Ziglu

Idea

Introduction

At Ziglu, we've built a truly global account for the digital age: traditional and digital currency managed within one app, competitive and transparent prices across all currencies, and the ability to spend like a local instantly anywhere in the world.

We’re not a Bank, we’re better. Bringing the challenger bank experience to digital currency and bringing digital currency to traditional banking services. A unique modern-day account. At Ziglu you get competitive and instant access to both FX and digital currencies. You can spend any currency via our Mastercard debit card and your digital currency is automatically protected up to £50,000 against cyber-attacks.

Ziglu is authorised by the Financial Conduct Authority (FCA) as an EMI and is one of the first companies involved with digital currencies to be registered under the UK’s Anti-Money Laundering Regulations.

Ziglu previously raised £5.25 million in seed funding. This crowdfunding raise is part of a larger fundraising round.

Substantial accomplishments to date

CONTEXT

🚀 Led by Mark Hipperson the former CTO and co-founder of Starling Bank, we’ve built a team with a record of growing billion-dollar companies.

LAUNCH

🚀 Launched our app on Google Play Store and Apple App Store in June

SINCE OUR LAUNCH IN JUNE, WE HAVE ACCOMPLISHED A LOT AND MADE A HUGE AMOUNT OF PROGRESS:

🚀 We raised £5.25 million in equity so far with an oversubscribed Seed round.

🚀 Grown our community to 3500+ customers with an ever growing waitlist

🚀 Seen 3x user acquisition growth between May - July - achieved a daily record of onboarding a new customer every 3 minutes

🚀 Became one of the best-rated fintech companies in the World, achieving a 94% rating on TrustPilot

🚀 Are the only company to offer digital currency insurance up to £50,000 for all users

🚀 Seen customer trades (per day) grow 4.5 times since our first trading month in May to July.

🚀 Created a seamless and quick account opening process - under 3 minutes

🚀 Consistently offered a better price than competitors when trading lower value amounts (£500) of Bitcoin

🚀 Authorised by the FCA as an Electronic Money Institution and one of the first digital currency companies to be registered under the UK’s Money Laundering Regulations

🚀 Added functionality to allow customers to instantly send any currency held to contacts including GBP and cryptocurrency

🚀 Launched a Ziglu Mastercard debit card to make purchases with fiat or cryptocurrency

Monetisation strategy

Ziglu has multiple revenue streams through our diverse offering of services to our customers. Our aggressive product roadmap and international expansion plans also enables Ziglu to accelerate the development of additional revenue streams in 2021.

2020:

☑️ Crypto transaction fees (1.25%)
☑️ FX transaction fees (variable)
☑️ Card fees (interchange and international withdrawal fees (variable)

2021:

☑️ Premium services for a monthly subscription (e.g. extended insurance, FX & Crypto market monitoring features, higher complimentary international withdrawal limits... etc)
☑️ International payment fees via SEPA and SWIFT
☑️ White labelled financial and credit products to complement our existing proposition and meet the needs of our customers

Use of proceeds

The funds raised will be used predominantly in three areas:

PRODUCT DEVELOPMENT (30%) - We have an aggressive product roadmap that includes services such as FX accounts, improved crypto pricing, European instant payments, credit and split payment options.

USER ACQUISITION (60%) - So far, our marketing efforts have been minimal as we have successfully taken advantage of our early waitlist and grown our community organically. We will accelerate our user acquisition efforts through multiple new channels such as performance marketing, affiliates and offline marketing.

INTERNATIONAL EXPANSION (10%) - We have an established plan to quickly expand our operating regions into Continental Europe and North America. To execute on these plans we will require further investment into establishing regulatory requirements & regional teams.