“We’ve launched the ICO without any pre-marketing believing that the product is so strong that it will sell itself. The community quickly understood what we’re building and immediately saw tremendous value in it. Our team are working incredibly hard to perfect the product and we’re beyond happy that it resonates with our users. We’re also humbled with the warm reception we have received from the community and the trust that over 1,500 community members have placed in us by contributing to the ICO.”
Roadmap use of fund from crowdsale
- 35% – R&D and Product Development Includes opening of an R&D center in Shenzhen with approximately 20-30 engineers.
- 20% – Marketing and Customer Acquisition The marketing budget is not significant compared to the target number of customers we intend to acquire. The key source of new customers is going to be word-of-mouth, as the product gives users a very strong commercial incentive to download the App and get the Monaco VISA® Card. There are natural network effects built into the product around the P2P money sending function, which will lower the average customer acquisition cost (CAC) substantially.
- 15% – Initial Capex, including costs of e-Money licenses, compliance and architecture setup Some of our key partners are listed in section 4 of the document. There is a substantial cost associated with integrating all those partners, acquiring all the necessary licenses across multiple jurisdictions, building out compliance teams, legal fees and general technical architecture setup.
- 30% – Working Capital Our product – the first and only Universal Money App – is bridging the gap between the worlds of crypto and fiat currencies. In order to offer our users real-time access to funds and perfect exchange rates without mark-up, we will have to bridge funding gaps between multiple parties using our own balance sheet
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