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Meet Marcel Harmann, CEO of THORWallet. The Fintech startup integrates Swiss crypto banking and credit card services, making it a complete crypto neo-banking experience.
Location: Schwyz
Nationality: Swiss
Graduated from: UZH
Job title: Founder & CEO
Number of employees: 8
Money raised: USD 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 offer all financial services a person needs based on the open, fair and transparent DeFi technology. That includes a wallet for self-custody, trading, saving accounts and lending and borrowing. All those services are accessible with no intermediary and in a fully non-custodial way. It helps to bank 1.9 bn unbanked people who do have a mobile phone. With its Swiss bank account and credit card services, THORWallet has become a DeFi neo-banking app and we also address users with FIAT currency needs.
What market are you addressing and what is the potential of your startup in that market?
With our universal bank offering based on self-custody DeFi technology, we address 1.9 bn unbanked people who own a smartphone the wish to access financial services. Furthermore, we 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 build an app where users can generate real yield on their crypto assets in a fully non-custodial way, such as a savings account with no middleman involved. We do have that now, besides many other offerings.
What do you expect from the Venture Leaders Fintech roadshow, and how will it help you achieve your vision?
I believe it will help to set the stage as a global player, increase our visibility and international exposure, encourage our growth through networking and mentorship, and give us access to global investors.
What are your team’s key achievements to date?
To have a working product with +50k downloads, that generated revenue from day one and a clear path forward. We achieved continuous growth and push for innovation, as we were for example the first mobile app to offer true cross-chain swaps or saving accounts in the DeFi Space. We were fortunate enough to win the Startup WorldCup 2022 Dubai edition and also voted a Top50 CVVC Crypto Valley Ecosystem project.
Is there a key principle or value that guides you as you build your company?
We are hyper-focused and we try hard not to get bogged down. Our setup is extremely lean and resource-efficient. Our team output is high on a very constant basis. We try to live the ethos of the blockchain space – be fair, open and supportive of other individuals and projects.
What is the most important lesson you have learned as a founder?
You need to know what you do. You need a game plan. You need to stay on top of everything, anytime. Your core team needs to consist of A-players, incentivized to stay long-term. Work hard, but don’t forget to enjoy the ride.
What is your favourite productivity hack or tool and why?
Meditation. It reduces the noise and makes you more aware. You make better decisions, especially in high-stress situations. That’s when it matters the most.
ABOUT THE PROGRAM
The Venture Leaders Fintech 2023 were chosen from over 60 applications by an expert jury. The roadshow in London will accelerate their ventures’ growth and expand their international presence. Venture Leaders Fintech is organized in partnership with Swissnex, and supported by EPFL, ETH Zürich, Postfinance, and Walder Wyss.
THORWallet is a rapidly growing iOS, Android, and web-based DeFi app that offers built-in financial services such as trading, earning
yield, lending, and borrowing based on true cross-chain decentral… Read more