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Azteco

Azteco is streamlining access to Bitcoin for the billions of unbanked people
Crypto B2B Technology
Featured image of Azteco
This is an SPV deal
Round
Series A
Valuation
$78M
Allocation
$200K
Deadline
January 7, 2023
Instrument
Preferred Equity
Minimum investment
$5,000
Invest in Azteco
Co-investors
Red Beard Ventures
Red Beard Ventures builds, invests, and advises startups across web 3.0 and crypto.
Red Beard Ventures also invested in:
Companies
Jack Dorsey
Chief Executive Officer of Square
Jack Dorsey is an American Internet entrepreneur, programmer, and philanthropist who is the co-founder and former CEO of Twitter, as well as the founder and principal executive officer of Block, a financial payments company.
Gaingels
Growth Stage, Venture Capital Firm
Gaingels seeks top investment returns by co-investing with the best venture capital firms, and seeks to influence social change through business by investing in the best companies that embrace LGBT+ leadership.
Gaingels also invested in:
Companies
Pitch Updates 3
Questions? (855)-668-2575
Invest Invest in Azteco
Questions?
Closed on January 7, 2023. Information may not be up-to-date. Campaign closed on January 7, 2023. Information displayed may not be up-to-date.
Problem Solution Product Traction Biz. model Market Competition Founders Disclaimers
Press

Documents

Republic Deal Room Advisor (Republic Deal Room Advisor LLC, CRD# 31568) is hosting this Reg D 506(b) securities offering by Gaingels Q3 2022 II, A Series of Republic Deal Room Master Fund, LP.
Company documents
Subscription Agreement gaingels-q3-2022-ii-LPA.pdf gaingels-q3-2022-ii-PPM.pdf
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Investment summary


$5M+ raised
Company has previously raised over $5M in capital
Leading VC-backed
Company is backed by a leading VC firm
Notable angel backing
Company is backed by a notable angel investor

Azteco is a B2B SaaS company enabling established businesses to profit from the sale of Azteco Vouchers, helping to spread access to bitcoin in the places where it's needed most. Azteco vendor sites are virtual ATMs in software and are orders of magnitude more efficient and flexible than any Bitcoin ATM. Additionally, they don't have any physical parts to assemble and maintain, so Azteco can control a vendor's account in a fine grained way. 

Azteco's vision is to change the way payments work online. Its scalability and ease of use has attracted the attention of Twitter founder and former CEO Jack Dorsey as well as several notable VC firms, including Gaingels and Redbeard Ventures. 

This is a special purpose vehicle (SPV) formed to invest in Azteco's Series A.

  • Unlocks the potential of the "Consumer Bitcoin" sector
  • Makes access to Bitcoin as easy as topping up a mobile phone
  • Monthly GMV has increased 400%+ since last year's $1.4M Seed round
  • Positioned to be a top Bitcoin onramp
  • Booked $8M+ in total sales in 2021, first full calendar year of business
  • Ex-Google Co-Founder

Problem


Billions of people lack easy access to Bitcoin

  Bitcoin is still intimidating and complicated for most                  people

  Exchanges require invasive sign-up and are inaccesible           to the non-tech savvy

  1.7B unbanked smartphone users have no access

Solution


Azteco democratizes access and makes getting Bitcoin simple

  Offers vouchers both in-person and online

  User and vendor experiences are fast and simple

  Works just like a mobile Top Up

  Requires only a smartphone

  Global Bitcoin onramp solution

  B2B SaaS for merchants to sell Bitcoin vouchers

 One Scan away from your Bitcoin

Product


The Azteco Voucher

  On-Chain and Lightning vouchers

  Values between $1-$1000

  Easy to use for consumers

  Instant final settlement


Voucher Sale in 3 Steps



Easy for Partners to sell Bitcoin




Azteco is a software-as-a-service (SaaS) platform for issuing vouchers and delivering Bitcoin to the end user.



Vendors sell vouchers for fiat and earn a commission. They never touch Bitcoin. They are accounted to entirely in fiat.






Users redeem vouchers for Bitcoin. They don't have Azteco accounts. They redeem to the Bitcoin address they choose.



Two Vendor Solutions


API

  • Azteco's API seamlessly adds
  • Bitcoin vouchers to an existing
  • POS system / platform


POS

  • No technical skills required
  • Web Interface
  • Standalone Vendor Product

Many Wallets to Choose From


Traction


Adoption is trending up due to new partnerships and integrations

Azteco's revenue continues to trend higher, and its sales pipeline has never been more packed. According to the company, it has increased the capacity of its infrastructure to handle the increase in sales. Azteco also aims to activate its distribution network of hundreds of thousands retail outlets. 

