Photo - Torus
56633

Torus

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

Date of last change: 25.10.2022
Go to the owner's profile
2
equalizer from 2000
help
Calculated and estimated occupancy of the project (more about ratings)
My rating
1
2
3
4
5
6
7
8
9
10
Average rating:
 

Idea

Torus is a SaaS intelligence platform for banks to boost their profits on card transactions

Current Status

We have solid early traction in Europe from customers such as Societe General, Advanzia bank and Payabl along with 50+ leads in the funnel and active expansion into other geographies, like US within the Alchemist Acceleration program.
For the last 12 months our customers revealed over $7M of cost saving potential by using Torus solution
We grew the team from 3 to 11 in the last 9 months and also hunted best talents from prospect competitors.
We’re now at $13K MRR, which doubled YTD (23% MoM)
Demo calls are growing at 53% MoM

Problem or Opportunity

Banks are usually known for overcharging their customers due to very complex fees
But at the same time they also suffer from the lack of transparency within thousands of fees received from the payment schemes like Visa and MC which are also rapidly changing over time.
This is magnified by the manual processes usually used within the banks to analyze this area.

Solution (product or service)

Torus platform helps banks to preserve up to 20% of profits at a fraction of costs by saving costs on the fees paid to card providers and more granular control on payments profitability
We consume native data formats by the schemes to provide banks with
New level of transparency of payments costs and profitability control
Ongoing intelligence to optimize profits and ensure that banks will never be screwed up by the lack of transparency on their payments businesses
Data enrichment to enable interchange++ for acquirers and dynamic pricing for BaaS providers

Business model

We charge commission based on the cost saving potential revealed for the customer + upsell other SaaSs via subscription
ACV is $100K+

Incubation/Acceleration programs accomplishment

Alchemist
Startup Wise Guys
5,00
1
2
3
4
5
1 voice
Sign in/Sign up
arrow_back
EN
more_horiz
close
visibility332
star0
Add to favorites
Delete from favorites
share
close
thumb_up0
Like
Unlike
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
Product Video
Presentation