Photo - Finbook.kz
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Finbook.kz

Financial and management accounting service

Kazakhstan, Astana city
Market: Financial services
Stage of the project: Prototype or product is ready

Date of last change: 30.01.2020
Min investment
$  50.000
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Total required
$ 100.000
Rating
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Idea

We offer a service that provides individual real time financial statements for business owners, entrepreneurs and top managers. Maintaining financial statements and operations on Finbook.kz allows to instantly generate valuable financial statements, especially when an important business decision needs to be made. Integration with banking services via API allows to complete operations automatically by synchronizing data. For example, when data is collected the service determines variable and fixed costs itself.

Current Status

Nowadays we have 25 clients.

Market

Now we are testing market of Kazakhstan. According to the Statistics Committee of the Ministry of National Economy of Kazakhstan, there are 420,800 registered enterprises in Kazakhstan, of which 35.1%, that is, 147,758 active enterprises. Until the end of 2020, we are planning to attract 0.64% of the market, that is, 956 active customers.

Problem or Opportunity

Through many surveys we found out that every second entrepreneur keeps his/her business’s financial statements in a wrong way. Therefore this leads to wrong or even negative outcomes while making important decisions.

Solution (product or service)

We offer a service that provides individual real time financial statements for business owners, entrepreneurs and top managers. Maintaining financial statements and operations on Finbook.kz allows to instantly generate valuable financial statements, especially when an important business decision needs to be made. Integration with banking services via API allows to complete operations automatically by synchronizing data. For example, when data is collected the service determines variable and fixed costs itself.  

Competitors

Our indirect competitors are 1C and Excel, our advantages over them:
1. Integration with banks, the entrepreneur will not need to enter data manually,
2. Auto-recognition of operations. FinBook.kz recognizes repetitive operations; therefore
our customers do not need to manually enter same operations over and over again.
3. Our service is not for financiers, but for entrepreneurs. There are no complicated terms, all that an entrepreneur needs is to upload a bank statement to service, FinBook.kz will do the rest.

Advantages or differentiators

Using Finbook for 15,000 KZT per month will allow business leaders to receive true and relevant information on the financial condition of the company in real time. There will be no troubles faced while making important decisions.

Finance

Year                      2020                2021              2022 
Market coverage  0,69                1,11                2,56
Users                    690                1110                2560 
Cost                      15000              15000              15000
Income (KZT)      124 200 000    199 800 000 460 800 000

Business model

We are working with SAAS model and one month subscription costs 15 000 KZT

Money will be spent on

Salary for developers and investments for software and servers

Offer for investor

We will say at a meeting or in the process of negotiation.

Risks

Main risks are integration with banks and data collection from our clients. 

Incubation/Acceleration programs accomplishment

Astana Business Campus Incubation Program (Nur-Sultan, Kazakhstan)

Won the competition and other awards

Finalist and winner of Astana Business Campus Incubation Program (Nur-Sultan, Kazakhstan)
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video