Cheers Wallet Engine
remittances . mobile/online remittance . software/whitelabel/apis-remittance
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About
Cheers is a global “Wallet-as-a-Service” platform. Worldwide compliant, no bank account needed. We offer a suite of APIs for developers to seamlessly embed in-app wallets and to build game-changing features using mobile money without jeopardising cross-border scalability.
Cheers is a global “Wallet-as-a-Service” platform. Worldwide compliant, no bank account needed. We offer a suite of APIs for developers to seamlessly embed in-app wallets and to build game-changing features using mobile money without jeopardising cross-border scalability.
Focus
PRODUCTS & SERVICES
API-based wallets with global transaction capabilities. Cheer Wallets come white-labelled or branded and do not require a user to have a bank account or payment card. Able to transact in multiple currencies, instantly, and down to micro price-points (e.g. $0.01).
REVENUE MODEL
Transactional business model
MAIN CLIENTS
Online retail consumers
PRIMARY PROBLEM SOLVED
There are 3 billion smartphone users connected through global platforms (WhatsApp, Facebook, and many others). These platforms struggle to integrate mobile money because their user base is highly fragmented with 1000s of wallets, countless regulatory regimes, various levels of financial inclusion.
INTELLECTUAL PROPERTY
Patent(s) NOT_FILED
Traction
NUMBER OF TRANSACTIONS:
6 K in 2016
TRANSACTIONS VALUE:
$1.00 in 2016
TRANSACTIONS COMMENT:
Prototype consisted of social use-cases with contextual micro transactions.
ACTIVE USERS:
3000 Million in 2016
ACTIVE USERS COMMENT:
Public prototype in restricted environment (single country, emerging market, social use cases).
People
FOUNDERS
Gregor Arn
Barry Hurley
BOARD MEMBERS AND ADVISORS
Rico Wyder
Haile Owusu
Faisal Khan
Andreas Kuehne
NUMBER OF EMPLOYEES
1-10
COMMENT:
We have been immersed in the world of global payments,financial regulations for several decades,are evangelists for borderless mobile money. Living,breathing emerging markets,regularly participating in the world's toughest off-shore yacht races shaped us in many ways, especially in being focused,resilient.
Momentum
FUNDED
YES
TOTAL FUNDING
$250 K
SEED & PRIOR FUNDING
$250 K
LISTED
NO
EXIT STRATEGY
Trade Sale or IPO
For Investors
FUNDING NEEDED:
$1 M
USES OF FUNDS RAISED:
1. Launch Developer SDK
2. Marketing/Visibility
3. Core Team Hires
4. Runway
5. Partnership Development
EXIT STRATEGY
Trade Sale or IPO
MONTHS LEFT WITH CURRENT CASH BURN RATE:
18 months from 14 Aug, 2018
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FOUNDING YEAR:
LOCATION:
Views:
$250 K
About
Cheers is a global “Wallet-as-a-Service” platform. Worldwide compliant, no bank account needed. We offer a suite of APIs for developers to seamlessly embed in-app wallets and to build game-changing features using mobile money without jeopardising cross-border scalability.
Cheers Wallet Engine
About
Cheers is a global “Wallet-as-a-Service” platform. Worldwide compliant, no bank account needed. We offer a suite of APIs for developers to seamlessly embed in-app wallets and to build game-changing features using mobile money without jeopardising cross-border scalability.
Focus
PRODUCTS & SERVICES
In-App wallets are hosted on bank-grade, highly scalable, cloud-based infrastructure. Global, borderless Peer-to-Peer transfers. Focused on small-value transfers under $100.
REVENUE MODEL
Transactional business model
TOP PROBLEM SOLVED
Global businesses and apps are missing a turn-key solution in order to connect their global users financially in a borderless, frictionless manner. This has led them to either build out cumbersome payment solutions for their own ecosystems - straddling regulatory and painstaking wallet integrations - or simply missing out on the opportunity to create sticky money features that add value to their existing and future users.
INTELLECTUAL PROPERTY
Patent(s) not Filed
PRODUCT DEVELOPMENT STAGE
MARKET TRIAL
PRODUCT DEVELOPMENT COMMENT
Cheers operates as a licensed financial institution using existing, highly scalable, bank-grade technology.
