Helperbit

blockchaininsurtechp2p insurance

FOUNDING YEAR: 2015
LOCATION: Italy
Last Update: 01/05/2020

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About

Helperbit is an italian startup that offers transparency and auditing services mainly related to humanitarian aid and insurance. Our first target is to improve the conditions of those affected by emergencies using blockchain technology to obtain highly effective results in a short time and with maximum transparency. We designed a P2P donation platform that empowers users to have full control over their donations and gives public audit of organizations activities. The platform offers a P2P pool of funds as a premium service, covering collateral damages and allowing microinsurance thanks to a fast, fair and transparent approach. Helperbit has been selected for the BlockChainSpace accelerator program, has been featured on Nasdaq, il Sole 24 Ore, Wired Italia, Vice and much more. In February won the startup competition at the D10e conference in Amsterdam, in April won the community prize at GTEC competition in Berlin and was selected as one of 100 innovation projects for the World Humanitarian Summit.

MEDICI Analysis

HelperBit is a platform based on P2P network which leverages blockchain technology to allow users to help others affected by a natural disaster all over the world. It offers a geographical information system that provides a fair distribution of financial donations, analyzing catastrophe data and the exact geographical position of the receivers.

Focus

PRODUCTS & SERVICES

The services offering include - Event Map, Main Event List, Organization List, Project List, Proposed NPO List, Donation Flow, Donation Graph, World Statistics and Top Donors.

REVENUE MODEL

Membership fees from donation platform and from insurance service

PRIMARY PROBLEM SOLVED

When a natural disaster happens, there are issues related to inefficiency, opacity, delays in fund distributions and administration of economic aids. The level of corruption is highlighted by people that steal funds allocated to who is really in need, creating a double damage: in addition to subtract directly resources in a time of need, they create a veil of opacity on the aid machine. Furthermore, the effectiveness of relief operations is in doubt because the funds are drained by several intermediate steps and the final amount is less effective for those who really need them. Nowadays aware donors prefer to avoid to donate if they do not trust the organizations that manage the funds, so this huge economic potential remains blocked. When a traditional insurance have to pay for the damages caused by a natural disaster, the process is very long, with a verification of the damages, many bureaucratic procedures and many times they try to avoid to pay.

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

company provided insights

Traction

REVENUE

$0 - $99k

People

FOUNDERS

Guido Baroncini Turricchia

Davide Gessa

Davide Menegaldo

Vincenzo Agui

NUMBER OF EMPLOYEES

1-10

INVESTORS:

Coinsilium Group

KEY EMPLOYEES:

Guido Baroncini Turrichia (CEO)

Davide Menegaldo (COO)

Davide Gessa (CTO)

Roberto Tudini (CFO)

Momentum

FUNDED

YES

DATE OF LAST FUNDING

Mar 2016

SEED CLOSED ON

Mar 2016

LISTED

NO

For Investors

FUNDING NEEDED:

€400 K

USES OF FUNDS RAISED:

1. Salaries

2. External consultancies

3. Marketing

BASICS

FOUNDING YEAR:

2015

LOCATION:

Italy

Views:

92 VISITORS | 203 VIEWS
TOTAL EMPLOYEES
1-10

About

Helperbit is an italian startup that offers transparency and auditing services mainly related to humanitarian aid and insurance. Our first target is to improve the conditions of those affected by emergencies using blockchain technology to obtain highly effective results in a short time and with maximum transparency. We designed a P2P donation platform that empowers users to have full control over their donations and gives public audit of organizations activities. The platform offers a P2P pool of funds as a premium service, covering collateral damages and allowing microinsurance thanks to a fast, fair and transparent approach. Helperbit has been selected for the BlockChainSpace accelerator program, has been featured on Nasdaq, il Sole 24 Ore, Wired Italia, Vice and much more. In February won the startup competition at the D10e conference in Amsterdam, in April won the community prize at GTEC competition in Berlin and was selected as one of 100 innovation projects for the World Humanitarian Summit.

