Radiius

digital cardswealthtech-retailpersonal finance managementpayments

FOUNDING YEAR: 2015
LOCATION:
Last Update: 05/07/2020

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

Worlds smallest and most secure digital wallet. Hyper-secured with biometric lock and works with any mobile phone, smart-watch, fitness band, or simply hung from your handbag or car key fob. The Radiius wallet aggregates all cards in the wallet (payment and non-payment) and is designed to work seamlessly with existing contactless point of sales systems. For more on our products pls visit our website www.radiiuscorp.com.

MEDICI Analysis

Radiius is a digital wallet company which works with any mobile and wearable device. Radiius aggregates all cards (payment and non-payment) to work with any contactless point of sale system.

Focus

PRODUCTS & SERVICES

Smart card and wearable payment devices for individuals. The company offers three products such as; Quadrus - It is a chip based card that allows users to store all credit card details, Bank card - It is a smart card that helps people for forex and payment top-ups. Paywear - It offers contactless payments solutions for wearables.

REVENUE MODEL

Product Sale - Onetime device sale & Ongoing monthly subscription revenue from services

PRIMARY PROBLEM SOLVED

1. Consumer Convenience: No need to carry a wallet. Pay with your mobile or wearable device or clip on to a car key fob or hand-bag 2. Personal Financial Intelligence: Save every time with "Best Card to Use"; visibility to spend across all cards; plan and budget better. 3. Never lose a deal: Access location based coupons and discounts before you pay! So you maximize your savings.

INTELLECTUAL PROPERTY

Patent(s) FILED

People

FOUNDERS

Rajeshwar Mitra

Sudhir Jha

BOARD MEMBERS AND ADVISORS

Peter Relan

Sudip Nandy

NUMBER OF EMPLOYEES

1-10

INVESTORS:

Raja Bose

KEY EMPLOYEES:

Raghunandan Mishra

ZM Shujauddin

Rajeshwar Mitra(CEO); Sudhir Jha(COO)

COMMENT:

Both founders are significant experience in business management, technology, banking & financial services,product,services development Team comprised of experienced,accomplished members who have built successful products. Created eco-system of partners in specific areas to accelerate development (EMV Co), Security. Build a strong network of electronic manufacturing service (EMS) vendors in Taiwan, Singapore,Japan.

Momentum

FUNDED

YES

TOTAL FUNDING

$750 K

DATE OF LAST FUNDING

May 2015

TOTAL FUNDING COMMENT

An undisclosed amount raised.

SEED & PRIOR FUNDING

$750 K

LISTED

NO

For Investors

FUNDING NEEDED:

$1 M

USES OF FUNDS RAISED:

1. Continued GTM post Indigogo launch

2. Continued Development of Product and Apps

3. Monthly burn through June 2018

EXIT STRATEGY

IPO in 2020; Sale to strategic Acquirer (Wearable Player, Device Manufacturer, Payments eco-system)

MONTHS LEFT WITH CURRENT CASH BURN RATE:

6 months from 20 Feb, 2017

BASICS

FOUNDING YEAR:

2015

LOCATION:

Views:

95 VISITORS | 171 VIEWS
LATEST FUNDING ROUND

$750 K

TOTAL EMPLOYEES
1-10

About

Worlds smallest and most secure digital wallet. Hyper-secured with biometric lock and works with any mobile phone, smart-watch, fitness band, or simply hung from your handbag or car key fob. The Radiius wallet aggregates all cards in the wallet (payment and non-payment) and is designed to work seamlessly with existing contactless point of sales systems. For more on our products pls visit our website www.radiiuscorp.com.

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

Radiius is a digital wallet company which works with any mobile and wearable device. Radiius aggregates all cards (payment and non-payment) to work with any contactless point of sale system.

Focus+
Momentum+
People+
For Investors+
Other+

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack

Radiius

About

Worlds smallest and most secure digital wallet. Hyper-secured with biometric lock and works with any mobile phone, smart-watch, fitness band, or simply hung from your handbag or car key fob. The Radiius wallet aggregates all cards in the wallet (payment and non-payment) and is designed to work seamlessly with existing contactless point of sales systems. For more on our products pls visit our website www.radiiuscorp.com.

