Blaze 💸

Event Alert

• We're excited to share that Bulletpitch is heading to Los Angeles on October 17th to host an exclusive event in a sprawling penthouse. See more details below.

Setting the Scene

• While there is a Venmo or similar type of payments platform in every market, there isn’t a universal platform for all markets.

• Downfalls of current global money transfer platforms include:

  • Compatibility issues: Apps that work in one country often aren't compatible with apps in another.

  • Exorbitant fees: Services charges, hidden costs, or inflated exchange rates get expensive. 

  • Cumbersome UX: Complex verifications, multiple steps, and long processing times can often create friction.

• This week’s company enables individuals to pay anyone anywhere with any currency.

In a Sentence

Blaze is a global payment app, for users and businesses to instantly send and receive money to anyone at low-cost transactions.

• Global: Global payments are made simple by accommodating multiple languages, currencies, and payment methods.

• Businesses: Blaze enables a network of travel-related businesses to accept payments and reach a customer base of global citizens.

• Instantly: Built on Blockchain technology, Blaze enables lightning fast money transfers, completing transactions in a matter of seconds.

The Basics

• Industry: Fintech, Digital Payments

• Headquarters: Mexico City, Mexico

• Year Founded: 2023

• Employee Count: 5

• Investors: Y Combinator, Stellar Development Fund 

• Amount Raised: $960k and gearing up to close the seed

• Business Model: Withdraw fees

• Early Traction: $6K/week transaction volume, 37 Signed LOIs, 3,000+ on Consumer Waitlist, Secured VASP in EU and MSB in US, Live in Mexico and US, Upcoming launches in Columbia, Brazil, and Argentina.

IN PARTNERSHIP WITH

• The ARK Venture Fund is taking an asset class once reserved for the accredited, ultra-rich and making it available to all US investors.

• ARK offers investment exposure to companies like SpaceX, Epic Games, Figure AI, Anthropic, and more! See the portfolio here.

• You can invest in the ARK Venture Fund (ARKVX) for as little as a $500 minimum initial investment.

• All U.S. self-directed investors can download the SoFi or Titan app and invest in the ARK Venture Fund (ARKVX) now.

The above button will also contain a prospectus and fund risks. Foreside Fund Services, LLC, distributor.*

Due Diligence

WHAT WE LIKE

• Market Opportunity: The cross border P2P payment market is expected to reach $9T by 2030, positioning Blaze to successfully fulfill consumer demand by providing a scalable solution for global money transfers.

• Go to Market: Blaze’s initial target market are the 320M digital nomads and expats, which at a few withdraws a year could be billions in revenue.

• Beyond P2P: The platform enables a network of travel-related businesses to accept international payments, tapping into a broader network with additional revenue streams.  

POTENTIAL RISKS

• Adoption: Despite low-cost transaction, gaining widespread adoption for a new payment tool can be challenging.

• Regulatory Uncertainty: Cross-border payments are subject to complex and evolving international financial laws, which could create challenges for Blaze’s expansion.

• Competitive Pressure: Major financial institutions and fintech giants are continuously improving their cross-border payment solutions, creating, which could make it harder to capture market share.

Founder Profile

• Faiyam Rahman, CEO: Bachelors in mathematics and masters in engineering, previously built a $1M AAR startup.

• Luc Succés, CTO: Previously tech lead at Spotify and Artsy, 2 time VC backed founder: 1st hitting #1 on App Store, 2nd scaled to $1M AAR.

• Igor Zagnieński, Head of Design: Previously lead designer at BitPanda and co-founded Space Individuals.

Comps

• Sling.money: Backed by Union Square Ventures, Ribbit Capital, and Slow Ventures.

• Wind.app: Backed by Global Founders Capital, The Spartan Group, XRPL Accelerator, and others.

• Beam.eco: Backed by 1kx.

Event Board

• In October, we’re hosting a Startup Soirée in Los Angeles at a stunning venue with panoramic views of the city. It’s set to be an unforgettable evening with exceptional people, cocktails, live jazz, and breathtaking views.

Cast Your Vote

Last Week Today

• The Results Are In: Eterneva, a company that celebrates the lives of loved ones who have passed away by transforming a small portion of their ashes or hair into diamonds, was favored in last week’s poll.

• Subscriber Feedback: “This product has the potential to connect emotionally with a consumer-oriented demographic. I recently lost my mother and can feel the sway of this alternative memorial.”