investors

FUNDING NEEDED:

$1 M

USES OF FUNDS RAISED:

1. Expanding infrastructure in first 3 markets, UK licenses, marketing and promotion and customer support.

MONTHS LEFT WITH CURRENT CASH BURN RATE:

4 months from 13 Aug, 2018

COMPETITORS:

Western Union

Moneygram

Localbitcoins

Paxful

Abra

Innovation Programs

BASICS

FOUNDING YEAR:

2016

LOCATION:

United Kingdom

Views:

150 VISITORS | 267 VIEWS
TOTAL EMPLOYEES
11-50

About

Cashaa is a p2p marketplace for money transfer matching senders and receivers with cryptocurrency traders. Cashaa is a UK company based in Level39, Canary Wharf, and has just been ranked no.41 of the most influential blockchain companies by Richtopia. Cashaa is a product of Auxesis Group, India`s leading blockchain development company which works with banks, governments, insurers and startups in India and internationally. We successfully launched our MVP in Feb 2017, did some live transactions, and the motivation of building a truly innovative remittance application is becoming more stronger with each transaction we are doing. Although our competition is with the Western Union kind of services, we were also able to compete with startups like Transferwise, World Remit, Uphold or Circle without having a huge customer acquisition cost. Now we are glad to announce our seed round of $1m to make Cashaa a groundbreaking product which can compete with the industry giants like Western Union and MoneyGram as well as with startups like Transferwise and World Remit.

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

Cashaa is a blockchain powered digital banking platform that offers various financial products to users. It offers innovative trading and P2P money transfer services between fiat and crypto currencies. The blockchain powered P2P marketplace enable users to send money anywhere in the word at zero fees.

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

Cashaa

About

Cashaa is a p2p marketplace for money transfer matching senders and receivers with cryptocurrency traders. Cashaa is a UK company based in Level39, Canary Wharf, and has just been ranked no.41 of the most influential blockchain companies by Richtopia. Cashaa is a product of Auxesis Group, India`s leading blockchain development company which works with banks, governments, insurers and startups in India and internationally. We successfully launched our MVP in Feb 2017, did some live transactions, and the motivation of building a truly innovative remittance application is becoming more stronger with each transaction we are doing. Although our competition is with the Western Union kind of services, we were also able to compete with startups like Transferwise, World Remit, Uphold or Circle without having a huge customer acquisition cost. Now we are glad to announce our seed round of $1m to make Cashaa a groundbreaking product which can compete with the industry giants like Western Union and MoneyGram as well as with startups like Transferwise and World Remit.

Focus

PRODUCTS & SERVICES

Cashaa is creating a better bank, challenging legacy banking by building an app and products with input from our community of users. Our blockchain based platform enables its community to store, save, spend, receive, borrow and get insured, with a simplified user experience in a legally compliant way. Ultimately, Cashaa aims to become a one-stop-shop for financial needs.

REVENUE MODEL

Arbitrage opportunities between Bitcoin markets, - Flat fee on transactions - Fee from the P2P local crypto exchange market - Fee from the creation of new financial products with our partners like Bill payments, E commerce purchase, Mobile minutes dedicated to Asia & African market. - Fee for Premium services like late night payment and 30-min cash availability service. - Fees from creation of new forms of digital assets. - Fees in white labelling the platform for B2B sectors.

TOP PROBLEM SOLVED

Cashaa is solving the problems that individuals and businesses, especially blockchain companies, have with traditional banking

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

PRODUCT DEVELOPMENT COMMENT

We have launched in February 2017 and have done initial transactions. We have already secured customers worth $1.2m.

KEY DIFFERENTIATORS

Competences: 1. Unique idea to leverage the untapped potential by creating a win-win model for everyone on the platform. 2. In-house technology team 2. Already launched product in February 2017 3. Acquired initial transactions 4. Created brand among Bitcoin and cryptocurrency community 5. Huge market size giving rooms for more than 20 copy cats 6. Complex business logic, embedded in code to make user process smoother. Main competitors: We are marketplace for cash senders and cryptocurrency traders. We have a unique idea, direct competitors are copy cats which are at development stage, such as Abra, Bitleone, many others. Indirect competitors: Localbitcoins.com/Paxful, Western Union/ MoneyGram.

PRIMARY CUSTOMER TYPE

Consumer

PRODUCT ATTRIBUTES

Customer facing

People

FOUNDERS

Kumar Gaurav

Janina Lowisz

Celestine Vettical

Felice N. Covelli

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

CEO, FOUNDER: Kumar Gaurav

CMO, FOUNDER: Janina Lowisz

FOUNDER: Celestine Vettical

FOUNDER: Felice N. Covelli

TEAM COMMENT:

We have a small, experienced, balanced,lean team with capability,support from industry leaders in their field like Jon Matonis, Pawel Kuskowski,Top Fintech influencers.

BOARD MEMBERS AND ADVISORS:

Felice Covelli

INVESTORS:

2F Capital Ltd

Celestial Holdings

Level39

Momentum

FUNDED

NO

LISTED

NO

FUNDING SERIES