Visa Everywhere Initiative: The Ultimate Fintech Pitch Competition | TechCrunch Disrupt 2024

Introduction and Overview

• The Visa Everywhere Initiative 2024 Global Finals is taking place live from San Francisco, California, featuring top startups from around the world competing for up to $120,000 in total prizes. (10s)
• The competition is hosted by Dolores Terry, Business Development Executive for Visa North America and Global Digital Partnerships. (34s)
• The Visa Everywhere Initiative is a yearlong global competition where thousands of startups apply to compete locally for prizes and partnership opportunities, ultimately aiming to compete on the global stage. (1m34s)
• Finalists in the competition come from five regions: Asia-Pacific, Central Europe, Middle East and Africa, Europe, Latin America, and North America. (1m52s)
• The judging panel includes Hassan Cosmi, Bianca Kaban, Rodney Williams, Talia Baroo, Jon Jones, and Rodrigo BOS de Paa, all of whom hold significant positions in the fintech and digital sectors. (2m5s)
• The startups competing include Rasheed Haden of Gamer G, Jorgen Freeman of Via Finance and Technology, Haime Ron of CUO ELO, Pasos of TXX, and Jake Bovic of Fly Code. (3m20s)
• Each finalist has four minutes to pitch their solution, followed by four minutes of Q&A with the judges, and they will be evaluated on criteria such as solution and pitch presentation, Visa partnership opportunities, desirability and uniqueness, and feasibility of product and solution. (3m51s)
• The overall winner will receive $100,000, and the audience will vote for their favorite, who will win $20,000. (4m27s)
• During the judges' deliberation, a keynote will be delivered by Jen Walter, the first female NFL coach and a renowned motivational speaker. (4m45s)
• The event will also showcase inspiring success stories from past winners of the Visa Everywhere Initiative, which has seen thousands of startups apply since 2015. (5m10s)

Success Stories of Past Winners

• Rodney Williams, the first winner of the Visa Everywhere Initiative in 2015, has had multiple interactions with Visa, including joining the FasTrack program and receiving investments. He later created a second company, won the initiative again, and now serves as a judge at the Global finals at TechCrunch Disrupt 2024. (5m20s)
• Wade Arnold of Move Financial, after winning the 2021 North America Edition and the 2022 Global Edition, entered Visa's FastTrack program and received a Visa investment in 2023, which supported their Series B funding. He joined the Global judging panel in Qatar and shared insights at the 2023 Global finals. (5m51s)
• IO Arawe from Thrive Agric won the Central Europe, Middle East, and Africa Visa Everywhere Initiative Regional finals in 2022 and the global finals in Qatar in 2023. Thrive Agric and Visa are now collaborating on a project to support farmers in Kenya. (6m13s)
• Nick Grassi of Finerio Connect won the 2021 Visa Everywhere Initiative Latin America crown and placed second at the global finals in 2023. Finerio Connect raised $6.5 million, with Visa as a key investor. (6m35s)

2024 Global Finalists at TechCrunch Disrupt

• The 2024 Visa Everywhere Initiative Global finalists are introduced live from the fintech stage at TechCrunch Disrupt, highlighting the competitive nature and significance of the event. (6m54s)

GamerG: Competitive Gaming Platform

• Rashid Hadan, co-founder of GamerG, presents the platform as the first competitive gaming platform in the Middle East and Africa, addressing challenges faced by casual gamers in tournaments by offering a skill-based matchmaking platform. (8m5s)
• Gamergy is a platform where players are matched with others of similar skill levels to compete in tournaments, with scores updated in real-time on live scoreboards. Players deposit cash, which is converted into a digital currency called gyms, used for tournament participation. (9m42s)
• Gamergy charges a 30% participation fee and plans to diversify revenue streams by adding subscription processing fees, short-term and overnight deposits, FX spread revenue, and sponsorships. Since its launch in December 2023, Gamergy has hosted over 7,500 tournaments with more than 350,000 game sessions. (10m12s)
• The platform has integrated with major games played by over 400 million people globally each month. Gamergy aims to partner with Visa to enhance the gaming experience through Visa Direct for cross-border micro payouts, Visa cards for exclusive benefits, and Visa Token Services to prevent fraud and simplify purchasing. (10m45s)
• Gamergy is enhancing its platform by improving social interaction and community engagement among players, as well as upgrading its anti-cheating system to ensure fair gameplay. (12m30s)
• Customer acquisition has been relatively easy for Gamergy due to the widespread availability of players. The platform focuses on adding more games to attract users and enhance engagement. (13m19s)
• A gamerg partner program functions as an affiliate program, allowing players to invite others and receive rewards, with milestones and achievements to track progress. (13m29s)
• The competitive landscape includes traditional tournament companies that require significant organization time, but the focus is on companies with strong payment integrations in the Middle East and Africa, where options like PayPal are not accessible. (14m4s)
• The main problem being addressed is logistics in real-time in-game performance tracking, allowing players to participate online at their convenience without needing to gather simultaneously, with a focus on fairness and skill-based matchmaking. (15m6s)
• The pitch competition selected teams from over 120 countries, and user feedback has led to improvements in algorithms for better matchmaking and scheduling, enhancing the user experience. (15m49s)