—

Two recent launches have bolstered traction

One in Africa..... 

And one in Europe

 

Business model


How Azteco makes money

Azteco's main source of revenue is via a flat commission on the face value of every voucher sold. Generally, Azteco earns between 2-6%, and their vendors earn between 3-8% on the gross merchandise volume. The end consumer generally pays a total markup between 5-10% which is split between Azteco and the vendor. Additional revenue streams includes fees earned from routing on the Lightning Network, network fees and from expired vouchers (known as ‘breakage’ in the gift card industry).

Market


Market has immense untapped potential

  Consumers spent $347B online first-half of 2020 in US            retail

  Global remittances were $642B in 2018

  Western Union revenue was $4.8B in 2020

Competition


Azteco vs. Bitcoin ATMs

Bitcoin ATMs

There are other Bitcoin voucher companies entering the market. However, Azteco states that it provides a vastly superior user experience as well as a market fitting contextualization, enabling the company to serve everyone world-wide regardless of the consumer’s status, granting it a global reach.

Azteco

Azteco is unique in that it has, through its easy to implement API, the ability to target a wide range of industry verticals. Azteco is sold online as well as offline within a wide range of different types of businesses. Azteco vouchers are currently sold in retail (mom and pop/chain stores), on gaming platforms, through prepaid and mobile value distributors, gift card distributors, incentives and rewards companies. 

Founders


Meet the Team

Bitcoin Startup Azteco Brings on Google Veteran Paul Ferguson as Co-Founder

Azteco is proud to announce that Paul Ferguson, a seasoned Google veteran, will be joining their growing team. Paul joining Azteco provides the Bitcoin startup with the technical capability to rapidly scale and also opens access to deep intellectual resources and capabilities. Paul brings over 15 years of software and product management experience to the company. Most recently, he led teams at Google in Search, Ads, Site Reliability Engineering and Google Pay. This work represents a wealth of experience in the exact area Azteco is entering, with expertise in complex consumer-facing interfaces and high availability backend integrations. Paul will focus on vendor platform development as well as product and vendor acquisition. His addition to the team will accelerate the growth of Azteco and their goal of helping the global switch to Bitcoin as the money of the Internet. Leaving Google for Azteco is a strong indication of how potentially impactful and profitable Azteco will be and the opportunity Consumer Bitcoin presents.

Disclaimers


In addition to the carried interest Republic Deal Room Advisor LLC is entitled to for the syndicated investments it organizes, certain principals of Republic Deal Room Advisor LLC may have a personal interests in these investments, as disclosed below. When making an investment decision please review any applicable disclosures as they represent pre-existing financial interests held by those principals of Republic Deal Room Advisor LLC.

We do not represent that the information contained herein is accurate or complete, and it should not be relied upon as such. Opinions expressed herein are subject to change without notice. Certain information contained herein (including any forward-looking statements and economic and market information) has been obtained from and/or prepared by Azteco or other third-party sources and in certain cases has not been updated through the date hereof. While such sources are believed to be reliable, Republic Deal Room Advisor LLC does not assume any responsibility for the accuracy or completeness of such information. Republic Deal Room Advisor LLC does not undertake any obligation to update the information contained herein as of any future date.

Documents

Republic Deal Room Advisor (Republic Deal Room Advisor LLC, CRD# 31568) is hosting this Reg D 506(b) securities offering by Gaingels Q3 2022 II, A Series of Republic Deal Room Master Fund, LP.
Company documents
Subscription Agreement gaingels-q3-2022-ii-LPA.pdf gaingels-q3-2022-ii-PPM.pdf

Press

Azteco Lightning. Now no one gets left behind in Bitcoin.
Medium
·
Apr 1, 2021

At Azteco we've been experimenting with Lightning for over a year, refining our thinking, and user experience designs to ...

Azteco Now Offering Lightning Network Vouchers
Bitcoin Magazine - Bitcoin News, Articles and Expert Insights
·
Mar 31, 2021

Bitcoin voucher platform Azteco has announced the launch of Lightning Network vouchers, allowing users to redeem their Az...

Bitcoin Startup Azteco Brings on Google Veteran Paul Ferg...
PRWeb
·
Oct 7, 2019

I could not be more excited about joining Azteco. We make buying Bitcoin as easy as buying milk, and in doing so, we will...

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Azteco

Azteco successfully raised $146,500 from 19 investors on January 7, 2023
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