Qoins wants to help you pay off your debts and raise growth capital on Republic
Qoins, a FinTech that aims to help you save money and repay your debts faster, raises growth capital on Republic.
According to the offer page, Qoins is looking for up to $ 1.07 million in a CrowdSAFE with a valuation cap of $ 12 million. As it stands, investors have pledged over $ 123,000 with plenty of time to offer securities.
Qoins is an app (and soon a debit card) that automates additional payments to lenders, improving credit scores while contributing to financial well-being. The user sets the parameters, then the app automatically pays and saves wherever the user wants. The mission is to provide a path to financial freedom.
Qoin’s model is subscription-based, so users pay $ 2.99 per month or $ 4.99 per month, depending on the tier.
Beyond upcoming debit cards, Qoins also plans to offer microloans, savings accounts and âother financial initiativesâ.
Previously, the company claimed to have received support from Google for startups, Rise of the Rest and others.
Qoins currently reports over 10,000 active customers with a monthly transaction volume of around $ 1 million to $ 2 million.
As of August, more than $ 20 million in debt had been repaid and the company predicts that number will exceed $ 100 million by 2023.
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