Via Finance and Technology: Invoice Finance Solution

• The first round of Q&A concluded, and the next startup, Via Finance and Technology, was introduced, offering a digital end-to-end solution for invoice finance. (16m35s)
• H is transforming a 100-year-old industry by enhancing business liquidity through an invoice management platform called via 360. (17m13s)
• The platform addresses the issue of delayed payments, which average 74 days in Europe and contribute to 25% of bankruptcies. (17m41s)
• Via 360 is a cloud-based, end-to-end invoice management platform that automates the order-to-cash process, helping businesses get paid faster. (17m59s)
• The platform connects business owners with end customers, automating the invoice lifecycle, including invoicing, reminders, and debt collection. (18m7s)
• Via 360 provides a data-driven, eco-friendly solution for digital invoice distribution and offers a fast payment experience for end customers. (18m48s)
• The platform integrates with banks to enhance liquidity for business owners and supports the underwriting process for banks. (19m13s)
• Via 360 offers AP card financing and early payment options to boost liquidity for end customers. (19m32s)
• A case study with Aspia, a leading Nordic accounting firm, showed a reduction in payment days from 62 to 22 and an annual working capital increase of 20 million EUR. (19m41s)
• Future plans include incorporating Visa virtual card payments, streamlining international payments, and enhancing early pay functionality. (20m9s)
• Via 360 has assisted over 7,000 business owners and end customers, managing over three billion EUR in working capital, and has partnered with three major banks, targeting 500 more across Europe. (20m41s)
• The integration process involves connecting directly with business owners' ERP systems, offering quick, no-touch integrations, especially for SMB segments, which can be completed in about half an hour. (21m39s)
• The company works with both banks and business owners, focusing on migrating bank clients to their platform to manage invoice volumes, allowing banks to concentrate on financing. (22m23s)
• Currently collaborating with approximately 500 EU banks, the company plans to expand beyond Europe, starting with the Nordics, and aims to reach new markets by 2026. (22m43s)
• The company estimates that through these 500 bank integrations, they can potentially reach around 40,000 clients per bank. (23m32s)
• The platform differentiates itself from competitors by offering a proactive, end-to-end solution that validates information, reducing processing time significantly compared to older platforms. (24m12s)
• Customer retention is strong, with a churn rate of less than 5%, and the company focuses on customer success to maintain satisfaction and deliver effective working capital solutions. (25m2s)

