Friendsvow Executive summary

1. (FRIENDSVOW LLC)
(Colyns Ehys)
(Address: N0 4 Agungi, Lekki, Lagos, 101222)
Phone: 08034800487
Email: colyns@friendsvow.com, colynehys@gmail.com Web Address: www.friendsvow.com
Business Description:
Friendsvow Incorporated is a social financial technology platform, the Internet Bank of Financial
Credit Powered by Blockchain Technology, using the African system of community credit, we have
been able to perfect a system and process of community and cooperative credit, that makes it
possible for anyone to a create a line of credit with Friends, family, colleague, Peers and
Cooperative Associations, Our Algorithm using the Blockchain Technology Ensures that no one
can defaults on repayment of this line of credit.
Company Background: Friendsvow Inc was officially registered in 2012, as a financial
technology Company, to create the Internet Bank of Financial Credit, using the African system of
community credit, Friendsvow has now mastered and perfected that system online, to ensure that
anybody at any time can create form a cooperative or join existing cooperative to create this line
of credit for themselves with their members without the fear of default.
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Management: The Management Team is led by Colyns Ehys as Founder, Mark Mishael as
Director of Operations, Joshua Ejiofor as COO, Ibrahim Bitrus and Kamal Salaudeen as Software
Engineer
Products/Services: Revenue model - Transaction processing – Differentiation between personal,
groups and business accounts–Personal accounts are free; they can only do what other users in a
regular social network platforms can do.
–Group accounts will be charged 1.5% + 15cents per transactions
–Business/premier accounts are charged 2.00% of incoming funds +30 cents per transaction
Advertisement from companies, NGOs, Organizations who wants to draw attention to their
causes, celebrities who wants to their projects to be contributed towards.
Easy transition & use of existing infrastructure
Our Competitive Advantages.
1. No Interest rates, 2. Cash is Guaranteed when Due.3. Unlimited mode of application, 4.
Paying yourself an overdraft way bigger than any bank might give you is honestly,
unquantifiable.
Technologies/Special Know-how: Our IP is protected in the United States and Nigeria
patent office as the first and only financial technology system that can guarantee zero% default on
repayment of a line of credit by groups or people using our system of financial contribution, We
aim to be the Internet bank of credit, democratizing access to financial credit at any time, we have
more than 20 years of research in developing and perfecting this system to get to where we are
now.
Market: Employees of Government, Corporate Organizations, Cooperative bodies, small
business owners, Students in Tertiary institutions, anybody with a social media account, especially
Facebook, Twitter, LinkedIn, Google plus, our process is so simple that if it is legal for a 12 year old to
create a line of credit they will be able to do it
Distribution Channels -Easy transition & use of existing infrastructure -Word of mouth marketing and mixed
money pull. -Popularity of the social networking genre mixed with payments with online friends group contribution
without fear of default will appeal to a wide audience , we will incorporate what has been popular already and makes
it more appealing -Dichotomy between business, groups and personal accounts will creates demand
-New recipients must register and get a trusted verified payment platform to receive funds, this is to build
confidence, in Friendsvow, and when users see they are going to get the funds to the already known payment
platform, they will have no option but to extend that trust to Friendsvow –Blockchain Technology for secure, simple
and transparent transactions
Competition: - Puddle.com -Branch.co -esusu.org –DiamondBank Esusu – SterlingBank Social Lender, riby.me
- Moneyme.ng, none of these Fin tech platforms can guarantee zero% default, because they are all trying to
copy our model without success, before Financial technology Started to be a Brand Name FRIENDSVOW
have been championing the campaign since 2009 researching and perfecting our system, but because of the
environment we live, it has been a difficult challenge to fund the process, however me make bold to say we
are Among the first Fintech Company in Nigeria, Africa and the world and we have the Data to prove it
Management:
CEO
VP Sales/Mktg.
VP Product Development
CTO
CFO
Industry: Financial
Technology Blockchain,
Financial Savings, Lending,
Social Network.
Number of Employees: 5
Bank:
Auditor: Charles Nwokolo,
Chartered Accountants
Law Firm:
Amount of Financing
Sought: Equity Investment
Current Investors :( $Amt.
Invested) Personal Funds,
Committed Investment of
$500k USD by TARMAC
ACCELERATOR in San
Francisco
Use of Funds: i.e. Product
development,
marketing/sales,
distribution, Infrastructure
Development…