|Current Status||Concept / Business Plan|
|Funding Required||RM1,000,001 to RM2,000,000|
|Description||Big Pocket is a mobile aggregation platform that primarily aggregates eWallets, with the possible opportunities to include other services such as eVoucher/ eCoupon, ebooking and eLoyalty into one single app.|
|Business Opportunity||At the current market condition, consumers would hesistate to top up their eWallets, without any cash out option or mechanism to move money from one eWallet to another. On the other hand, merchants have to toggle between various merchant apps from different eWallet operators to receive payment. It is both difficult for consumers and merchants to track their spending history sitting at different apps. As for the eWallet operators, it is expensive to maintain and acquire merchants.
BigPocket is to act as aggregator for all eWallets, thus allowing consumer to select which eWallet to pay from a single app and making payment via aggregated fund from multiple eWallets. Consumers will also be able to transfer money between eWallets.
We also empower merchants to accept payment from different eWallets in one single merchant app, reducing the complexity of mutliple apps and eWallet operators will be able to access a wider merchant network.
|Revenue / Business Model||Our business model is a transactional-based model by taking a 20% cut on MDR rate. Other revenues will come from tranfer fees as well as additional features that will be launched in the future.|
|Management Team||Jason Lin
Co-founder/ The Architect
Contribute to app features and roadmap of the project. A graduate of MBA of Ecommerce from Charles Sturt University; worked in HP, Agilent Technology etc.Allan Yeo
Co-founder/ The Operator
Experience in business, finance and operation management. Worked in internet and technology companies. Background in Telecommunication Engineering as well as a holder of MBA degree.
|Company Background||inGears SDn Bhd was first established in 2011. We started as a distributor for innovative tecnological consumer products as well as supplying hardware to GLC companies. We are evolving into a more software based company focusing on mobile platform apps.|
|Funding Milestone||RM 2 million fund required over 2 years.
RM300K in Q1 2017
RM700K in Q3 2017
RM1Miil in Q1 2018
Expect to hit revenue of 3.6 mil (just on share of MDR) in first 2 years.
|Company Name||inGears Sdn Bhd|
|Business Address||20-1, Jalan PJU 3/33, Sunway Damansara 47810 Petaling Jaya, Selangor|
|Contact Person||Jason Lin|