CUO: Digitizing Traditional Distribution

• Jaime Ron, CEO and founder of CUO, presented a venture aimed at digitizing traditional distribution channels in Southeast Asia, focusing on small businesses. (25m43s)
• CUO has developed an e2b marketplace that allows users to browse products, track orders, and make digital payments, integrating with suppliers' ERP systems to automate reconciliations and reduce operational risks. (26m50s)
• The partnership with Visa enables digital payments at scale and provides credit solutions, using data to offer better financial tools to underserved business owners processing high-frequency B2B transactions. (27m22s)
• CUO has integrated its ecosystem into messenger apps, allowing users to browse promotions, place orders, and track order status within the app, enhancing convenience and efficiency. (27m56s)
• The business model includes charging a transaction percentage and offering software as a service solutions for suppliers with a monthly licensing fee. (28m19s)
• CUO has experienced significant growth, with a 25% increase in revenue quarter over quarter, 12% growth in GMV, and 6% growth in active customers, operating in health, FMCG, and auto industry verticals in Thailand and Vietnam. (28m37s)
• A recent partnership with DKSH is expected to further support CUO's growth. (29m10s)
• The mission of CUO and Visa is to promote economic growth and financial inclusion by empowering 8 million micro SMEs to be the backbone of local communities. (29m14s)
• Southeast Asia, particularly Vietnam, was chosen for its growth potential, with a young average population age and favorable geographic conditions. (30m26s)
• The initiative aims to empower general trade by expanding tools to 1.4 million stores across regions like the Philippines, Indonesia, Malaysia, and Cambodia, reaching 100 million people. (30m39s)
• The strategy for growth involves collaborating with large distributors and anchor clients, integrating with systems like SAP to enhance organizational processes. (31m46s)
• Despite a 6% quarter-over-quarter active customer growth, the focus is on leveraging anchor customers to open doors to new markets and increase growth. (31m19s)
• Messenger apps are being utilized for business tools, achieving a 90% conversion rate, indicating significant growth potential in this area. (32m40s)
• The integration offered includes SAP systems, sales representative tools, and distributor management systems, reducing costs and time for large distributors. (34m0s)

ILO: Credit Access through Gaming

• ILO, a startup, is focused on facilitating access to credit for Gen Z and unbanked populations through gaming. (34m35s)
• The platform, Tracks, allows users like Noah to create a digital wallet, perform missions, earn points, and receive hidden rewards through a gaming publisher's loyalty program. (35m53s)
• Tracks provides data analytics to banks and financial institutions, offering insights into in-game and on-chain behavior, which can be used for financial intelligence. (36m31s)
• The platform enables users to use game assets as collateral for microcredit, addressing financial challenges for both users and publishers. (36m52s)
• In recent months, Tracks has closed deals generating over $1.5 million in revenue, and aims to expand partnerships with global publishers and esports teams. (37m3s)
• The company proposes a collaboration with Visa to create a payment structure that uses game assets as collateral, facilitating credit assignment through prepaid cards. (37m35s)
• The partnership with Visa aims to offer unique financial products and integrate young people into the traditional financial system, potentially transforming millions of lives. (38m3s)
• A company is working with banks in Brazil to provide an alternative credit scoring system using in-game intelligence and on-chain data from digital wallets and platforms. This system helps banks understand user profiles and preferences. (39m1s)
• The company is focusing on traditional game publishers rather than blockchain-based games, using blockchain technology to secure in-game items. They are starting with publishers in Brazil and plan to expand to other countries in Latin America and eventually to Europe and the USA. (40m13s)
• The company faces challenges in creating a strong structure that integrates gaming, finance, and technology, and in explaining their platform and financial system to potential users. Their vision is to enable people to earn money through games. (41m51s)

Fly Code: Failed Payment Recovery

• Jake Vovik, co-founder of Fly Code, presents a solution for failed payment recovery for subscription-based companies, aiming to help merchants accept more payments and increase revenue. (43m0s)
• A failed payment to a vendor led to the cancellation of a core service subscription, highlighting the common issue of failed payments in subscription businesses. (43m31s)
• The problem of failed payments affects every subscription business, with the industry losing over a billion dollars daily due to such failures. (44m31s)
• Fly Code offers a solution by automating failed payment recovery, handling retries, and customer communications using AI agents that consider hundreds of data points to optimize timing and communication. (44m40s)
• The AI agents determine the best time to retry payments and communicate with customers, taking into account factors like local time, language, and banking schedules. (45m2s)
• Fly Code's approach has increased recovery rates by over 20%, positively impacting key performance indicators such as lifetime value, customer acquisition costs, and churn rates. (45m37s)
• The company has integrated with platforms like Stripe and Shopify to support various business models and has experienced monthly growth of over 20% in its first year, aiming for profitability by year-end. (45m52s)
• Fly Code's pricing model is based on a SaaS fee tied to recovered revenue, with nearly 60% of payment volume involving Visa cards. (46m9s)
• By partnering with Visa and utilizing resources like the BIN API, Fly Code enhances its data models, improving acceptance rates, reducing fraud, and lowering interchange and scheme fees for merchants. (46m16s)
• Fly Code's vision extends beyond failed payment recovery to deploying revenue optimization agents throughout the payment journey, enabling merchants to add sophisticated capabilities without needing extensive internal expertise. (46m58s)
• Fly Code aims to provide revenue optimization from the authorization level down, offering a plug-and-play product that partners with Visa to enhance payment success rates and cost-effectiveness for merchants. (47m18s)
• The company supports merchants globally, addressing regional payment method nuances, such as the popular Pix payment method in Brazil, by ensuring effective communication with customers to reduce transaction failures and churn. (48m36s)
• Fly Code's business model is based on a SaaS product rather than taking a cut of payment volume, allowing scalability and cost-effectiveness for customers. The focus is on expanding beyond payment recovery to other points in the payment journey, providing an intelligence layer that adds significant value. (50m11s)
• A strategic partnership is discussed, focusing on leveraging existing resources, particularly from an API standpoint, and exploring opportunities with CyberSource to enhance merchant efficiency and revenue optimization. (51m12s)

