# Decentralized Mobile Applications

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/decentralized-mobile-applications

- Industry: Financial Services
- Headquarters: Tel Aviv-Yafo, Israel
- Website: www.paykey.com
- Total disclosed funding: $26M
- Latest round: Series B (Nov 20, 2017)
- Investors on record: 13

## About

Decentralized Mobile Applications Ltd, through its platform PayKey, provides innovative embedded banking solutions that enhance the financial experience for users by enabling timely access to earned wages.Decentralized Mobile Applications Ltd, founded in 2015, is based in Tel Aviv-Yafo, Israel. The company focuses on delivering real-time embedded banking solutions. It has completed a total of 6 deals, with its most recent funding round occurring in November 2017, when it raised USD 10.00 mn in a Series B round from SCB10X. CEO Sheila Kagan leads the company, which has not undergone any noted pivots in its business strategy.PayKey specializes in providing embedded banking solutions that cater to the evolving financial needs of customers in real-time. Their primary offerings include the Salary on Demand and Earned Wage Access (EWA) solutions, enabling banks to deliver immediate access to earned income prior to typical payday schedules. These products are designed to enhance financial flexibility for employees and reduce reliance on high-interest credit options. PayKey targets financial institutions, allowing them to leverage its technology for their end-users, primarily employees seeking timely access to their earnings. The company's products are marketed in various regions, including North America and Europe, where the demand for innovative financial solutions is increasing.The revenue structure for PayKey is built around partnerships with banks and financial institutions that implement its embedded banking solutions. Transactions are facilitated through a subscription model, enabling financial institutions to integrate and utilize PayKey's Salary on Demand and EWA solutions within their services. This structure allows banks to offer these solutions to their customers, potentially increasing customer retention and satisfaction. Specific pricing plans may vary based on the integration scale and customer base of the partnering banks.PayKey's future growth strategy includes the development of new products aimed at enhancing its service offerings. The company plans to expand into markets in North America and Europe by leveraging the recent funding raised in November 2017. The USD 10.00 mn from its Series B funding round will be utilized to support initiatives for product enhancements and market penetration efforts. The company aims to address the growing need for instant pay through its innovative solutions, thereby capitalizing on the increasing demand for flexible financial options.

## Funding rounds

- Series B, Nov 20, 2017, $10M — SCB10X
- Series B, Oct 19, 2017, $4M — SBI Holdings, SixThirty, Digital Ventures, Fintech71, MizMaa Ventures, The FinLab
- Series B, Jun 25, 2017, $6M — MizMaa Ventures
- Series A, Nov 22, 2016, $6M — Headline, Magma Venture Partners, MasterCard Investment, Commerzbank, Mouro Capital, Digital Leaders Ventures
- Seed, Jan 4, 2015, $0.4M — Magma Venture Partners

## Investors

- Magma Venture Partners (https://capitalatlas.ai/funds/magma-venture-partners) — Seed, Series A
- Headline (https://capitalatlas.ai/funds/headline) — Series A
- MasterCard Investment — Series A
- Commerzbank (https://capitalatlas.ai/funds/commerzbank) — Series A
- Mouro Capital (https://capitalatlas.ai/funds/mouro-capital) — Series A
- Digital Leaders Ventures (https://capitalatlas.ai/funds/digital-leaders-ventures) — Series A
- MizMaa Ventures (https://capitalatlas.ai/funds/mizmaa-ventures) — Series B
- SBI Holdings — Series B
- SixThirty (https://capitalatlas.ai/funds/sixthirty) — Series B
- Digital Ventures (https://capitalatlas.ai/funds/digital-ventures) — Series B
- Fintech71 — Series B
- The FinLab — Series B
- SCB10X (https://capitalatlas.ai/funds/scb10x) — Series B