Botbox provides its clients the opportunity to obtain all processes from getting information to taking action for the product & services via applications like WhatsApp, Facebook Messenger, Telegram, and In-app chat.
On another hand, we have a financial marketplace called Bankoff. It allows banks to publish their products for the customers and onboard users seamlessly through Botbox. The marketplace also provides end-users with a great user experience by collecting all banking products in a single place and allowing them to contact any bank through WhatsApp, Messenger, or Telegram.
While we were developing our product instead of pushing sales aggressively we focused on building our solutions with specific clients, considering each detail of business and customer onboarding processes. We have 16 enterprise customers mainly from the banking and finance industry. We made $141K in revenue and reached $10K ARR last year.
We have a very unique and efficient go-to-market strategy. Instead of entering B2B market, we launching our Bankoff Card product first in order to attract customers. Bankoff Card is a Visa-backed pre-paid card which 100% manageable with help of BO - financial chat assistant. The competitive advantage of Bankoff card is that it works with all major wallets - Apple Wallet, Google Pay, Samsung Pay & PayPal.
In the past 2 months, we attracted over 1400 customers from 8 different countries with zero spendings on marketing and featured on Product Hunt with Bankoff Card.
Problem or Opportunity
The problem is growing *gap between big banks which spends billions on technology and small banks which looking for ready solutions like Botbox. And the opportunity is changing the behavior of newer generations who love messengers and prefer lifestyle banking.
Solution (product or service)
We provide banks with omnichannel growth & communication platform built on Twilio technology. It helps them to acquire and serve new gen customers with fewer spendings for marketing and communication. And we provide new gen customers with a C2C financial marketplace where they are able to compare, choose and order the products that suit them best through messengers like - WhatsApp
As our approach is unique we don't have direct competitors but we inspiring by the following companies and consider them as competitors.
Slack, Zendesk & Pipedrive for Botbox Platform Credit Carma, Credit Wise, & NAV for Bankoff Transferwise, Revolut & ZELF for Bankoff Card
Advantages or differentiators
Two things make us stronger - We know where is banking is going and really good at building communication through conversational solutions.
Currently, we have 3 revenue streams;
SaaS model with Botbox products like Messenger, WhatsApp, Web, and In-App chatbot products with one-time deployment fee. -> https://www.botboxpro.com/pricing
Value-added product - Bankoff Card and commissions from customers' transactions and spending.
C2C marketplace leads and CPL model Currently available through BO - financial chatbot assistant -> https://www.bankoff.co/ and will be expanded a Bankoff web app in the upcoming 3 months.
We charge companies for using the Botbox platform as a growth & communication platform and also providing them with "pay as you go" model inside the financial marketplace to help them to obtain leads. Over $3M loans and 7K credit cards sold through our services so far. And more than 32K customers served with help of Botbox.
Money will be spent on
Marketing and Product development to reach $50K MRR till the middle of 2021
Offer for investor
Our exit strategy is reachable: It's +$4B to Twilio during the next 2.5 years