Audience Voting and Keynote Speaker

• The audience is invited to vote for their favorite participant in the competition using a QR code, with a two-minute voting window. (52m15s)
• Jen Walter, the NFL's first female coach and now a motivational speaker, is introduced to entertain the audience while judges deliberate. She shares her experiences of overcoming perceptions and being a disruptor in her field. (55m4s)
• Jen Walter emphasizes the theme of disruption, highlighting how entrepreneurs and disruptors challenge the status quo and are often labeled as "crazy" for their innovative ideas. (56m12s)
• The journey of innovation often involves navigating the fine line between brilliance and insanity, where ideas initially deemed impossible become achievable and irreversible once realized. (57m10s)
• Being a pioneer or a "Trailblazer" in any field is inherently challenging and often lonely, as it involves doing something that has never been done before without a clear mentor or path to follow. (58m26s)
• Entrepreneurs and disruptors must possess a strong belief in their vision, embracing the "crazy" aspects of their journey as a badge of courage and dedication. (58m41s)
• The term "Trailblazer" evokes the image of creating a path through uncharted territory, facing obstacles and challenges that require perseverance and authenticity. (1h0m26s)
• The process of trailblazing is not glamorous; it involves overcoming numerous hurdles and setbacks, but it ultimately paves the way for others to follow more easily. (1h0m51s)
• The narrative highlights the challenges and boldness required to be a disruptor, stepping away from the comfort zone and challenging the status quo. (1h1m30s)
• The speaker shares a personal story about receiving a check for $112 after playing women's pro football, emphasizing the significance of this moment as a step towards professional recognition, despite the small amount. (1h2m45s)
• The check symbolized a transition from paying to play to being considered a professional, serving as a reminder of the progress made for future generations of women in sports. (1h3m13s)
• The speaker reflects on the lack of opportunities for women in American football and the importance of creating a space for women in the sport. (1h3m40s)
• A pivotal moment in the speaker's career was when they were offered a coaching job in men's pro football, initially declining due to societal norms, but ultimately accepting after being encouraged by a mentor. (1h4m46s)
• The story underscores the importance of trailblazing and entrepreneurship, seeing opportunities where others do not, and paving the way for future generations. (1h5m33s)
• The event highlighted the courage and determination of all participants, emphasizing the impact of the competition on their careers and lives. (1h6m1s)

Winners Announcement and Closing

• The audience favorite award, which includes a $20,000 prize, was announced and awarded to Rasheed from Gamer G. (1h7m36s)
• The overall winner of the competition, receiving a $100,000 prize, was Jake from Fly Cod. (1h9m33s)
• Claudia Lagunes, the Global Lead of the Visa Everywhere Initiative, and Hassan were involved in announcing the overall winner, selected from over 1,300 startups across 120 countries. (1h8m50s)
• Jon Jones, Vice President and Head of Global Startups at AWS, announced additional prizes, including $5,000 in Activate credits for Jake and $110,000 in Activate credits for each participant. (1h10m21s)
• A significant expression of gratitude is extended to Claudia, the audience, the Kite Team, and the production team for their contributions to the event. (1h10m57s)
• An invitation is made for all the startups to come to the stage for a group photo, along with the judges. (1h11m12s)