# The VIT Initiative

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/the-vit-initiative

- Industry: Healthcare IT
- Headquarters: Pittsburgh, US
- Website: www.vitinitiative.com
- Total disclosed funding: $0M
- Latest round: Seed (Jun 30, 2020)
- Investors on record: 3

## About

The VIT Initiative, LLC specializes in facilitating cash conversion through credit card transactions, focusing on high liquidity items like gift cards and electronics, catering primarily to the Japanese market.Founded in 2015 and headquartered in Pittsburgh, US, The VIT Initiative, LLC is engaged in enabling efficient cash conversion for consumers. The company, led by Andy Chan as both founder and CEO, has completed 5 deals, with the latest funding round being a Seed round in October 2021, raising USD 0.030 mn from Innovation Works. The firm has not undergone any changes in its core business strategy or structure since its inception.The company's primary offerings revolve around facilitating cash conversion through credit card transactions, specifically focusing on high liquidity items such as gift cards and electronic products. Their service model enables users to purchase items that can be easily liquidated for cash, emphasizing products like gift cards from major retailers (e.g., Amazon gift cards) and consumer electronics such as smartphones and tablets. These offerings cater to individuals seeking quick access to cash, particularly in situations requiring immediate funds. The company primarily serves the Japanese market, targeting consumers who are familiar with credit card usage and are in need of efficient cash conversion methods. The ease of online transactions and the ability to handle electronic gift cards further streamline the process, appealing to tech-savvy users and ensuring that the services fit the digital economy.The revenue model is structured around transaction fees associated with the conversion of purchased items into cash. Clients typically engage in transactions by acquiring gift cards or electronics through their credit cards, which the company then facilitates converting into cash either directly or via specialized agents. The transaction structure involves B2C interactions, where consumers purchase items and subsequently sell them at a markup, enabling the company to maintain a percentage of the transaction as revenue. The flagship product, the Amazon gift card, often serves as a gateway for initial interactions, establishing a customer base that relies on the company for rapid cash access. While specific pricing plans are not disclosed, the operational model indicates that revenue is generated through transaction fees based on the value of the items sold, ensuring a consistent income stream aligned with consumer demand for quick cash solutions.In October 2021, The VIT Initiative, LLC was acquired by Sword Health, Inc., which aims to augment its commercial growth through this acquisition. While specific details about new product launches or market expansions have not been disclosed, the funding raised from the Seed round is expected to support the company's initiatives in enhancing its service offerings and possibly reaching new consumer segments.

## Funding rounds

- Seed, Jun 30, 2020, $0M — Innovation Works
- Seed, Dec 19, 2019 — SOSV, HAX
- Seed, Aug 31, 2016 — Innovation Works

## Investors

- Innovation Works (https://capitalatlas.ai/funds/innovation-works) — Seed
- SOSV (https://capitalatlas.ai/funds/sosv) — Seed
- HAX — Seed