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 you talk about tokenizing real estate, a lot of people can’t buy a whole house. They don’t have enough for the down payment or maybe they don’t have good enough credit. By tokenizing real estate, you can buy a part of a house and you can do it at a click of a button.
>>>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 a transaction fee. We’re looking to expand our products into other assets as well.
>>>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 be on any channel. I just became passionate about being able to do that but still keep humans in the mix too.
Sramana Mitra: You stayed with the company that acquired you?
>>>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 well as to the company.
Guy Gotslak: I’m the President and Co-Founder of My Digital Money. I’m originally from Israel. I moved to the States when I was eight years old. I ended up studying computer science and engineering at UCLA. Then I went on to be a programmer for over five years.
>>>This bundle of courses is designed for IT entrepreneurs who want to start and scale a business in Latin America.
The Latin America startup movement has accelerated recently. We’re seeing lots of e-commerce in various domains, of course, but also FinTech, AgTech, even B-to-B SaaS.
>>>Lloyed Lobo, Co-founder and President of Boast.ai, discusses his failures and eventual success building AI startups. Wonderful conversation.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | Google Play | Stitcher | TuneIn | RSS
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 went to them and said, “We’ve done business in the past. We know this is a problem. How can we make this process easier?”
>>>