Striga Technology Analysis: $125K Raised

• Sandbox: Free
  • Simulated KYC & Onboarding
  • Unlimited accounts, wallets, and cards
  • API credentials and Postman collections
  • Card Transaction Simulator
  • Account Deposit and SEPA Simulator
  • Testnet Crypto & Simulated EUR payments
• Starter Plan: €1,989 per month
  • User Onboarding: KYC & Ongoing AML/CFT
  • Managed Bitcoin & Crypto Wallets
  • Dedicated asset deposit addresses
  • Crypto on-ramp and off-ramp
  • Instant swaps & exchange
  • Lightning Enabled
  • KYC - Tier 1: €1.96/user
  • KYC - Tier 2: €1.14/user
  • Monthly fee per Active Wallet: €0.5/wallet
  • Digital Asset Custody: 0.1% of assets under management/month
  • Dedicated vIBANs: €0.2/vIBAN
  • SEPA transactions: €0.55/transaction
• Pro Plan: On Request
  • Everything in Starter +
  • Self-branded VISA cards
  • Plastic Cards: €4.5/card (minimum stock of 1,000)
  • Virtual Card Issuance: €0.6/card
  • Payment fee at POS: €0.15/authorization
  • Payment fee online: €0.28/authorization
  • ATM cash withdrawal (Domestic & EEA): €2 + 0%/withdrawal
  • ATM cash withdrawal (International): €2 + 3%/withdrawal
  • Monthly fee per Active Card: €1/card
• Enterprise Plan: Custom
  • Everything in Pro +
  • Automated KYB
  • Self-branded VISA corporate cards
  • Lightning network support

Revenue generated through transaction fees and service subscriptions for API access.

Striga Technology operates in the financial technology sector, focusing on APIs for crypto and fiat transactions. Its main competitors include:

1. Solid (Solid Financial Technologies): Provides banking, payments, and crypto services. It has raised $17.8 million in funding, indicating stronger financial backing compared to Striga.

2. Coinplus: Offers a physical cryptocurrency vault and has a smaller employee base with $229.3k in funding, suggesting a more niche focus.

3. Spendl: Provides a Chrome extension for Bitcoin payments with a very small team and no disclosed funding, indicating a specialized service.

4. Paid by Coins: Offers a bill payment service using cryptocurrencies, operating in a similar space as Striga.

5. Plaid: An international data network that simplifies payments and has partnerships with over 8,000 companies, providing a robust infrastructure.

6. Wallester: Specializes in virtual cards for business expenses, offering a large number of cards with no fees.

7. BitGo: Focuses on institutional clients with custody and security solutions for digital assets.

8. Alviere Hive: Integrates financial products with customizable branded cards and FDIC-insured banking services.

9. Sila: Provides Banking-as-a-Service through a developer-friendly API, focusing on scalability and security.

10. Stripe Crypto Onramp: Offers a customizable solution for buying crypto instantly.

11. MoonPay: Known for its fast and simple cryptocurrency buying and selling process.

12. Wyre: Provides crypto to fiat exchange solutions via API.

13. Ramp Network: A finance automation platform that helps businesses reduce costs.

14. Transak: A global fiat on/off ramp and onboarding toolkit.

These competitors differ in their specific offerings, such as ease of integration, transaction speed, and additional services like compliance solutions, which can influence their competitive positioning against Striga Technology.

• Y Combinator
• Rhombuz Ventures
• Binance
• Berkeley SkyDeck
• Amand Ventures
• Artesian

Striga Technology primarily focuses on the financial technology industry, specifically in providing infrastructure for cryptocurrency and fiat transactions, including licensed APIs for money movement and banking solutions in Europe.