Venture leader fintech revolutionizes decentralized finance with cross-chain services, yield farming and Swiss crypto banking integration – Venturelab

November 24, 2023 10:00 a.m., Rita Longobardi

Meet Marcel Harmann, CEO of THORWallet. The fintech startup integrates Swiss crypto banking and credit card services, offering a comprehensive crypto neo-banking experience.

Surname: Marcel Harmann
Location: Schwyz
nationality: Swiss
graduate: UZH
Job title: Founder
Number of employees: 8th
Money collected: $5 million

“Work hard, but don’t forget to enjoy the ride.”

Can you tell us who your product or solution helps and how?

Our vision is to provide all the financial services a person needs based on the open, fair and transparent DeFi technology. This includes a wallet for self-custody, trading, savings accounts, and lending and borrowing. All these services are accessible without intermediaries and completely without custody. It helps provide banking services to 1.9 billion unbanked people who own a mobile phone. With its Swiss bank account and credit card services, THORWallet has evolved into a DeFi neo-banking app and we also target users with FIAT currency needs.

Which market are you addressing and what potential does your startup have in this market?

With our universal banking offering based on self-custody DeFi technology, we address 1.9 billion unbanked people who own a smartphone and have a desire to access financial services. We also address the Western world with our Swiss bank account and credit card services.

How and where did you come up with the idea for your startup?

The idea was to create an app that would allow users to earn real returns from their crypto assets in a completely non-custodial manner, such as through a savings account, without the involvement of a middleman. We now have this among many other offers.

What do you expect from the Venture Leaders Fintech Roadshow and how will it help you realize your vision?

I believe it will help set the stage as a global player, increase our visibility and international presence, promote our growth through networking and mentoring, and give us access to global investors.

What are your team’s most important achievements so far?

A working product with over 50,000 downloads that generated revenue from day one and provided a clear path forward. We achieved continuous growth and strived for innovation, for example, we were the first mobile app to offer true cross-chain swaps or savings accounts in the DeFi space. We were lucky enough to win the 2022 edition of Startup WorldCup in Dubai and also be chosen as a Top50 CVVC Crypto Valley Ecosystem Project.

Is there a key principle or value that guides you as you build your business?

We are hyperfocused and try hard not to get bogged down. Our structure is extremely lean and resource-efficient. The performance of our team is consistently high. We try to live the ethos of the blockchain space – be fair, open, and support other people and projects.

What is the most important lesson you have learned as a founder?

You have to know what you’re doing. You need a game plan. You have to keep track of things at all times. Your core team must consist of quality players who have an incentive to stay long-term. Work hard but don’t forget to enjoy the ride.

What is your favorite productivity hack or tool and why?

Meditation. It reduces noise and makes you more alert. You make better decisions, especially in high-stress situations. Then it matters most.

ABOUT THE PROGRAM

The Venture Leaders Fintech 2023 were selected from over 60 applications by an expert jury. The London roadshow will accelerate the growth of their ventures and expand their international presence. Venture Leaders Fintech is organized in collaboration with Swissnex and supported by EPFL, ETH Zurich, Postfinance and Walder Wyss.

THORWallet is a fast-growing iOS, Android and web-based DeFi app that provides integrated financial services such as trading, yield generation, lending and borrowing based on true cross-chain decentralized… Read more

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