Minkasu, Inc.

paymentsmobile/digital wallet

FOUNDING YEAR: 2014
LOCATION: United States
Last Update: 17/07/2020

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

Minkasu is a mobile payments startup based in Silicon Valley, CA that lets you pay with your smartphone on any device, any browser, and anywhere. It a free app available on both App Store and Google Play. Minkasu delivers seamless user experience across all channels — online, mobile web, social, messaging platforms, in-app and in-store — without usernames and passwords. It is operating system-agnostic and device-agnostic. Also, it is not specific to any network, bank or merchant. It makes use of tokenization, ID verification and biometrics, and has filed five patents around its core tech.

MEDICI Analysis

Minkasu, Inc. provides a mobile app to pay when shopping on smartphone

Focus

PRODUCTS & SERVICES

Mobile Payments App

REVENUE MODEL

We are focussed on building a network of merchants and users.

MAIN CLIENTS

iGroceryOnTheGo

Crazy on Digital

Magento

Shop Junior Golf

Razoyo

EXISTING PARTNERSHIPS

Magento

PRIMARY PROBLEM SOLVED

Use your smartphone as an authentication device to make a secure payment on any device, any browser, any channel, anywhere.

INTELLECTUAL PROPERTY

Patent(s) FILED

company provided insights

Traction

REVENUE COMMENT:

The current focus is on growing the network of users and merchants.

People

FOUNDERS

Anbu Gounder

Naveen Doraiswamy

Subbu Lakshmanan

BOARD MEMBERS AND ADVISORS

Professor Mustaque Ahamad

Jaya Kolhatkar

NUMBER OF EMPLOYEES

1-10

INVESTORS:

Dan Palanisamy

Kannappan Mohan

Kuppanna G. Krishnan

KEY EMPLOYEES:

Chitra Rakesh

COMMENT:

Qualified, Experienced, Passionate

Momentum

FUNDED

YES

TOTAL FUNDING

$1.75 M

DATE OF LAST FUNDING

Jan 2016

SEED & PRIOR FUNDING

$1.75 M

SEED CLOSED ON

Jan 2016

LISTED

NO

For Investors

FUNDING NEEDED:

$10.00

USES OF FUNDS RAISED:

1. Product Development, Marketing and Business Development

COMPETITORS:

PayPal

Apple Pay

BASICS

FOUNDING YEAR:

2014

LOCATION:

United States

Views:

172 VISITORS | 898 VIEWS
LATEST FUNDING ROUND

$1.75 M

TOTAL EMPLOYEES
1-10

About

Minkasu is a mobile payments startup based in Silicon Valley, CA that lets you pay with your smartphone on any device, any browser, and anywhere. It a free app available on both App Store and Google Play. Minkasu delivers seamless user experience across all channels — online, mobile web, social, messaging platforms, in-app and in-store — without usernames and passwords. It is operating system-agnostic and device-agnostic. Also, it is not specific to any network, bank or merchant. It makes use of tokenization, ID verification and biometrics, and has filed five patents around its core tech.

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

Minkasu, Inc. provides a mobile app to pay when shopping on smartphone

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

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack

Minkasu, Inc.

About

Minkasu is a mobile payments startup based in Silicon Valley, CA that lets you pay with your smartphone on any device, any browser, and anywhere. It a free app available on both App Store and Google Play. Minkasu delivers seamless user experience across all channels — online, mobile web, social, messaging platforms, in-app and in-store — without usernames and passwords. It is operating system-agnostic and device-agnostic. Also, it is not specific to any network, bank or merchant. It makes use of tokenization, ID verification and biometrics, and has filed five patents around its core tech.

Focus

PRODUCTS & SERVICES

Mobile Payments App is available on both App Store and Google Play. Mobile SDK is available for App companies to use.

REVENUE MODEL

We are focussed on building a network of merchants and users.

TOP PROBLEM SOLVED

Use your smartphone as an authentication device to make a secure payment on any device, any browser, any channel, anywhere.

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

PRODUCT DEVELOPMENT COMMENT

Minkasu is a mobile payments App which makes it very easy to pay securely on any device, any browser, any channel, and anywhere - without a username and password.

KEY DIFFERENTIATORS

100% Software Solution, Unique Security Protocol & Highly Secure, Ubiquitous Solution , No need for technologies like NFC, LE Bluetooth.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Enterprise - Others

Small and Medium Business - Online Retail

Small And Medium Business - Other

STRATEGIC CLIENTS AND PARTNERSHIP

Stripe : Payment Gateway Partner

Authurize.Net : Payment Gateway Partner

People

FOUNDERS

Anbu Gounder

Naveen Doraiswamy

Subbu Lakshmanan

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

CEO, FOUNDER: Anbu Gounder

CTO, FOUNDER: Naveen Doraiswamy

Director of Marketing: Chitra Rakesh

FOUNDER: Subbu Lakshmanan

TEAM COMMENT:

Qualified, Experienced, Passionate

BOARD MEMBERS AND ADVISORS:

Professor Mustaque Ahamad, Jaya Kolhatkar,

INVESTORS:

Dan Palanisamy

Dan Palanisamy

Dan Palanisamy

Dan Palanisamy

Dan Palanisamy

Kannappan Mohan

Kannappan Mohan

Kannappan Mohan

Kannappan Mohan

Kannappan Mohan

Kuppanna G. Krishnan

Kuppanna G. Krishnan

Kuppanna G. Krishnan

Kuppanna G. Krishnan

Kuppanna G. Krishnan

Momentum

FUNDED

YES

TOTAL FUNDING:

$1.80

LISTED

NO

FUNDING SERIES
Seed Dec 2015 --- USD1.80 Comment on Seed We closed $750K in December 2014 and an additional $1Million in December 2015.

Comment on Valuation

Convertible Promisory Notes