Photo - BankApply
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BankApply

Helps businesses and individuals to open accounts in EU

Estonia
Market: Financial services
Stage of the project: Operating business

Date of last change: 10.08.2020
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Idea

BankApply helps businesses and individuals to open a bank account in Europe by matching the client profile with suitable banks.

We increase the chances of getting a bank account in Europe by approaching the right banks, and we save time for applicants by filling and submitting the account opening applications on Client’s behalf.

Current Status

• Growth stage and working to ramp up acquisition marketing
• 6 employees in Tech, BD, Finance, Marketing and PR
• More than 1500 subscribed customers

Market

• All foreign users that want to open bank account in EU both private and business accounts

Problem or Opportunity

• Huge demand for users that want to open bank accounts in EU
• Complicated market and high commission fees
• A lot of customer frustration due to getting rejected from traditional banks

Solution (product or service)

• Focus on Matching Engine - a way to take inputs from clients and finding the best possible offers from Banks and FinTechs

• Legal service - in-house lawyers that help client with gathering document and applying to banks

Competitors

- No real competitors in the space (only smaller aggregators)
- FinTechs are in-direct competitors because they can provide services to our customers

Advantages or differentiators

- Increased approval rate vs. traditional banks
- Faster application process - takes 3 days to make decision
- Lower fees with most of our partners

Money will be spent on

Acquisition marketing

Team or Management

Photos

Photo 1 - Helps businesses and individuals to open accounts in EU

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video