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fintech_mom Profile picture
@FintechMom
Aug 27, 2020 • 7 tweets • 3 min read • Read on X
Binance: 0 to crypto-Unicorn in six months

Thread 👇

#fintwit #cryptocurrency #Crypto #startup #unicorn
1/What is it?

Binance is an exchange platform for trading cryptocurrencies...probably the biggest.

Founded in 2017, it raised $100-M through initial coin offering and $10-M in venture funding.
2/Business model

Trading fee per exchange begin at 0.1%. The trading fee drops if you are using BNB.

Average daily trading volume: 2-billion!
3/Growth

It reached a valuation of $1-B within 6-months.

In addition, Binance have their own tokens BNB which are valued at ~1B for the insiders. Image
4/Financials

Estimated $550 million in profits in 2019.

Binance is growing to other countries:
* partnered with Israel-based payment processor Simplex,
* acquired India's biggest Crypto Currency Exchange WazirX
5/Bottomline

Binance has a superior tech team led by CEO Changpeng Zhao, something money (or BNB) can't buy.

But there are challenges:

* Ryuk, a ransom-ware, thought of stealing $61 million

* Risks from future cryptocurrency regulations

* Corporate governance
6/ Sources

Irishtech bit.ly/3lin24d
Crunchbase crunchbase.com/organization/b…
Cointelegraph cointelegraph.com/news/cz-says-b….
Wikipedia en.wikipedia.org/wiki/Binance
forbes: forbes.com/sites/billybam…

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More from @FintechMom

fintech_mom Profile picture
Sep 22, 2020
Flipping Unicorn? @Lendinghome

Thread 🧵
1/ Intro

Lending platform for real estate

* borrowers looking for bridge loans to fix and flip real estate properties.

* Institutional investors and accredited investors looking to invest
*Important* it is not a crowdfunding or peer-to-peer platform.

Lendinghome uses its own capital to originate loans.

It then sells whole loans to institutional investors or issues “Platform Notes” .
Read 13 tweets
fintech_mom Profile picture
Sep 7, 2020
@openfintech OS for financial applications

Thread 👇

#fintech #fintwit #startup
1/Intro

Finance professionals end up using several separate platforms simultaneously creating execution inefficiencies.

OpenFin provides an integration platform for financial programs enabling rapid and secure deployment, native experience and desktop interoperability.
2/Business model

Community licence: The Community license lets you run your apps with OpenFin OS for free, including for commercial purposes.

Enterprise: OpenFin charges a licensing fee
Read 7 tweets
fintech_mom Profile picture
Aug 29, 2020
@Riskalyze do you know your risk number?

If you want to know more about the high growth startup 👇
1/Intro

Offers software for financial planners.

Referred to as Risk number, helps identify risk appetite for investors and then use that information for directing investments.

* Automated trading

* Partner store integrating models from other asset managers
1a/ Risk number

Get your risk number here
go.riskalyze.com/start-rq

You want to find math behind risk numbers
rossifg.com/math-behind-th…
Read 8 tweets
fintech_mom Profile picture
Aug 22, 2020
Get to know a Fintech Unicorn: Transferwise, .

Thread 👇
1/Intro

@TransferWise mission is to bring down the cost of international money transfer.

Founded in 2011 by two friends from Estonia, Transferwise is a Fintech Unicorn with total investments > $1B.
2/Business model

Compared to conventional money transfers where fees are hidden in marked-up exchange rates, Transferwise promises to be transparent.

It charges a fixed fee of $5 per transfer and .67% of the transfer amount.
Read 6 tweets
fintech_mom Profile picture
Aug 21, 2020
Going to cover Fintech startups in 3 tweets: business model, target market, valuation, customers.

Here are a few...add any you would like to see covered.
@TransferWise
@binance
@Riskalyze
@openfintech
@lendinghome
@NerdWallet
@BalanceCredit

#fintech #startup #fintwit
@openfin @fintechna thread on @TransferWise

@binance cryptocurrency exchange unicorn
Read 5 tweets

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