Betriax
Historically, micro and SME lose money when they exchange currencies. Their financial health is the key for increasing welfare and wealth globally. When the foreign exchange market operates with transparency, companies trust.
Betriax is a spot foreign exchange marketplace where companies fix the exchange rate between them. They participate in the formation of the exchange rate directly in a 100% banked and digital model. So, companies abandon the old "exchange rate-taker" economic model.
Companies will be healthier to face challenges and create new jobs or support the existing ones. For example: exporters represent approximately one third of the GDP growth in countries in Latin America. Preserving jobs is mandatory for them. Thus, their gains through the exchanging will impact positively in their cash flows and get more resources per each dollar. Finally, those resources will be allocated efficiently and invested in training of employees and collaborators.
Micro, Small and Medium enterprises lose money when they exchange currencies. They lose between 1 per cent and 13 per cent approximately.
The traditional financial market and the foreign exchange market are governed by the rules of incumbents (traditional financial intermediaries, banks). Asymmetries of information are the key of this. Transparency, the solution.
Betriax democratize the access and increase the efficiency of a real foreign exchange market. In this context, enterprises can analyze and figure out how to create "their" price. So, it is a huge process where the new market, the disruption of Betriax, act as a catalyst to stop financial losses.
A marketplace where companies can fix the exchange rate between them. Transparency, efficiency and equality are pillars that promotes Trust in a 100% digital and banked environment.
In order to create awareness between leaders of Micro & SME, we had created a tool to estimate the max. amount of money they lose per year. This allow them to realize how to internalize efficient practices in their rationale and optimize their financial cash flows.
On the other hand, banks can improve the way they establish relationships with our clients. A new arrangement in the new market will inject the highest dose of efficiency trough competition. And, of course transparency will feed the virtuous cycle of formation of rational expectations.
Governments will be our supporters because the impact on the international trade sector (exporters). Betriax could be understood as a zero-investing public policy to increase the level of welfare.
Micro & SME in Latin America
Leaders of this enterprises
Employees
Employees´ families
Governments
Regulators
Banks
Other financial intermediaries
- Enable small and new businesses, especially in untapped communities, to prosper and create good jobs through access to capital, networks, and technology
To create positive impact on financial health of Micro & SME is our Mission. The alignment of interests of stakeholders is the key for the sustainability of the market. We establish different and deep relationships with each component of the market.
We put people and companies at the center. So, we understood and felt their "pains". After that, we design the highest platform to preserve the value of their efforts.
- Prototype: A venture or organization building and testing its product, service, or business model
- A new business model or process
Betriax is new market where companies decide and fix between the exchange rates. Companies will abandon the old model, the exchange rate-taker model to increase the level of welfare through the optimization of the exchanging, in a 100% banked and digital platform.
Banks and other traditional players in the market impose the exchange rate. Companies do not participate in the formation of the exchange rate.
Some banks consider Betriax a disruption.
We will use AI to predict the currencies curves of Money Demand.
- Ancestral Technology & Practices
- Artificial Intelligence / Machine Learning
- Big Data
Betriax
Putting in contact companies
Stopping losses in the foreign exchange market
Promoting the financial health of companies
Educating all the stakeholders to build trust and transparency
Having impact in the whole economy
Preserving existing jobs and promoting new ones
- Rural
- Urban
- 8. Decent Work and Economic Growth
- 9. Industry, Innovation, and Infrastructure
- 10. Reduced Inequalities
- 17. Partnerships for the Goals
We calculate than in 5 years we will serve more than 20 thousand Micro & SME.
The impact of improving the financial health of 20,000 companies is huge.
To align interest of public and private sector.
Our CEO experience is the key.
- For-profit, including B-Corp or similar models
3
All of us are entrepreneurs with solid backgrounds in business, software development, legal/regulatory matters, etc.
Scotiabank corporate accelerator
Start-Up Chile (Government of Chile)
We offer a peer-to-peer marketplace to Micro & SME to optimize their exchanging of currencies. This web-based platform is 100% banked and digital.
Our customers are companies but also traditional players of the market and governments are interested because the impacto of our business model.
- Organizations (B2B)
We are bootstrapping and we planned to get some grants from different champions in order to minimize other type of funding.
Now, we are after USD 1 M for the a runway of 18 months.