Runway to RISE Seoul: Korean Startup Cashmallow

Cashmallow

Korean Startup Cashmallow offers a minimal 1% service charge for all currency exchanges.  Furthermore, users will be able to exchange currencies anywhere and anytime via their mobile phones.  They offer 7-day customer support.  They also have affiliate stores where you can apply for cash withdrawal.  Local currencies are withdrawn without additional service fees.  Lastly, Cashmallow users can pay with a QR code scan at no extra charge.

Therefore Cashmallow offers the most economical way to exchange currency.  Currently, they are serving Korea and Taiwan but already have plans to expand to Hong Kong, Japan, Vietnam, Philippines, and Singapore.

Keys to Winning at Runway to RISE Seoul:

  • They will need to show how easy it is to set up and use.
  • Graphs that show how much money users will save.
  • Show their plans to expand to other markets.

Breakdown:

It is be crucial for the team to show how easy it is to use the Cashmallow app.  They will need to show the user experience from depositing the money and then exchanging the money on the mobile app.  To show this to the judges they might need to tell a story, a person travel to Korea or to Taiwan.  Simple graphs showing the amount of money saved will also be helpful.  Lastly, they need to show how their app is doing in Taiwan and how they will expand to Hong Kong, Vietnam, Philippines, and others.  In addition, they should also talk about their interest in the European and American markets.

John Yoon

John Yoon is the Editor in Chief at Startup Radar, Organizer for Startup Festival 2017, and the Intl. BD Manager at 500v2. Email = john@startupradar.asia Wechat, Kakao, and Line user ID is jswy315

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