Fastsusu

Fastsusu is revolutionizing the way people save and access funds through the power of community. We're bringing a traditional, secure method of collective saving into the digital age.

- Joined Capital Factory's investment portfolio in November 2020
- Partnered with API providers Dwolla & Plaid Inc.
- 1st place winner of Startup Coil LA Pitch, 2nd place of Volition’s Global Pitch event & Ion X Dell participant.
Website views: 10K+
Social Media Followers: 1k+
Newsletter subscribers: 600+
Total (iOS 836 + 36 Android) Mobile downloads: 866+
Number of created accounts: 609+
Total number of app subscribers: 30+
Total subscription revenue generated: ~$700


customer and/or user data: We have successfully onboarded over 600+ active users since launching our MVP, with a consistently growing user base each month.

Partnerships: We have established strategic partnerships with leading fintech services like Plaid and Dwolla, enhancing our platform's capabilities in secure financial transactions. Additionally, we're exploring opportunities with major credit reporting services.

1. Individual Savers: People looking for disciplined savings mechanisms outside traditional banking.

2. Immigrant Communities: Individuals fr om cultures wh ere rotational savings groups (like ROSCAs) are common.

3. Financially Savvy Individuals: Those interested in maximizing their savings and accessing funds without the high interest rates of credit cards or loans.

4. Social Groups and Communities: Groups of friends, family, or community members who trust each other and want a structured way to save money together, possibly towards a common goal."

Fastsusu addresses the financial exclusion of unbanked and underbanked populations by providing a secure, digital platform for community savings and lending. This platform overcomes inefficiencies, lack of transparency, and security risks inherent in traditional savings circles while offering affordable access to credit and building financial resilience.

Our solution to the core problem of financial exclusion and inefficiencies in traditional savings circles is Fastsusu, a secure and user-friendly digital platform that modernizes and streamlines community savings and lending. By automating contributions, record-keeping, and distributions, Fastsusu enhances transparency, reduces security risks, and provides affordable access to credit, thereby fostering financial inclusion and resilience for unbanked and underbanked populations.

Fastsusu faces competition from several fintech companies and traditional financial institutions that offer similar services. Some of the main competitors include:
1. Digit
2. Qapital
3. Chime
4. Acorns
5. Twine
6. Various ROSCA-based apps: Esusu and MoneyFellows
7. Traditional Banks
8. Yotta Savings
9. Money Pool by PayPal

Fastsusu's competitive advantage lies in integrating community-driven financial practices with advanced technology, offering a unique fintech solution. By deeply understanding the cultural significance of traditional rotational savings and prioritizing state-of-the-art security measures, Fastsusu effectively addresses current market needs and is poised to adapt to the evolving fintech landscape.

In our revenue model, we employ a hybrid strategy that melds subscription fees with transaction-based earnings. Here’s how we generate income:

Subscription Fees: Our users subscribe to access the platform, paying a regular fee that grants them entry to the platform with a suite of features; including secure transactions, peer-to-peer lending, social features, flexible saving contributions, and transparent group management. This subscription model not only provides a consistent revenue stream but also aids in our financial forecasting and planning.

Transaction Fees: Beyond the subscription, we earn by taking a small percentage of every transaction carried out on our platform. Whether it’s contributions to savings groups, withdrawals, or other financial activities, these fees grow in parallel with user engagement and transaction volumes.

This dual-stream approach allows us to build a robust and scalable financial foundation, ensuring we deliver value directly to our users while fostering our platform's growth and development.

Fastsusu is leveraging technology in several key ways to scale efficiently and create a competitive moat, ensuring it stands out in the financial services market, particularly in the niche of rotational savings and lending. Here are some strategies and technologies that contribute to its success:

Advanced Security Measures: By employing state-of-the-art encryption and cybersecurity measures, Fastsusu ensures the safety of its users' data and transactions. This not only builds trust with its user base but also sets a high standard for competitors.


Automated Processes: Automation plays a crucial role in scaling operations efficiently. Fastsusu uses automated workflows for user verification, payment processing, and notifications. This reduces manual workload, minimizes errors, and enhances user experience.


Mobile and User-Friendly Platform: A robust, user-friendly mobile application allows users to access their accounts, make transactions, and communicate with their savings groups easily. This accessibility is crucial for scaling, as it ensures that users can engage with the platform from anywhere, at any time.


Integration with Fintech Services: Collaborating with other fintech services like Plaid or Dwolla for secure and efficient financial transactions creates a seamless user experience. These integrations enable users to link their bank accounts safely, making contributions and withdrawals straightforward and secure.
Community and Education: Fastsusu invests in building a community and providing educational resources on financial literacy. This not only aids in user retention but also attracts new users who are looking to improve their financial health. A well-informed user base can lead to more stable savings groups and lower dropout rates.



At Fastsusu, we're leveraging technology to redefine the landscape of financial services, with a keen focus on the niche market of rotational savings and lending. Our approach leverages advanced technology and key partnerships to efficiently scale and establish a strong competitive advantage.

Here's how we're achieving this:

We leverage technology and strategic fintech partnerships, including Plaid and Dwolla, to revolutionize the rotational savings and lending market. Our platform automates the traditional savings process, offering seamless user verification, payment processing, and group management, which significantly reduces manual efforts and enhances user experience. We prioritize security, employing two-factor authentication, advanced encryption, and fraud prevention measures to protect our users comprehensively. Our mobile app, accessible on both iOS and Android, ensures universal access, allowing users to manage their finances and interact within savings groups effortlessly, anywhere and anytime. As founders who deeply understand susu's community-driven essence, we're dedicated to nurturing a vibrant community. Through educational resources and fostering interaction, we empower our users for informed financial decisions, supporting the growth and sustainability of rotational savings communities. This holistic approach not only sets a new standard in financial services but also solidifies our competitive edge in the market.

Marketing, Operations and Product improvement.

Equity

Capital Factory

1st place winner of Startup Coil LA Pitch
2nd place of Volition’s Global Pitch event & Ion X Dell participant.