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Xcapit

Argentina
Market: Financial services, Blockchain, Crypto currency, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 22.09.2021
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Idea

Blockchain and AI-based solution that provides a simple and safe access to professional financial management tools. Allows people to learn in a gamified way.

Current Status

After 3 years of working on our smart algorithms for automated investing, we have launched our mobile app for Android and iOS operating systems, reaching over 3000 users in less than 1 year.
We closed our angel round in August 2020 for USD 450K in total. Over USD 612 K raised to date, from angel investors and a Canadian venture capital.
Users: 3157
Community: 6294
For the launch of the crypto wallet we launched a waiting list encouraging referrals.

Problem or Opportunity

In Latin America, high inflation and very low financial education is commonplace. Small savers do not have access to professional solutions to invest their capital, they must have a bank account and minimum capital to start.
What’s more, there are 1.7 billion people who don't have access to financial services worldwide and in Latin America, they represent 65% of the population.
There is a lack of savings culture and due to the lack of resources, families often do not have access to professional solutions to invest their capital.

Solution (product or service)

We are building our crypto, open source, self-custodian wallet along with UNICEF for reaching our global target. We are testing this product with Mexican and Argentinian users.
At Xcapit we believe that our personal finances should serve and contribute to our overall well-being and not the other way around. Leveraging blockchain and artificial intelligence, we aim to revolutionize the way we interact with money.
With our solution, we are contributing to the development of a culture of savings and promoting financial education among children and young people.
A blockchain and AI-based solution

Business model

Our business model is B2C. Users can educate themselves, donate, and hold their cryptoassets in our wallet for free, but when they buy / sell cryptocurrencies or when investing, they pay a fee. Our revenue streams are:
a- 0.5% annual fixed fee of the AUM (charged by the smart contract automatically)
b- 10% of annual profit fee (charged by the smart contract automatically). We earn if our users earn.
c- 0.9% commission for on off ramp (when they buy/ sell crypto from fiat money, through our 3rd partners)
d- 40% trading commission rebates from Binance, as we are official Brokers of Binance

Incubation/Acceleration programs accomplishment

Founder institute Founder LAB
Founder institute Incubation
UNICEF Innovation fund - current cohort
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