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

HelperBit is a platform based on P2P network which leverages blockchain technology to allow users to help others affected by a natural disaster all over the world. It offers a geographical information system that provides a fair distribution of financial donations, analyzing catastrophe data and the exact geographical position of the receivers.

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

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Helperbit

About

Helperbit is an italian startup that offers transparency and auditing services mainly related to humanitarian aid and insurance. Our first target is to improve the conditions of those affected by emergencies using blockchain technology to obtain highly effective results in a short time and with maximum transparency. We designed a P2P donation platform that empowers users to have full control over their donations and gives public audit of organizations activities. The platform offers a P2P pool of funds as a premium service, covering collateral damages and allowing microinsurance thanks to a fast, fair and transparent approach. Helperbit has been selected for the BlockChainSpace accelerator program, has been featured on Nasdaq, il Sole 24 Ore, Wired Italia, Vice and much more. In February won the startup competition at the D10e conference in Amsterdam, in April won the community prize at GTEC competition in Berlin and was selected as one of 100 innovation projects for the World Humanitarian Summit.

Focus

PRODUCTS & SERVICES

The donation service offers the opportunity to donate directly to people, NPOs, local organizations affected by natural disasters, reducing the number of intermediaries and allowing a detailed audit of the flows. Registered users can be both donors and recipient, because they also can receive donations when they are affected by a catastrophic event. When a natural disaster happens, we are able to determine those in urgent need; the platform checks the status of affected users and allows donors to help them. Through our platform, donors can choose to accept or change the proposed distribution algorithm to suit them and through this process we empower users to have more control over their donations. Donors can donate to NPOs involved in the relief and using the blockchain we allow people to have a detailed audit of the economic flows of the organizations, increasing the trust in their work. This brings to more donations to organizations that operates correctly. The insurance part is focused to offer premium services that cover aspects not yet touched by traditional companies and to fill the lack of policies in natural disaster field. When a traditional insurance have to pay for the damages caused by a natural disaster, the process is very long, with a verification of the damages, many bureaucratic procedures and many times they try to avoid to pay. Helperbit instead will have a transparent system: the amount that each involved user will receive can be calculated in advance, simulating the scenario with fixed variables.

REVENUE MODEL

Membership fees from donation platform and from insurance service

TOP PROBLEM SOLVED

When a natural disaster happens, there are issues related to inefficiency, opacity, delays in fund distributions and administration of economic aids. The level of corruption is highlighted by people that steal funds allocated to who is really in need, creating a double damage: in addition to subtract directly resources in a time of need, they create a veil of opacity on the aid machine. Furthermore, the effectiveness of relief operations is in doubt because the funds are drained by several intermediate steps and the final amount is less effective for those who really need them. Nowadays aware donors prefer to avoid to donate if they do not trust the organizations that manage the funds, so this huge economic potential remains blocked. When a traditional insurance have to pay for the damages caused by a natural disaster, the process is very long, with a verification of the damages, many bureaucratic procedures and many times they try to avoid to pay.

PRODUCT DEVELOPMENT STAGE

MVP

KEY DIFFERENTIATORS

Use of bitcoin & blockchain technology in sectors characterized by inefficiencies and opacities; use of Geographical Information System

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Enterprise - Others

Consumer

STRATEGIC CLIENTS AND PARTNERSHIP

Coinsilium : Investor

People

FOUNDERS

Guido Baroncini Turricchia

Davide Gessa

Davide Menegaldo

Vincenzo Agui

KEY EMPLOYEES:

CEO, FOUNDER: Guido Baroncini Turricchia

CTO, FOUNDER: Davide Gessa

COO, FOUNDER: Davide Menegaldo

employee: Guido Baroncini Turrichia (CEO)

employee: Davide Menegaldo (COO)

employee: Davide Gessa (CTO)

employee: Roberto Tudini (CFO)

FOUNDER: Vincenzo Agui

INVESTORS:

Coinsilium Group

Momentum

FUNDED

NO

LISTED

NO

FUNDING SERIES