Bankata

Risk no 1 - Commercial

Signing new partnerships in order to scale the business outside Romania

Probability: Low

Impact: High

In order to expand the business outside Romania we need to sign new partnerships with financial institutions from each geography. On average, implementing a new partnership takes about 3 months from the initial meeting.

A large number of the partnerships we already have implemented in Romania are signed on a regional level. Therefore, when we launch in a new country, we already have 8 highly reputable partners we can onboard from day 1. In addition to this, the profitable relationship we already have locally with large regional banks will increase our credibility in the market and aid in signing new partners.

Risk no 2 - Commercial

Low number of users

Probability: Medium

Impact: Medium

Launching in the region requires different marketing costs in each country.

In order to rely less on SEM (search engine marketing) and keep growing the business and our market share, we will focus more on affiliate marketing with local brands from different segments. One example is the partnership we have signed with Huawei in Romania and which can be expanded to other countries where they have a large number of users. Through this partnership all Huawei users looking for financial solutions through Petal search are forwarded to Bankata. Another partnership is with Edenred - Benefit app, where Bankata’s lending solutions are displayed on Benefit’s landing page providing us high quality customers as they all are employees of multinational companies.

Also, in order to tap into markets across the region without having to open an office in each market, we will take advantage of the current investment trend among eastern-europeans (mostly fueled by the Ukrainian conflict) that invest in real-estate in countries such as Spain, Dubai or Portugal. Bankata will serve as the bridge between real-estate agencies and banks offering mortgage loans for non-residents

Risk no 3 - Financial

Next round of funding does not cover the business needs

Probability: Low

Impact: Medium

We estimate that the next fundraising round will take place in 2 years time. Till then our target is to reach MRR 50.000 euro. This will come from both partnerships (existing revenue model) and app monetisation when users will pay a subscription fee.

Risk no 4 - Commercial

Competitors: Bank’s own apps or other European independent players 

Probability: Medium

Impact: Medium

As any other business field there will be high competition - coming from both banks or other fintechs that provide similar services.

Unlike banks, bankata app will always be independent and impartial, focused solely on customers' well being and not pushing products in any way. This is the main reason why users trust us more while at the same time we are able to deliver better accounts to our partners, accounts that they are unable to acquire from other sources.

Bankata will be the only app that combines a digital wallet with portfolio management and optimization by recommending products suitable for each client’s profile.

TBD