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+
