FinTech companies are difficult to get off the ground. This case study is a deep dive into how Eytan managed to get to the seed funding round and marshal capital to go to the next level. Sramana Mitra: Let’s start by introducing our audience to yourself as well as NorthOne.
Guy Gotslak: We’re interested in providing fractionalized metals like gold and silver. We have plans to put that on the platform. Especially in times like this, more people are buying metals. Gold is doing well. That will allow us to stay stable. From a client standpoint, it helps people get access to diversification. Even if
Sramana Mitra: How many crypto traders are on the system? Guy Gotslak: We’re in the thousands so far. Each individual contributes a good amount because the average IRA that comes in is $25,000 to $50,000. We’re already in the thousands of users and growing. Sramana Mitra: What is your business model? Guy Gotslak: We take
Sramana Mitra: To what extent did the consulting business help you in this new project? Guy Gotslak: A lot. I was customer-focused. I wanted to get personalized services to our clients. We ended up getting acquired by a software company that does personalization where the idea is to help give personalized digital experiences. It can
Guy transitioned from being a hands-on developer to running a consulting company, and then eventually, to becoming a Crypto entrepreneur. In this interview, we discuss the nuances of his journey, as well as the trends in the Crypto world that are opening up opportunities. Sramana Mitra: Let’s start by introducing our audience to yourself as
Sramana Mitra: How did you get your first customers? Alex Armitage: We have some other businesses. A couple of them are e-commerce companies. We knew that space quite well. We knew that this was a problem. We had hundreds of relationships with companies in various industries. We had hundreds of contacts in that space. We
Sramana Mitra: The trend that I’ve seen in this market is, people zero in on one set of data and develop a set of heuristics based on which they are making these decisions. You look at Kabbage for example. They weigh heavily on online transactions. They are willing to lend against that transaction volume. That’s
Sramana Mitra: You started with the dozen beta customers who ordered the product in advance. You built the product. They came on board as paying customers. They brought on 400 to 600 prospects. Alex Armitage: That’s a simplification of it, but that’s essentially how we’re moving forward. It’s a huge problem. Thousands of companies are