Debitum Network is an innovative hybrid ecosystem for small business financing - utilizing Ethereum blockchain based process together with principal and interest moved using fiat. This ecosystem based on decentralized and motivated communities brings together SME borrowers, local and regional risk assessors, debt collectors, insurers as well as global investors with interconnected trust-based smart contracts.
Industry:
Finance
About Debitum Network :
Debitum is an existing business in alternative finance for 3+ years. There is a global credit gap for SMEs of more than $1.5 trillion worldwide. We want to disrupt and revolutionize this by creating a new ecosystem - Debitum Network. It will be a blockchain and trust based ecosystem joining various players (investors, risk assessors, document validators, insurers etc.) to complete end-to-end financing loop for SMEs.
It is very important to have a process based solution here as only such approach allows for a mix of local / global players to close the financing gap, earn money on their services and provide needed juice for SMEs growth and development. Traditional finance institutions are failing hard on this issue for ages - it is time we take it in decentralized hands and solve.
Team:
Martins Liberts, well established executive and entrepreneur with deep insight in technology, finance and the future;
Donatas Juodelis, global networker making strong connections worldwide with the ability to inspire individuals joining the cause;
Justas Saltinis, successful certified CFA with an established track record in creating an alternative financing ecosystem;
Mazvydas Mackevicius, PhD, certified enterprise architect with deep experience in development of secure and scalable financial and global solutions;
Märt Lume, lead product manager, employee #1 in what became Slack. Has produced many successful consumer and enterprise software projects in the last 10 years;
Monika Varkalyte, cheerful professional with a strong brand creation, marketing, and UX/UI background.
Roadmap:
2015 – Q2 2017. Start of the company
2015: Incorporated DEBIFO – an alternative finance company
2016.01: Joined Mintos p2p finance platform
2016.10: Reached financing agreement with a private debt fund MUNDUS
2017.02: Envisioned Debitum ecosystem
2017.06: Reached 3M EUR portfolio, nearly 20M EUR asset turnover
Q3 2017. Creating Proof of Concept
2017.07: Expand core team with business and technology advisers
2017.08: Establish global business development team
2017.09: Build and deploy MVP version on Ethereum Ropsten blockchain
2017.09: Align with first counterparties of ecosystem
Q4 2017. Raising funds via Crowdsale
2017.10: Launching of the marketing campaign
2017.10: Expanding the Debitum Network community
2017.10: Incorporating Debitum Network
2017.12: Crowdsale Round A - Raised 1,2 M USD
Q1-Q3 2018. Building Debitum Network 1.0
2018.02: Crowdsale Round B
Product development start
2018.03: Expanding Debitum Network team to prepare for global expansion
2018.06: Establishing Debitum Network in the first target country
2018.09: Testing and auditing Debitum Network 1.0 before public launch
Q4 2018. Debitum Network 1.0
Develop Debitum Network ecosystem version 1.0 with manual on-boarding of asset generators, investors and additional service providers
For the time being (28.01.2018: ICO, start crowdsale.
