The Mobile Money Remittance market is highly competitive and has high barriers to entry. There are a lot of strong players on the market, for example WorldRemit, which can quickly implement crypto-currency money transfer servicies. The company doesn't describe the market entry strategy into new markets. Bottleneck of expansion's strategy is choise of target markets.
There are no test releases available at this time. Product does not have sustainable competitive advantages. According to Similar Web, current mobile applications of Bank4you do not demonstrate good traction (Total Installs: 500 - 1K). The key component of project's business model is to set up a consortium of mobile operators. All mobile operators that have concluded partnership agreements will be able to give their subscribers the opportunity to receive or send cross-border payments to subscribers of all other partner mobile operators. HOWEVER, there is no information about arrangements and their status with each partner. The company does not provide the mechanism of return on investment The financial forecasts provided by the project are unrealistic (total expanses is less than 7% of revenue) A hard cap of 50 million USD seem excessive in comparison with companies, which was raised money at the same stage of development ((according to Pitchbook data) There is no detailed plan of spending the funds collected within ICO.
Founder and CEO of the Hirefone Group and VC backed Gosim.com, David specializes in developing successful strategies that deliver sustainable high growth. But neither Hirefone Group nor Gosim.com have not showed good traction.
