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BitLendingClub Pitch BitLendingClub is the one-stop international Bitcoin crowd-lending platform. Lending in Bitcoin is plagued with fraud, so we set out to use groundbreaking technology in order to make Bitcoin lending a secure and sustainable reality. We take the necessary steps to protect lenders in order to allow them to invest freely. Borrowers now get the lowest possible interest rates that the fair market can offer and lenders compete to offer those interest rates. We are the first ever company to utilize smart property, made possible by the block-chain protocol, in order to eliminate the risk of borrower malfeasance. Our platform reduces the risk of lending Bitcoin to people across the world by focusing on prevention, rather than collection. This has enabled our platform to achieve the lowest default rates in the Bitcoin lending industry, our default rate is about 2.59% (which is about 3 times lower than our biggest competitor).
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bitlendingclub.com
BITCOIN CROWD-LENDING LIKE NEVER BEFORE!
Kickstarter for Bitcoin loans
[email protected]/bitlendingclub
bitlendingclub.com
Kiril Gantchev• CEO of BitLendingClub• Entrepreneur• Software Engineer• Startup Boot Camp,
AdGooroo, Trading Technologies, Navigon
• linkedin.com/in/kgantchev• angel.co/kgantchev
[email protected]/bitlendingclub
bitlendingclub.com
Yasen Yankov• CTO of BitLendingClub• Entrepreneur• Software Engineer• eCommera, CISCO,
Axway, Komfo
• linkedin.com/in/yyankov• angel.co/yasen-yankov
[email protected]/bitlendingclub
bitlendingclub.com
What’s so difficult about Bitcoin Loans?
Anonymous
• Who am I lending to?
Unsecured
• High risk of default
International
• Difficult to collect
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bitlendingclub.com
Difficult is not impossible!
Identify users
• Verify Identity
• Connect via Social and Trusted sites
Empower Investors
• Information• Competition• Security
Secure Loans
• Smart Property
• Smart Contracts
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bitlendingclub.com
What have we done?
Built the MVP.Achieved
product/market fit.
2300+ users 23% market share
Demonstrated revenue.
589 Repaid Loans
Merchant Fees
Built a team:
CEO/CTO 2 Developers
2 QA Engineers
1 Support/PR
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bitlendingclub.com
The Competition: BTCJamAdvantage• Venture funded for $1.2
million• Early mover advantage• Larger market share (77%)• Bigger feature set• Higher profit margin (4% vs
2%)
Disadvantage• Fees taken upfront• No secured loans• Inefficient interest rate
discovery• Poor communication with
community• Bad interface
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bitlendingclub.com 8
How is BitLendingClub better?
• Fees collected from loan payments (2%)• Secured loans: integration with
merchants/manufacturers• Interest rates discovered through free market• Stellar communication with community• CEO focuses on business, CTO on technology• Better interface
angel.co/bitlendingclub
bitlendingclub.com 9
But really… how much better?
BTCJam since 2012 BitLendingClub since March 2014
19% ROI/Year
90% Repayment
N/A Average APR
$1.2 million funded per month
4,000+ loans repaid
23.5% ROI/Year
96% Repayment
440% Average APR
$347K funded per month
594 loans repaid
angel.co/bitlendingclub
bitlendingclub.com
Current Market: Loan Volume
BTCJam: over 4,000
loans repaid
BLC: over 591 loans
repaid
4,591 loans repaid
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bitlendingclub.com
Current Market: USD Volume/Month
BTCJam: $1.2 million funded per
month
BLC: $347K funded per
month
$1.547 million
funded per month
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bitlendingclub.com
Focus on GROWTH!
Acquisition
Activation
Retention
Revenue
Referral
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bitlendingclub.com
Acquisition Statistics
March
April May June July0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
Monthly User Visits
March
April May June July0
50,000
100,000
150,000
200,000
250,000
Monthly Page Views
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bitlendingclub.com
Acquisition SourcesFeb 1, 2014 – Aug 1, 2014
New Users
Direct 38.9%
Organic 36.8%
Referral 13.3%
Social 10.9%
Jul 1, 2014 – Aug 1, 2014
New Users
Direct 44.9%
Organic 31.2%
Referral 15.2%
Social 8.7%
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bitlendingclub.com
Activation Per Month
April May June July0
100
200
300
400
500
600
New Users
April May June July0
500
1000
1500
2000
2500
Total Users
angel.co/bitlendingclub [email protected]
bitlendingclub.com
Retention Per Month
April May June July0
10
20
30
40
50
60
70
New Borrowers
April May June July0
20
40
60
80
100
120
140
New Lenders
angel.co/bitlendingclub [email protected]
bitlendingclub.com
Revenue Statistics8.927 BTC from loans
($5,200)
2.5-5% from
integrated loans
> 8.927 BTC
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bitlendingclub.com
Other Statistics838 Funded Loans
(1470 BTC)
594 Repaid Loans
(897 BTC)
296 Loans Funded in
July(1031 BTC)
33 Late Loans(46.86 BTC)
7 Repaid Late Loans(3.3 BTC)
3.93 % Default
Rate
3.12 % BTC Loss
April May June July0
100200300400500600700800900
Average APR(44.66% Mining & 12.05% ATM)
angel.co/bitlendingclub [email protected]
bitlendingclub.com
24 Months Funding Needed
1.25 Million
USD
Sales
MKTNGDev
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bitlendingclub.com
US Based Sales: Merchants and Manufactures
Develop a partner acquisition pipeline
Engage suitable merchants/manufacturers
Close key contracts
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bitlendingclub.com
Overseas Dev Team
Feature RoadmapAlternative
Revenue
Insurance Marketplac
e
Notes Marketplac
e
Fraud Prevention
More tools for Investors
Fraud Detection Systems
API & Features
Users Merchants
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bitlendingclub.com
US Based Marketing and PRMarketing• Run Advertisement
Campaigns• Attend Bitcoin Conferences• Generate Marketing
Materials
PR• Increase Brand Recognition• Establish Relationships with
Media• Generate Higher Quality
Content
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bitlendingclub.com
Revenue SourcesRepaid Loans 2% fees
Partners 2.5-5% fees
Insurance 1% fees
Notes 1% fees
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bitlendingclub.com
Market Outlook• $269 million worth of mining hardware/year
– Funding 10% of the mining is 540K in revenue– 2% partnership fee yields just over $1 million– Total: 1.54 million/year
• Over 10 Bitcoin ATM manufacturers:– BitXATM alone sold 1000 ATMs at $6,000 per ATM– 2% of that is $120K in revenue just from BitXATM– 4% BTC partnership fee results in another $240K– $360K from each of the 8 of the 10– Total: $2.88 million/year
• Total: $4.42 million/year
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bitlendingclub.com
Additional Sources of RevenueDev Effort Only• Insurance• Notes
Sales and Marketing• ATM Floats• Arbitrage (e.g. LBC)• Derivatives Exchanges• Business Loans
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bitlendingclub.com
Current vs ExpectedCurrent Cost and Revenue
Current Cost• $360 K/year
Current Revenue• $144 K/year
Expected Revenue in 2 Years
Expected Cost• $625 K/year
Expected Revenue• $4.42 mil/year
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bitlendingclub.com
Contacts for BLC Team
Company
angel.co/bitlendingclub.com [email protected]
Founders
Kiril Gantchev (CEO): [email protected]
Yasen Yankov (CTO): [email protected]
[email protected]/bitlendingclub
