Cheers Wallet Engine
remittances . mobile/online remittance . software/whitelabel/apis-remittance
Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive WhatsApp community where you can engage in discussions with global industry experts!
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
COMPANY TYPE:
For Profit
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
11-50
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
NO
NUMBER OF FUNDING ROUNDS
3
TOTAL FUNDING
$700 K
DATE OF LAST FUNDING
Dec 2019
IPO STATUS
Private
SEED & PRIOR FUNDING
$700 K
SEED CLOSED ON
Feb 2019
LISTED
NO
EXIT STRATEGY
Trade Sale or IPO
Web Traffic
MONTHLY VISITS
622
AVERAGE VISITS (6 MONTHS)
474.29
MONTHLY VISITS GROWTH
7.59%
VISIT DURATION
106
VISIT DURATION GROWTH
-85.87%
PAGE VIEWS VISIT
2.09
PAGE VIEWS VISIT GROWTH
-57.66%
BOUNCE RATE
37.35%
BOUNCE RATE GROWTH
11.92%
GLOBAL TRAFFIC RANK
8,114,775
MONTHLY RANK CHANGE
-1,594,977
MONTHLY RANK GROWTH
-16.43%
Sign up for 7 days free trial with MEDICI Inner Circle to follow and track profiles you care about.
Join the exclusive global FinTech community
Be a part of the global FinTech community on WhatsApp
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
Traction
NUMBER OF TRANSACTIONS:
6 K
TRANSACTIONS VALUE:
1.00
TRANSACTIONS COMMENT:
Prototype consisted of social use-cases with contextual micro transactions.
ACTIVE USERS/ACCOUNTS:
NA Million
ACTIVE USERS COMMENT:
Currently have a proof of concept that enables instant money transfer between wallets in different jurisdictions.
LIVE USERS/TRANSACTIONS:
Yes, in trial/pilot
How will you grow the number of users/accounts/transactions?
Through identified early adopters (currently 3 apps) driving contextual in-app transactions.
CHANNEL STATUS
NO SALES YET
People
NUMBER OF EMPLOYEES
1-10
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
Momentum
FUNDED
YES
TOTAL FUNDING:
$250 K
LISTED
NO