Transak receives investment from Consensys and graduates from the Tachyon accelerator program.

Transak receives investment from Consensys and graduates from the Tachyon accelerator program. Consensys, the global blockchain company founded by Ethereum co-founder, Joseph Lubin, has incubated and invested in more than 100 projects and companies, including key pillars of the Ethereum ecosystem — Infura, Metamask, Truffle Suite, Pegasys, and Nuo. Consensys launched the Tachyon accelerator program to bring together a highly selective group of Web 3.0 and Blockchain startups. Transak’s founders Sami Start and Yeshu Agarwal joined the 3rd cohort of the accelerator program that had decentralized finance as its theme.

Transak’s journey through the accelerator program

The Tachyon program was split into 3 phases: problem, traction, and storytelling. In the problem phase, we used evidence from customer conversations to narrow our focus. We had to make sure everything we were building was only to solve customer problems. This meant having some hard conversations and removing/postponing parts of our product and business plan. It also led to some exciting conversations where we narrowed in on a big customer pain point. Our customer conversations generated a set of requirements for the product we should build and distribute:

  • These apps have a global audience so they need global coverage with localized payment methods
  • They want low fees
  • They want an easy integration without having to hack together multiple on-ramps for different regions
  • They want a good user experience for their end-users, with high conversion rates

Global fiat on/off-ramp for apps and wallets. Try it at http://global.transak.com. Integrate at dashboard.transak.com

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