Trucard

digital cardsremittances

FOUNDING YEAR: 2016
LOCATION: India
Last Update: 17/07/2020

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About

Trucard infosolutions , registered in new Delhi, India is a startup whose innovative product is in the banking domain whose use cases can evolve into an industry vertical under banking and finance broad spectrum in long run. It uses the securitised card format against bullion as core tool to its innovation of create , use and transfer bullion fractions along-with currency as option to save, invest with liquidity.

MEDICI Analysis

Trucard provides a bullion based secured cards and bullion units transfer mechanism to account holders, merchants and individuals. It helps users by offering currency or bullion conversions of full or part balances at lower operation,transaction costs and subscription fees.

Focus

PRODUCTS & SERVICES

Trucard provides blockchain based Debit and Credit Mechanism which helps users in Real Time Bullion Updation, Asset Monetisatio, Currency Conversions etc. It allows retailers to do savings, investments, purchase, payments to add on cards by transferring of either bullion units or currency or both.

REVENUE MODEL

trucard will act as platform and product whcih will be available to the target segments thorugh the partner base of the banks, financial companies and bullion whole sellers and custodians who would keep the bullion in physical form to match the purchase by users. Its reenue head would include the same fees as that of credit cards, interest components or profit compnonents, license fees for platform, per user charges and transaction charges.

PRIMARY PROBLEM SOLVED

A combine of savings, investments and liquidity combine based in bullion asset class with mobility of your account with One Account logic for global living.

INTELLECTUAL PROPERTY

Patent(s) FILED

Traction

TRACTION COMMENT:

we are pairing with two private banks in India for the use case of credit against bullion and remittances offerings. The MoU for these pilot runs in offline and online modes will happen in the next two months.

People

BOARD MEMBERS AND ADVISORS

Dr.Rihan Suri

Sachin Khandelwal

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

Amit Shinde (CTO)

COMMENT:

We have developed the screens of the most complex flows,business logic which would otherwise take numerous programmers, coders,developers instead of just four of the team with one domain expert,other being the technical side.

Momentum

FUNDED

NO

LISTED

NO

EXIT STRATEGY

This seed funding investors can plan exit after two years when Series A and B funding are received at the valuations which are at least ten time more than current valuations

For Investors

FUNDING NEEDED:

$1 M

USES OF FUNDS RAISED:

1. Go TO market

2. commercial stage

3. creation of teams including Sales and Technical. hardware and software

EXIT STRATEGY

This seed funding investors can plan exit after two years when Series A and B funding are received at the valuations which are at least ten time more than current valuations

MONTHS LEFT WITH CURRENT CASH BURN RATE:

2 months from 21 Sep, 2017

COMPETITORS:

PayTM (their digital gold)

BASICS

FOUNDING YEAR:

2016

LOCATION:

India

Views:

63 VISITORS | 129 VIEWS

About

Trucard infosolutions , registered in new Delhi, India is a startup whose innovative product is in the banking domain whose use cases can evolve into an industry vertical under banking and finance broad spectrum in long run. It uses the securitised card format against bullion as core tool to its innovation of create , use and transfer bullion fractions along-with currency as option to save, invest with liquidity.

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

Trucard provides a bullion based secured cards and bullion units transfer mechanism to account holders, merchants and individuals. It helps users by offering currency or bullion conversions of full or part balances at lower operation,transaction costs and subscription fees.

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

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Trucard

About

Trucard infosolutions , registered in new Delhi, India is a startup whose innovative product is in the banking domain whose use cases can evolve into an industry vertical under banking and finance broad spectrum in long run. It uses the securitised card format against bullion as core tool to its innovation of create , use and transfer bullion fractions along-with currency as option to save, invest with liquidity.

Focus

PRODUCTS & SERVICES

trucard a credit and debit card mechanism (based on bullion) Bullion Account facility Borderless Payment mechanism

REVENUE MODEL

trucard will act as platform and product whcih will be available to the target segments thorugh the partner base of the banks, financial companies and bullion whole sellers and custodians who would keep the bullion in physical form to match the purchase by users. Its reenue head would include the same fees as that of credit cards, interest components or profit compnonents, license fees for platform, per user charges and transaction charges.

TOP PROBLEM SOLVED

A combine of savings, investments and liquidity combine based in bullion asset class with mobility of your account with One Account logic for global living.

PRODUCT DEVELOPMENT STAGE

MVP

PRODUCT DEVELOPMENT COMMENT

Angular JS 2 is essentially in use for developing the business logic and data base is also linked to match the same. We are currently trying to complete the use case of creating Gold A/c under remittances use case scenario and credit card functionality through its partner banks, remittance companies and agencies.

KEY DIFFERENTIATORS

its unique use of bullion as savings and transfer of its fractions inter-se users of trucard.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Enterprise - Retailers

Enterprise - Others

Small and Medium Business - Physical Retail

Small and Medium Business - Online Retail

Small And Medium Business - Other

Consumer

PRODUCT ATTRIBUTES

White label

Customer facing

People

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

CEO: Syed Kamran Razvi

CTO: Amit Shinde

employee: Amit Shinde (CTO)

TEAM COMMENT:

We have developed the screens of the most complex flows,business logic which would otherwise take numerous programmers, coders,developers instead of just four of the team with one domain expert,other being the technical side.

BOARD MEMBERS AND ADVISORS:

Dr.Rihan Suri, Sachin Khandelwal

Momentum

FUNDED

NO

TOTAL FUNDING:

$50 K

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES
Seed Aug 2017 Comment on Seed some more seed capital is being raised.

Comment on Valuation

valuation is based on the annual profit and multiplier of ten post test run in end of october 2017