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Technology

VitraCash

Status: Funded

Apr 13th 2021 - May 5th 2021

VitraCash aims to offer a smart debit card and application that automatically chooses the best card for every transaction using its AI-driven algorithm. The company argues that using the wrong payment cards while travelling costs Britons £1.4 billion per year worth of losses. VitraCash argues that its algorithm can prevent this situation from happening via its application. It aims to be a contender in the cards & payments industry that is expected to touch $909 billion by 2023. The company is in discussions over contracts with card issuer Monavate, US-based card processor Marqeta, and Acquirer CashFlows. Its algorithm and app are in closed beta and the company intends to launch the same in July 2021. VitraCash will use the investment to cover the estimated costs for its card processing and development to launch VitraCard in July 2021.

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VitraCash Rating Review

Pitch rating powered by CROWDRATING

Rated on 30/04/2021

Pitch Rated

48%

Insufficient Data

Management

83%

Product

61%

Investment

UNRATED*

* Section unrated owing to insufficient or incomplete information available at the time of rating.

  • £322,693
    pledged
  • 645%
    of goal

    £50,000
    target

    £1,800,188
    pre-money valuation

    2.70%
    equity available

    997
    investors

    £324
    pledge per investor

    12854518
    company number

    Active
    company status

    03/09/2020
    incorporated 8 months

    £0.09
    share price

    Previous Funding rounds
    13 Apr 21 Crowdcube £322,693 / 645% 48.00%

What the ratings mean

  • 49% and under
    We suggest potential investors carry out further study of their own
    50-64%
    Room for improvement
    65-79%
    Worth considering
    80%+
    Gold rating, our highest rating

RISK WARNING - The ratings are based on the information provided in the fund raiser’s pitch deck, business plans and financial forecasts which have appeared on a FCA regulated crowdfunding site. Where possible we validate the business plan to public sources such as LinkedIn, Companies House, Credit Agencies and internet searches. We cannot guarantee the information is correct. The ratings report takes no account of the investors/ individual circumstances. Do your own due diligence and get professional advice before investing. Your capital is at risk when investing in private companies.

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Management 83%

Skills 91%
The VitraCash management team includes skilled professionals whose reported LinkedIn profiles include expertise in management, technology, and finance. It consists of an experienced Founder/CEO, COO, and VP of engineering and a Social Media and Marketing head. The Founder/CEO is proficient in product development, risk management, fintech, payment systems, and finance. He also has a patent registered to his name and has prior experience working at the same stage of business growth. He also handles the company's finance department. The COO is skilled in user experience (UX), interface design, data analytics, and start-ups. The Social Media and Marketing head can build the brand and increase brand awareness through product management, digital marketing, social media marketing, and new business development.

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Funding progress



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  • £322,693
    pledged
  • 645%
    of goal

    £50,000
    target

    £1,800,188
    pre-money valuation

    2.70%
    equity available

    997
    investors

    £324
    pledge per investor

    12854518
    company number

    Active
    company status

    03/09/2020
    incorporated 8 months

    £0.09
    share price

    Previous Funding rounds
    13 Apr 21 Crowdcube £322,693 / 645% 48.00%
  • Internet Business Awards Category Award Winner 2015
  • Hertfordshire Business Awards Finalist 2014

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