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Conversation
Highlights
Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech’s most innovative B2B founders. In today’s episode, we’re speaking with Patrick Mollard, CEO & Co-Founder of Fipto, a blockchain payments platform that has raised $16 Million in funding.
Here are the most interesting points from our conversation:
- Origins of Fipto: Patrick identified significant gaps in international payments during his previous fintech experience. This realization led to Fipto’s founding in 2022, aiming to merge traditional payment best practices with blockchain technology.
- Building the Platform: Fipto’s journey to its first paying customer involved significant investment in product and tech, including building a core banking system and obtaining necessary licenses in France and Luxembourg.
- API-First Approach: Fipto initially focused on API solutions but developed a platform to better sell and demonstrate these APIs. Their ultimate goal is to integrate with third-party systems like treasury management systems.
- Market Education and Adoption: Educating the market on blockchain’s benefits, such as speed, transparency, and cost-efficiency, has been crucial. They target early adopters and payment service providers while anticipating broader corporate adoption as regulatory clarity improves.
- Fundraising Insights: Patrick emphasized the importance of securing a lead investor to set the terms of the funding round, which simplifies and accelerates the fundraising process.
- Geographic Focus: Identifying ideal customer profiles and key payment corridors, particularly in Latin America, Africa, and Asia, has been vital for Fipto’s go-to-market strategy.
Actionable
Takeaways
Identify Core Pain Points:
Understand and address the specific pain points of your target market to create a compelling value proposition.
API Integration:
Building API-first solutions can enhance flexibility and scalability. Ensure you also have a platform to demonstrate the value of these APIs to potential clients.
Regulatory Navigation:
For blockchain companies, navigating regulatory landscapes and securing necessary licenses is essential. Plan for this in your product development timeline.
Focus on Lead Investors:
When fundraising, prioritize securing a lead investor to streamline the process and attract additional investors.
Global Perspective:
Analyze geographic markets to identify where your solution can have the most impact. Tailor your go-to-market strategy to focus on these regions.
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