Small businesses aren’t getting the support they need. Governments and banks face a scale challenge helping them, while cashflow, administration and trust are their biggest problems.
hiveonline is the financial trust platform for Scandinavian small businesses. We fill the gap between banks, businesses, government and administration, with frictionless financial administration that builds a trust vault. Businesses, customers, workers and suppliers share decisions, contracts, authorisations and payments via mobile, while guarantees, decisions, pictures and certificates are stored in the trust vault. The trust vault builds an indelible profile on blockchain, so customers, banks, community members, retailers, authorities and businesses know that work was completed and that records are true
Our platform is blockchain based, built through a global consortium of fintechs and we will need 1.5m Euros to reach our live market offering in 2017.
Sector driven first horizon launch
Our first horizon customers don’t sit at their PCs all day – they’re the 180,000 Danish and Swedish builders, farmers and restauranteurs employing fewer than 100 people, so our Q3 2017 offering is mobile only. Second horizon expands to all Nordics and all 1.3 million SMEs in the region, by end 2018, with positive ROI in Year 3/4. The Nordics are ideal markets for hiveonline because of connectedness, low cash use and high value attached to trust.
While many fintechs address the SME administration challenge, and some integrate with banking, our combination of financial administration and indelible trust record is unique. Our model is closer to a platform bank, but we are not aiming to become a bank short term, instead operating under an e-money licence and offering banks our platform as an incentive to their SME customers. So we are building relationships with partners who could otherwise be considered competitors including banks, SME accounting and payments fintechs. For hiveonline, every competitor is a potential partner.
Relationship driven go-to-market
hiveonline’s experienced team, led by banking rebuild expert Sofie Blakstad , is partnering with banks, industry bodies and governments to reach SMEs, with growth potential into larger businesses, NGOs and charities. Your seed funding will continue our development towards a 2017 customer launch. Sofie (UBS, RBS, Citi, Nordea, Goldman Sachs, Chase, Merrill, Lehmans) has nearly 20 years’ experience delivering global service-aligned universal banks and startups. She is passionate about helping customers to succeed and grow. The team has a combination of 80+ years of experience and includes leading edge brains in blockchain, CX-driven service design and architecture, amongst others.