accelerated startup in the program
Metaverse 4 Finance Accelerator
Dexy is a first-in-class hybrid neobank that combines the simplicity of fintech apps and the safety of traditional banking — yet powered by the benefits of crypto, decentralized finance and web3.
Dexy is on a mission to bring safe and simple digital asset inclusion to millions of people worldwide. Crypto industry is complicated, unpredictable and rapidly changing, that is why Dexy provides simple safe and secure crypto banking for inexperienced users and helps them sleep at night.
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Full Company name: HyFi Inc.
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Headquarter: Delaware, Miami (Florida)
Meet the startup
Financial Information
Product and Service
While Dexy is simple like other modern neobanks and daily consumer apps, it’s also as secure as a traditional bank, and provides easy access to benefits of digital money - cross-border coverage, 24/7 availability, low fees and high speed. The Dexy banking product today consists of USD accounts for global residents, digital asset accounts (BTC, ETH, USDC), instant cross-border transactions, debit cards with apple pay, and high earnings through DeFi.
Market
The Momentum is here. New tech applications are becoming mainstream: metaverse, gaming, NFTs, virtual realities, crypto, and web3. Most of the world has heard it, but adoption is still low. Only 3-4% of the population is connected to the new financial world. Why? First, Crypto industry doesn’t provide trust and credibility to mainstream users. It lacks regulation and protection in comparison with traditional finance. Second, Crypto is not simple as traditional money and it’s not used as a primary currency yet. Most platforms still provide only complicated trading solutions that encourage users to speculate as professional traders. However, the genesis of crypto utility is using it as a simple daily payment instrument. The market tipping point is very close - in a few years most people will use this new digital money. It will be hundreds of millions of new users with Total Addressable Market of $1trillion USD minimum. Dexy enters this Blue Ocean by creating a product specifically designed for these inevitable market changes.
Traction and Financials
We started building the product as a lean team few months ago and totally bootstrapped it. We leveraged our previous experience investing in and scaling our own licensed digital banks to establish the right partnerships, infrastructure, and nail a ready-to-go beta product. We moved fast. Now, we are in a closed beta with early users and a ready-to-go product we’re aiming to bring to the public market in the beginning of 2023.
Founders and Team
Igor Pesin (CEO/Founder) and Jeremy Berger (COO/Founder) are serial fintech and crypto entrepreneurs who have worked hand-in-hand since 2017. Dexy is the team’s third business together. Originally the team built a fintech venture capital fund (Life.SREDA) in Singapore, which invested over $40m in over 25 fintech startups (7 exits). In 2018, Igor and Jeremy built Arival Bank, a U.S. licensed digital bank, from the ground up. This included: fundraising, product & infrastructure dev, GTM and PMF, team building, compliance framework, & payments — all of which helped Arival Bank scale to over 45 countries and $150m+ turnover. This led to a successful exit. Igor and Jeremy are also joined by two other tech co-founders (Oleg, CPO & Dima, CTO) with after working together for multiple years prior via various ventures and portfolio companies.