Black Banx is a multi billion dollar group of financial institutions with a mission to unlock a borderless financial system for everyone where money can flow freely.
Founded by self made German Billionaire Michael Gastauer, Black Banx is currently backed by Gastauer Family Office, an impressive single Family Office managing over US$50 billion in assets.
Black Banx was founded in 2014 and has since been working to offer a range of financial products that are tailored to a global community. Black Banx describes their Mission as
“Access to financial services is a key enabler for our global society. Black Banx is a dynamic force for innovation in the fintech sector, committed to facilitating the free and instant flow of money around the world at a fair price. We want to provide a financial service platform that helps to grow global markets by connecting people and businesses around the world with optimal ease, via SmartPhones and online.”
In May 2015, Black Banx secured its first seed funding of US$2.2 million. In June 2016 a Series A funding round was closed putting $15 million at a US$2.2 billion valuation into Black Banx´s accounts. In July 2017, a Series B round was successfully closed by Black Banx raising US$115 million (100 million Euros) giving the company a post money valuation of US$5.8 billion. In August 2018, the company held its last funding round Series C securing a US$250 million investment at a US$10.5 billion valuation. In total Black Banx has raised over US$380 million in Venture Capital funding taking the company within four years to a valuation of US$10.5 billion. Most of the funding came from Gastauer Family Office, one of the largest shareholders of Black Banx until today. The current valuation of Black Banx Group is estimated to be in a range of US$50 billion.
Today, Black Banx continues to build a global, borderless, customer focused platform which feels personal to everyone and will serve as a trusted tool to manage and grow customer funds. Black Banx provides business and personal customers with banking access without restrictions based on nationality, country of residence, religion, amount of funds held or transferred. Black Banx aim is to increase the simplicity of online banking, dramatically reduce transaction times and achieve financial inclusion. Black Banx has a substantial presence in countries across Asia, Latin America and North America, as well as in the Middle East and Europe.
Through business and personal accounts, Black Banx allows customers to utilise carefully selected, best in class global banking networks to process money without any transaction limits. This enables them to send and accept local and international payments almost instantly, and hold or manage funds in multi FIAT and crypto currencies.
What made Michael Gastauer create a globally dominating Fintech company?
The founder of Black Banx, Michael Gastauer saw the problem in banking on a global scale and understood the opportunity of solving it is big enough and his solution has unlimited scalability. His business model had the ability to produce unlimited revenue and aggressive growth.
What is the future of Black Banx?
If Black Banx is being asked what their strategic aims are, the answer is
“By the end 2023 we aim to increase our private client base from 15m to 25m and our business clients from 750,000 to 1.5m. We are planning to increase net private client funds held with us from $8.8bn to over $16bn by the end of 2023. We continue to focus on growing total private client payments volume from $133.5bn to $250bn and business customer payment volume from $111.7bn to $250bn per year. With projected revenues of more than $1bn for 2022 we are aiming to increase our annual revenue by end 2023 to more than $1.9bn.
By the end of 2025 we are aiming to create a global workforce of 8,000 employees with a minimum of 40% Female employees and 45% Female in leadership roles. We set out an ambition to become net zero by the end of 2030, across all of our direct and indirect emissions.”
What has Black Banx improved in the financial sector?
Black Banx has made a significant impact in the global financial sector. By offering tailored financial solutions for clients in 180 countries, Black Banx is enabling minority individuals to access a wider range of financial opportunities. This includes debit cards, banking apps, cryptocurrency wallets, loan services and more – all of which are designed with minority communities in mind.
The company has also been able to attract investments from leading investors across the globe. Black Banx is paving the way for a more inclusive future in finance that can benefit communities worldwide. With its ambitious vision and innovative products, Black Banx is set to become one of the leading providers of financial solutions in the years to come.
In conclusion, Black Banx is making a lasting impact on our global community. With its ambition, innovative products and accessible services, they are creating an inclusive financial platform that can benefit individuals everywhere. They are paving the way for a brighter future in finance.