WallEd

Digital wallet that, through basic consumption, generates savings for users who cannot afford them with their income.

WallEd is an Argentine startup that seeks to solve the problem of people's inability to save. Our goal is that people can create savings from basic consumption of goods. Walled acts as a link between businesses and consumers, giving cashback for their transactions to form a savings and investment fund. In addition, users have access to free educational content to improve their financial knowledge, motivating them to educate themselves and continue to do so through a reward system that can increase their earnings and withdrawal amounts in the application.

We use different technologies linked to artificial intelligence in order to keep user savings invested in liquid and low-risk assets. Our process follows a traditional purchase logic, they add a transaction registration step (automated through the app), as soon as the purchase is made with any means of payment, the user obtains his cashback of savings already invested in assets.

The problem that Walled solves is the difficulty for economically vulnerable people to generate or cope with savings themselves. Their income is completely oriented to day-to-day expenses and therefore they cannot separate and save money for their future. In Argentina, the population under the poverty line is 40.6%, which is equivalent to 18 million people; This implies that their salaries cannot acquire more than Argentina's basic basket (which includes the goods and services necessary to survive). The country's economy, inflation and informal employment are the main causes of this problem, resulting in consequences that families cannot project large expenses or investments in the future (such as vacations, acquiring a house, a car or other large cash outlay).

Our target population are students, workers and retirees; people who would fall into the category of "low economic income" and that all their economic resources are directed to the consumption of basic goods and services. These people do not have the monetary resources to be able to save, since they live with their money on a day-to-day basis and this affects their long-term saving abilities and financial planning.

We seek to impact their ability to save and face large future expenses (such as buying a home, a car, paying for studies, going on vacation, generating financial support if necessary, etc.) by providing them with a tool that through their use in their daily consumption, will generate savings and anger by accumulating and investing it, to increase its value.

Our solution was born out of the Shaping Horizons program, where we developed WallEd by focusing on the problem first. This context is not only something that affects the Argentine population, but also impacts our friends and close ones. In the team we have experience of volunteering to assist vulnerable areas (from the Semillas program, which is oriented towards microfinance, through Scouts Argentina and other volunteers), we have been able to study the situation up close and see it on a day-to-day basis.

In addition to this, we have generated field studies through surveys, early testers of the app, interviews with potential users and other tools that have helped us validate the tool.

We chose that stage because we are concluding the MVP. We have tested the first MVP with a base of 100 testers in our city and we have iterated on the second MVP that we currently have. We are venturing into mode.com, a platform for early users and testers, to continue gaining insights, while we are testing with more users in our city.

Our solution uses algorithms and AI linked to the detection of user behavior and geolocation to assign the necessary offers. In addition to our own algorithm to establish a period of possible withdrawal of money from users to mitigate risk and increase investment profit. We use education-oriented AI to guide our users in a better educational project that allows them to boost their cashback based on their educational profile. Our solution is developed in mobile technology and we use audiovisual resources for our users.

We have recently helped 100 people in the first MVP.

This year we plan to scale to 1000 users from the moment we have our first client. And by the end of the year we set the goal of helping 3,000 people.

WallEd Impact Goals by the end of 2021:

Give an average of 10% profit (above Argentine inflation) to our users, achieved through the financial tools used.
Achieve that at least 50% of our users have completed 1/3 of the objectives offered, by motivating active participation in the courses.
Get our users to make at least 1 transaction via Walled per month, through easy usability.
Achieve savings maintenance greater than 3 months in order to provide a minimum profit base for our users. This achieved through clear communication.

Within the goals of the objective "End of poverty":

1.4: By 2030, ensure that all men and women have equal rights over economic resources, as well as access to basic services, new technologies and appropriate financial services, including microfinance, among other things
1.a, which involves ensuring the significant mobilization of resources from a variety of sources, in order to provide adequate and predictable means for developing countries, in particular least developed countries, to implement programs and policies to end poverty. poverty in all its aspects
Regarding “Decent work and economic growth”:
8.2: defines achieving higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high value-added and labor-intensive sectors.
8.10: Strengthen the capacity of national financial institutions to promote and expand access to banking, insurance and financial services for all.
Reduction of inequalities:
10.3: Ensure equal opportunity and reduce inequalities in outcomes, including by eliminating discriminatory laws, policies, and practices and promoting appropriate laws, policies, and measures.

Market: high volume of indirect competitors that can confuse our users.

Financial: we have low own resources, we depend entirely on external financing and to quickly convert clients.
Techniques: We have not yet been able to incorporate a programmer into the team and we depend on external agents.
Legal: the Argentine context changes very strongly and quickly, the Argentine central bank could generate a measure that affects us.
Cultural: our users cannot see value in the solution if we do not communicate it well.

The current WallEd team is made up of its founding team. Generated in the Shaping Horizons program, our diversity of experiences and studies form a powerful team focused on solving the problem of poverty in Argentina.

Eric: he is a specialist in mass consumption companies. He works in market analysis for production companies and has been the winner of different awards oriented to the development of market analysis. He has been a scout since he was 10 years old and has always been linked and interested in the development of solutions with a social nature. https://www.linkedin.com/in/ez...
Francesco: works as the educational leader of the Junior Achievement team, an educational foundation aimed at training high school students in financial aspects. He brings experience in financial education and Marketing as he has a long history of studying and applying his knowledge in the field. https://www.linkedin.com/in/fr...
Matias is a B2B business consultant focused on understanding financial markets. He is also part of the presidency of JCI, an assistance and education organization where they seek to offer development opportunities that prepare young people to create positive changes.
https://www.linkedin.com/in/md...
Nicolás, is an expert in B2B commerce and startups in development. Passionate about developing innovative solutions, he works as BDR in a startup focused on opening job opportunities to blue collar workers. He has experience in developing projects aimed at solving social problems and has been recognized in different skills aimed at creating value for users. https://www.linkedin.com/in/ni...

WallEd currently has two groups of partners for development:

• Shaping Horizons community for the development and promotion of startups with social objectives.
• Banco Patagoia, Argentine bank, recognized us with an award and is a partner when it comes to banking our unbanked users.