Project description
Innovative system for true digitalisation of transactional administration
The trade finance market is a multi-trillion euro industry. However, there is an unmet demand and low-value transactional administration reduces revenues. The EU-funded QuidProQuo project will develop an ecosystem of smart, integrated platforms and services that permit true digitalisation of transnational administration in the trade value chain. The system can save up to 12 % of the annual revenue and provides trade finance for small and medium-sized enterprises (SME). QuidProQuo targets enterprises involved in trade settlements, payments, finance, and other stakeholders. Over 60 customer discoveries with enterprises of various sizes and industries demonstrated a definitive demand for the system. The project aims now to identify pilot customers.
Objective
QuidProQuo is an ecosystem of intelligent, integrated platforms and services that enable true digitalisation of the trade value chain. We are starting with trade settlements, payments and finance.
QuidProQuo removes all low-value transactional administration from the trade value chain for any enterprise. This can save up to 12% of their revenue. It also provides trade finance for SMEs.
The trade finance market is worth $9t annually, however there is an unmet demand of $1.6t.
We have completed over 60 customer discoveries with enterprises of various sizes and industries. These demonstrated a clear demand for QuidProQuo. We are now working towards identifying pilot customers.
QuidProQuo will be sold to enterprises involved in trade settlements and finance, and other stakeholders. We will charge a 1% commission to trading enterprise on the value of payments. Our first commercial targets will be trading firms in the EU and the US where we currently have a presence
We have a world-class team drawn from banking, law, technology, and business management, so are uniquely positioned to deliver our vision.
Key partnerships secured: Launchbadge for with turn-key development capacity for our distributed ledger technology.
Projected sale volume in 3 years: €600m cumulative gross profit 3 years following commercialisation.
ROI: 120x the investment of €5m needed to reach commercialisation.
Fields of science
Programme(s)
Funding Scheme
SME-1 - SME instrument phase 1Coordinator
W23 R20V LEIXLIP KILDARE
Ireland
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.