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FIRE Investment

Investors one-stop shop solution

Italy
Market: Information and media, Financial services, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 19.02.2022
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Idea

Fire wants to be the one-stop platform for investors to manage their portfolios cross-platform, aggregating also social and traditional media using our AI algorithms to customize users experience

Current Status

Currently in Pre-seed round, we are in the product development phase.
We are supported by FoolFarm, a deep tech venture builder which will support us untile the Seed Round (end 2022).
The focus on our first year will be on 2 modules: Portfolio and Information aggregation, with a B2B go-to-market strategy

Market

- B2B: Financial Institutions, in particular those which offer investment services
- B2C:
> Early adopter: current investors, under 50 years old [1.1M people in Italy]
> General adopter: investors, every age [15M people in Italy, 160M in Europe, 100% in 2020]

The general market is estimated at $ 25T with 6% CAGR. Niches like wealth management and crypto are worth respectively $ 1.1T (10% CAGR) and $ 3T.

Problem or Opportunity

In the last decade the FS have changed, 4 major trends:
- Democratization: lower fees for everyone
- Decentralization: crypto and DeFi
- Social wisdom: the rise of social media (e.g. GameStop case, Twitter crypto Team)
- Open Finance: by 2024 the EU will complete its OF framework

But a problem has risen from all of this: extreme fragmentation within the FS.

Solution (product or service)

FIRE will be the first Financial Engagement Platform: allowing users to access the entire financial ecosystem in a new way.
Not only end-to-end access to their finances, but access to traditional and social media information as well.
All powered by a personalized experience leveraging our AI Investment Digital Twin

Competitors

Portfolio aggregator:
- Delta: crypto portfolio aggregator startup acquired by eToro in 2019, with 1.5M customers
- ShareSight: traditional portfolio aggregator startup, with 0.4M customers
News aggregator:
- Seeking Alpha
- Investing.com

Advantages or differentiators

- Union of the 2 worlds: portfolio and news aggregation
- AI algorithm to personalize news content
- Aggregation of social media as well as traditional media

Finance

Revenue:
- B2B: one-off fee for PoC development and integration + annual fee
- B2C: Freemium model with 2 tiers + Pay-per-use
- B2C2B: fixed/variable fee on third parties' products acquired by customers

Cost:
All first year activities (from IT dev to legal) will be covered by FoolFarm, our Venture builder partner. The only other costs will be related to the salaries of the CEO and CTO (selection ongoing)

Business model

- B2B: integrate our modules (portfolio aggregation, information aggregation, social aggregation, learning, product personalization, portfolio automation) into our partners platforms (one-off fee per integration + annual fee for maintenance)
- B2C: Freemium and pay-per-use model
- B2C2B: placement of personalized products by our partners to our customers in exchange for a flat/variable fee

Money will be spent on

- 53% product development
- 38% HR and other
- 9% marketing

Offer for investor

We are raising 300k with a 2M pre-money valuation.
We have already gathered 70k in soft commitments.

Team or Management

Risks

- Behavior of competitors that might decide to compete
- Difficulty in scaling on the B2C

Incubation/Acceleration programs accomplishment

FoolFarm Venture Builder, Garage Program

Won the competition and other awards

No participation in competitions at the moment

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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