KEY DIFFERENTIATORS
1) The world’s first Wallet-As-A-Service to provide a single plug-point for a custom-branded, globally compliant in-app wallet solution. 2) With regulatory compliance in 180+ countries, enabling a borderless, frictionless payment solution while also catering to the 2 billion unbanked global citizens. 3) Only wallet backend that offers a app owner / developer-centered revenue-share model.
PRIMARY CUSTOMER TYPE
Enterprise - Others
Small And Medium Business - Other
PRODUCT ATTRIBUTES
White label
People
FOUNDERS
Gregor Arn
Barry Hurley
NUMBER OF EMPLOYEES
1-10
KEY EMPLOYEES:
CEO, FOUNDER: Gregor Arn
CTO: Not Public
CMO: Arish Khajotia
COO, FOUNDER: Barry Hurley
CRO: Arish Khajotia
TEAM COMMENT:
We have been immersed in the world of global payments,financial regulations for several decades,will champion borderless mobile money. Living,breathing emerging markets.
BOARD MEMBERS AND ADVISORS:
Rico Wyder, Haile Owusu, Faisal Khan, Andreas Kuehne
Momentum
FUNDED
YES
TOTAL FUNDING:
$800 K
LISTED
NO
FUNDING SERIES
Seed --- Jan 2018 --- USD800 K at a USD4 MvaluationSubscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!
Cheers is a global “Wallet-as-a-Service” platform. Worldwide compliant, no bank account needed. We offer a suite of APIs for developers to seamlessly embed in-app wallets and to build game-changing features using mobile money without jeopardising cross-border scalability.
Focus+Momentum+Traction+People+For Investors+
Other+Related Companies
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Cheers Wallet Engine
About
Cheers is a global “Wallet-as-a-Service” platform. Worldwide compliant, no bank account needed. We offer a suite of APIs for developers to seamlessly embed in-app wallets and to build game-changing features using mobile money without jeopardising cross-border scalability.
Focus
PRODUCTS & SERVICES
In-App wallets are hosted on bank-grade, highly scalable, cloud-based infrastructure. Global, borderless Peer-to-Peer transfers. Focused on small-value transfers under $100.
REVENUE MODEL
Transactional business model
TOP PROBLEM SOLVED
Global businesses and apps are missing a turn-key solution in order to connect their global users financially in a borderless, frictionless manner. This has led them to either build out cumbersome payment solutions for their own ecosystems - straddling regulatory and painstaking wallet integrations - or simply missing out on the opportunity to create sticky money features that add value to their existing and future users.
PRODUCT DEVELOPMENT STAGE
MARKET TRIAL
PRODUCT DEVELOPMENT COMMENT
Cheers operates as a licensed financial institution using existing, highly scalable, bank-grade technology.
KEY DIFFERENTIATORS
1) The world’s first Wallet-As-A-Service to provide a single plug-point for a custom-branded, globally compliant in-app wallet solution. 2) With regulatory compliance in 180+ countries, enabling a borderless, frictionless payment solution while also catering to the 2 billion unbanked global citizens. 3) Only wallet backend that offers a app owner / developer-centered revenue-share model.
PRIMARY CUSTOMER TYPE
Enterprise - Others
Small And Medium Business - Other
PRODUCT ATTRIBUTES
White label
People
FOUNDERS
Gregor Arn
Barry Hurley
NUMBER OF EMPLOYEES
1-10
KEY EMPLOYEES:
CEO, FOUNDER: Gregor Arn
CTO: Not Public
CMO: Arish Khajotia
COO, FOUNDER: Barry Hurley
CRO: Arish Khajotia
TEAM COMMENT:
We have been immersed in the world of global payments,financial regulations for several decades,will champion borderless mobile money. Living,breathing emerging markets.
BOARD MEMBERS AND ADVISORS:
Rico Wyder, Haile Owusu, Faisal Khan, Andreas Kuehne
Momentum
FUNDED
YES
TOTAL FUNDING:
$800 K
LISTED
NO