Date post: | 08-May-2015 |
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Technology |
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Total Access to cash and credit!
Cash payments anytime, anywhere
Kashmi is an Asian peer 2 peer service that facilitates the easy and safe transfer of cash between individuals through a simple social interface. Kashmi’s iPhone, Android and Web apps allow users to tap into their debit and credit to make on-the-spot payments, via cash-transfer, to other Kashmi users. Making cash transfers between Kashmi accounts is free. You can reload your own Kashmi account, from your debit or credit account, instantly.
Co Founder Chief Executive Officer Founder of Friskybox apparel brand, sold in over 100 stores & 9 countries. Founder Bed Hostels, a Sri Lankan budget hospitality chain Co-Founder www.charityapple.org, a charity focused crowd funding site & www.tasty.lk, a restaurant discovery site Vice President, Coutts & Co Bank Ltd Singapore Associate, Credit Suisse Singapore Bsc in Aerospace Engineering from Embry Riddle University
Chief Technology Architect 8 years experience Application Systems Architecting, Ruby, Node.js, Sass, CoffeeScript, mysql, sqlite, MongoDb, Nginx, mongrel, Amazon AWS, Git, Github, Ubuntu
Co Founder Chief Technology Officer Co-founder Saberion, a software development company in Sri Lanka Co-Founder, www.charityapple.org, a charity focused crowd funding site and www.tasty.lk, a restaurant discovery site Project Manager, Millennium IT (A London Stock Exchange Company) BA in Management & Finance from Nottingham University MA E-Commerce & Economics from Harvard University
Mobile Technology Lead 8 years industry experience. in the areas of architecture and programming, specifically mobile applications Masters in Information Technology from Carnegie Mellon University
Chief Operating Officer Vice President for Asia, Ubiquity University Country Director Sri Lanka, Relief International BA, International Relations and Public Policy, Princeton University Masters, International Relations and Conflict Management, SAIS, Johns Hopkins University MBA, National University of Singapore
UI & UX Architect 12 years experience as senior UI/UX designer Computer Programming degree from NIIT
The Team Rakhil Fernando
Randy Rathugama
Mufa Lukmanjee
Neesha Ravindran
Rajinda Jayasinghe
Indika Sampath
Co Founder & CEO Streetdeal.com.sg Singapore
CEO Efutures USA & Sri Lanka
Co Founder & CEO Beema Sri Lanka & Sweden
Head of Payments The Iconic Australia
Co Founder & CEO Saberion Australia, USA & Sri Lanka
Director Information and Communication Technology Agency Sri Lanka
Advisors and Investors
Greg Costamangna
Prashan Nagendra
Max Bergman
Tanya Juul Kjaer
Sanjiv Alles
Jayantha Fernando
What is the problem? Cash has always been the predominant tool in the exchange of goods and services. However, cash can be a limiting factor because: 1. Cash is not always readily available to pay friends/vendors.
(Poor ATM coverage, poor liquidity, no exact change)
2. Transferring cash between friends via bank transfer can be cumbersome. Often, these IOUs are forgotten.
3. Vendors/Sellers may not accept credit or debit cards. Both parties lose out.
Solution An app that allows you to make cash transfers between Kashmi users, via your smart phone, by tapping into your own debit and credit balance.
Problem " Between Friends"Between
Acquaintances"With Small Vendors"
With Individual Sellers "
No cash on me, why cant they take credit card?"
Security – I really should not be carrying so much cash!"
I’m never getting that money back"
I just lost a sale because the customer didn’t have cash!"
Need cash urgently, No ATM!!"
Its awkward to ask, but I need the money he/she owes me!
I never remember what I spend on. I wish I could track my spending better!
Common Problems, Kashmi Solutions!
A new payment system application in Asia that anyone can sign up for and transfer funds instantaneously. All you need is a bank account and a credit or debit card.
Credit your Kashmi balance with your debit or credit card
Kashmi is …
Cash out to your own bank account within 24 hours
Make payments from your balance to a friends balance for FREE
Application
Adding credit/debit card for crediting balance Transactions newsfeed Making a payment
Target markets for Launch … Kashmi will roll out in Malaysia, Hong Kong and Sri Lanka. These markets are ideal to launch Kashmi because of increasing numbers of active youth, young professionals and travelers. Card transactions (and volumes) are significant and on the rise. Financial regulations are comparatively low.
Malaysia Hong Kong Sri Lanka
Card Transactions Per Year 310 million 550 million 10 million
Card Volume Per Year USD 28 billion USD 87 billion USD 350 million
Population 29 million 7.5 million 21 million
Median Age 26.2 40 31.4
Regulation Level Low Low Medium
4%
CASHING OUT Users charged when cashing
out of Kashmi balance
CREDITING BALANCE Users charged transaction fee to credit Kashmi balance
FLOAT Annualized interest earned on float
Monetizing Kashmi…
3% 1%
FREE TRANSFERS Users can transfer money for free to each others profiles
0%
TARGET CUSTOMERS • Individuals, 18-40 yrs: Organic traction amongst students, young professionals and travelers • Small businesses, Independent workers, Individuals selling goods
User Acquisition Through wide exposure, Kashmi targets anyone that seeks easy cash payments…
Retail Activation • Key distribution partners
– Berjaya Malaysia, Cargills Sri Lanka
• Small business subsidies • Top up fee discount • Engaging with brand
evangelists – University campus activations
• High rating in App Store and Google Play store
• Achieving “Featured” status in App store
• Asian sports personality endorsement - advisory team enable us to do this at negligible cost.