Focus

PRODUCTS & SERVICES

1. Radiius Tag : A contactless digital wallet that stores all cards (payment, rewards, loyalty) in the cards wallet. Connects seamlessly with existing mobile and wearable devices through bluetooth. Secured through a bio-metric sensor, it provides a user with access to all their cards on the wearable screen. Users could navigate, select and tap to pay. The Radiius Tag clips on to existing wearables or could work with a default card set and clipped to non-display wearables such as fitness bands or even analog watches! 2. Radiius Bank Card: A B2B smart-card for banks & issuers: Its a smart card  that enables banks/issuers to offer pre-loaded card products or add card products directly to a consumer's Radiius card over the air. It enables Instant activation or de-activation of cards without having to print and distribute more plastic. Banks/Issuers could provide customers preloaded debit, credit, pre-paid cards in a single smart card. Activation could be controlled by bank business processes and rules. Ensures up-sell and cross-sell and share of wallet for an Issuer. The Bank card supports chip, NFC and mag stripe, has an e-ink display, secured with pin protection and has navigation keys to select card to use. This is powered by a rechargeable battery and works seamlessly in any point of sale. Radiius products are integrated with payment networks (VISA, MasterCard and DISCOVER) through its token services partner: Fit-Pay 3. All our products are supported by a mobile app that provides a host of value added services such as Radiius CFA - a personal financial management, Radiius Rewards - a location based coupon aggregation and notification solution and a Best Card to Use feature.

REVENUE MODEL

Product Sale - Onetime device sale & Ongoing monthly subscription revenue from services

TOP PROBLEM SOLVED

1. Consumer Convenience: No need to carry a wallet. Pay with your mobile or wearable device or clip on to a car key fob or hand-bag 2. Personal Financial Intelligence: Save every time with "Best Card to Use"; visibility to spend across all cards; plan and budget better. 3. Never lose a deal: Access location based coupons and discounts before you pay! So you maximize your savings.

PRODUCT DEVELOPMENT STAGE

MARKET TRIAL

PRODUCT DEVELOPMENT COMMENT

1. Radiius demoed product prototype at TiE, Santa Clara in April 2016. 2. CNBC highlighted us amongst the 5 top tech innovations: http://cnb.cx/1WFZ6bt 3. Has tied up with Fit-Pay as Token Service Provider to enable VISA and Mastercard tokens for the Radiius devices 4. Pre-order launch in April 2017 5. Multiple B2B opportunities for the Radiius B2B card from Japan and India

KEY DIFFERENTIATORS

1. First wearable wallet of its kind (aggregating multiple cards in the wallet) 2. Works with any wearable or smartwatch or mobile unlike ApplePay or Samsung Pay. 3. Products built for easy B2B collaboration

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Consumer

People

FOUNDERS

Rajeshwar Mitra

Sudhir Jha

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO, FOUNDER: Rajeshwar Mitra

CTO, FOUNDER: Sudhir Jha

SVP Product Mangement: Raghunandan Mishra

SVP Engineering: ZM Shujauddin

employee: Rajeshwar Mitra(CEO); Sudhir Jha(COO)

TEAM COMMENT:

Both founders are significant experience in business management, technology, banking & financial services,product,services development Team comprised of experienced,accomplished members who have built successful products. Created eco-system of partners in specific areas to accelerate development (EMV Co), Security. Build a strong network of electronic manufacturing service (EMS) vendors in Taiwan, Singapore,Japan.

BOARD MEMBERS AND ADVISORS:

Peter Relan, Sudip Nandy

INVESTORS:

Raja Bose

Momentum

FUNDED

NO

TOTAL FUNDING:

$1.65 M

LISTED

NO

FUNDING SERIES
Seed Jun 2017 --- USD1.65 M at a USD7 Mvaluation Comment on Seed Currently open Note Round converting to common stocks @ 25% discount at qualified financing. Raised $1.65 M overall.

Comment on Valuation

current pre-money value MAPE Studio 9Plus