Invest in Fazil

The majority of banks and neobanks seek their users to direct payroll and monthly bills and compete to attract customers with excessive acquisition costs. 

At Fazil we opted for a business model that seeks to increase the happiness of users by rewarding their happy day-to-day spending through Cashback. This means that we do not compete for you to bring your salary (although you can also), but because you pay your day-to-day expenses with your phone. Therefore, we do not compete against traditional banks, but we complement them so that you can have greater order and improve your financial health.

It is an anglicism that has come to stay and simply means that we give you money back for buying.

The operation for the user is very simple:

1. You review the businesses with which we have Cashback agreements (there are already more than 2,000).
2. You buy with your Fazil card at the merchant.
3. You receive a % of the purchase in your account instantly (in products that can be returned, it is entered at the end of the return period).

It is a model in which the merchant wins since we communicate it among our community of users. The user wins because he receives money in his account after each purchase. At Fazil we win because we keep a small commission from that cashback after each purchase.

Until now, we have focused on generating an attractive product and validating its use. We recently began to implement the first ways of monetization under the philosophy of not charging our users for the regular use of their accounts. Some of the models are:

1. Cashback: we commission % of the amount that the store pays us for each purchase.
2. Marketplace: We reach agreements with third parties that sell products that we see add value to our users. We get the best possible price and if our users buy, we keep a commission. These are energy products, insurance, mortgages or currency exchange, among others.
3. Fazil Crypto: Coming soon. We will launch the easiest and most intuitive way to buy and sell cryptocurrencies, Fazil Crypto. Like many cryptocurrency exchanges, we will charge a fee of between 1% and 2.5% for each buy-sell operation.

In just one year of life, more than 5,000 people already have a Fazil card, having operated more than 13 million euros from their accounts. This is an average accumulated volume much higher than that of the competition. This is because Fazil does not bet on the technique of "giving away money" to increase the number of new users indiscriminately, but instead bets on a good, simple and intuitive product that adds value to the end user on a day-to-day basis, achieving thus a high recurrence in the use and customer loyalty.

There are trains that only come once and this could be one of them. If you agree that:

• The future of banking is digital
• Years ago we had only one bank account and now we have several
• The use of cash will continue to decline
• 100% digital banking solutions are more resource efficient than traditional banks

Then you think like we think at Fazil. In addition, we know how to understand the needs of an increasingly digital world and we know how to reach the new generations because we are part of them.

Remember that investing in startups is considered a Venture Capital investment. This means that the risk is high but the potential multiplier of the investment is also high.

After the investment, we will seek to continue growing and optimizing the product. In addition, we will implement new features and income streams such as Fazil Crypto, company accounts and we will incorporate cashback in hundreds of new merchants. This has only started.