• Social media and internet advertising
• Traditional mediums with max exposure / min cost
• Word of mouth
Advertising
Malaysia PayPal - Cumbersome sign up process, unintuitive mobile platform
and no social element M Money - Mobile operator solution which restricts users to their network DiGi
Hong Kong PayPal - Cumbersome sign up process, unintuitive mobile platform
and no social element Octopus - Mass transit card, which can be used to pay merchants. Not able to transfer funds to peers
Sri Lanka EzCash - Mobile operator solution which restricts
users to their network
Direct
Competitor analysis
In Asia, we would have 1st mover advantage.
However, this model has been very successful in the US.
Eg. VENMO
• Sold to Braintree for USD 30million 3 months after launch
• 2 years in operations
• USD 160 million in annual transactions
HIGH SECURITY
Our advantages
1ST TO MARKET FREE PAYMENTS EASY TO USE
IT’S FUN
No similar service in Sri Lanka, HK and Malaysia
Create account using Facebook profile & 3 steps to make payments
PSI compliant 256 bit encryption
Share your payments with friends in live feed and track spending.
Payments from one Kashmi account to another is FREE
FAST CASH OUT Transfer money to your bank account in 1 day
CREDIT / DEBIT
TECHNOLOGY Scalable cloud based product built on Ruby
Use your credit /debit cards to reload your Kashmi balance
Financial Forecast - Malaysia P & L Year 1 Year 2 Year 3 Year 4 Year 5
Transaction Volume $8,119,434 $28,989,221 $46,052,035 $65,114,320 $138,292,816
Revenue $491,900 $1,776,191 $2,833,733 $4,022,746 $8,575,713
Costs $283,355 $1,023,368 $1,632,763 $2,317,956 $4,941,603
Gross Profit $208,545 $752,823 $1,200,970 $1,704,790 $3,634,110
Gross Profit Margin 42% 42% 42% 42% 42%
Operational Costs $567,050 $763,990 $1,007,291 $1,278,512 $1,592,871
Operating Income $(358,505) $(11,167) $193,679 $426,278 $2,041,239
Finance Expenses $- $- $- $- $-
Profit Before Tax $(358,505) $(11,167) $193,679 $426,278 $2,041,239
Tax $- $- $48,420 $106,570 $510,310
Net Profit $(358,505) $(11,167) $145,259 $319,709 $1,530,929
The Malaysian roll out absorbs most of the setup costs. This is why the loss in year 1 is higher than the other markets.
Financial Forecast – Hong Kong P & L Year 1 Year 2 Year 3 Year 4 Year 5
Transaction Volume $25,181,909 $90,763,923 $143,161,191 $200,767,250 $422,433,520
Revenue $1,325,212 $4,781,280 $7,548,918 $10,596,807 $22,318,111
Costs $788,171 $2,843,216 $4,488,304 $6,299,490 $13,265,436
Gross Profit $537,041 $1,938,064 $3,060,614 $4,297,318 $9,052,675
Gross Profit Margin 41% 41% 41% 41% 41%
Operational Costs $303,100 $382,750 $473,615 $566,478 $672,650
Operating Income $233,941 $1,555,314 $2,586,999 $3,730,840 $8,380,024
Finance Expenses $- $- $- $- $-
Profit Before Tax $233,941 $1,555,314 $2,586,999 $3,730,840 $8,380,024
Tax $38,600 $256,627 $426,855 $615,589 $1,382,704
Net Profit $195,341 $1,298,687 $2,160,144 $3,115,252 $6,997,320
Financial Forecast - Sri Lanka P & L Year 1 Year 2 Year 3 Year 4 Year 5
Transaction Volume $1,969,288 $5,576,007 $8,221,383 $11,414,845 $15,285,319
Revenue $186,679 $533,860 $795,482 $1,116,785 $1,512,809
Costs $83,053 $237,851 $354,929 $499,032 $677,012
Gross Profit $103,625 $296,009 $440,552 $617,753 $835,797
Gross Profit Margin 56% 55% 55% 55% 55%
Operational Costs $219,000 $260,400 $326,360 $400,026 $476,591
Operating Income $(115,375) $35,609 $114,192 $217,727 $359,206
Finance Expenses $- $- $- $- $-
Profit Before Tax $(115,375) $35,609 $114,192 $217,727 $359,206
Tax $- $7,122 $22,838 $43,545 $71,841
Net Profit $(115,375) $28,487 $91,354 $174,182 $287,364