Project Name: SimpleFi
Founder Name: “Tule” Romeo
Submission Date: September 19th, 2024
Award Amount: 0.0805 RBTC
Project Stage: Early growth
Sector: Payments
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Description: SimpleFi is a crypto-payment platform that makes it easy for merchants to get paid in crypto. We focus on providing instant, cost-effective solutions that empower businesses to be one step ahead in the world of finance. By integrating seamlessly with existing POS systems and allowing payments from any crypto wallet, SimpleFi makes crypto payments accessible and straightforward for merchants everywhere. Additionally, we provide a smooth and intuitive user experience for customers when paying—something often lacking in the crypto space—ensuring that payments are simple for everyone involved.
Mission: SimpleFi aims to be the go-to solution for simplifying crypto payments for businesses. Our mission is to provide merchants with a secure and efficient alternative to tackle current economic challenges, such as inflation, by enabling them to accept crypto payments with the ease of cash, but with the added benefits of digital currencies. By adopting crypto, merchants avoid the risks associated with carrying cash while also opening up opportunities for potential yield and financial growth within the crypto ecosystem.
Product: SimpleFi allows merchants to accept a range of digital currencies through any wallet with a seamless integration process. Payments are made through a simple QR code scan, which is the most common method for in-person payments in Argentina. A core feature of our platform is the integration of DOC on Rootstock, which provides merchants and users with a secure, reliable, and efficient payment option that leverages the stability of Bitcoin’s ecosystem. Thanks to our integration with existing POS systems, merchants can validate and process crypto transactions without needing any prior knowledge of cryptocurrencies, making the experience as familiar as handling traditional payments. SimpleFi manages the entire transaction flow, delivering a smooth and intuitive experience from start to finish.
Team: Tule and Ignacio have been working together for over 4 years, combining their expertise in payments and software development to achieve remarkable success. Together, they have driven significant growth in previous payment products, scaling revenues to over $10 million by 2024. They also co-founded a development shop that reached $1 million in Annual Recurring Revenue (ARR), demonstrating their ability to build and scale tech solutions effectively. Their joint experience includes working with prominent companies like Despegar and OpenZeppelin, which has equipped them with a deep understanding of both the payments and blockchain sectors. This shared background and their proven track record make them the ideal team to lead SimpleFi and drive innovation in the crypto payments market.
Progress: To date, SimpleFi has processed over $60,000 USD in transactions with more than 3,300 transactions completed. We’ve onboarded over 30 merchants in Buenos Aires, and integrated with key partners like Bistrosoft and Cactus, strengthening our market presence and ensuring our solution is accessible and easy to adopt for a wide variety of businesses.
Roadmap:
- Expand our merchant network.
- Integrate with more POS systems.
- Establish partnerships with various wallets and blockchains, such as Rootstock, to offer exclusive incentives for users.
- Develop advanced analytics tools to help merchants better understand and optimize their crypto transactions, making SimpleFi not just a payment platform but also a strategic tool for businesses.
Conclusion: SimpleFi makes crypto payments accessible and easy to adopt for businesses of all sizes. With DOC integration on Rootstock, we empower users to transact easily in crypto, offering a practical solution for everyday payments. This strengthens Rootstock’s utility and drives adoption by bringing real-world use cases to the network. By enabling users to live in crypto for daily transactions, we’re transforming how businesses and consumers interact with digital currencies.
