Earlier this year, plastic card industry disrupter, Bouxtie (Bow-tie) launched their app in Canada, making it available in both Apple and Android formats. In tandom, they came to Toronto to meet with Keiretsu investors as the first stop on their global tour. Heading on a 40 day, 12 city and 3 continent tour is a strategy to “boldly go where no start-up has gone before”, says Renato Libric, Founder & CEO of Bouxite, quoting Captain Kirk. It’s a huge effort in a short time frame to explore new markets, seek out new partnerships and obtain strategic investors.
Libric understands that the plastic card industry is not just big business, but business on a galactic scale. In the US alone, it’s a $175 billion industry and in Asia $200 billion. Moreover, Bouxtie’s 3-pillar segmentation model (consumers, employees and appeasement) clearly classifies the company as more than just a plastic cards company, but as a digital currency company. And that provides almost overwhelming possibilities.
“We’re very excited to introduce Bouxtie to some key retailers and investors in Canada,” says Kevin Sterling, president of the Toronto Chapter of the Keiretsu Forum. “They’ve done a great job of securing hundreds of great partnerships with retailers and brand names in the US, and we want to help them get a quick foothold into the Canadian market as well.” That means signing up key Canadian retailers quickly in order to offer a more robust experience when using the app. Retailers in the US have found working with Bouxtie to be a win-win. Their normal 45 day payment process is dramatically shortened to under 24 hours, they have access to consumer ‘big data’ like buying trends and they have the ability to monetize social media followers into shoppers. All this coupled with the average 30%-overspend of the gift card value that happens in store, makes Bouxtie’s business model an easy sell.
For consumers, it’s the video messaging and the easy 3-step process that make the app stand out. And that interests investors. “For investors it’s very appealing,” says Ozan Isinak, President of Keiretsu Forum Central Canada Region. “This is one of those rare instances when the exit strategy may present itself even quicker than anyone believes possible. Bouxtie’s innovative applications, quick growth and global appeal are what our investment members look for.”
For more information on Bouxtie or Keiretsu Forum please connect with Susi Graf at firstname.lastname@example.org.