Omar Vargas-Enciso
Pompano Beach, FL (USA)
Role(s):
Other
(PCF) Praxis Financial Group.
Find More Startups
Startup
Location:
Pompano Beach
Industry:
Technology/Web
Year Founded:
2023
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Not Incorporated
Description:
(PCF) Praxis Financial Group. is looking for 800k-1.3 million (1 million more advantageous) in startup capital to upstart our catalyst Technology/Web business. The concept is a peer to peer lending network that allows the middle income individual to become a lending and has been validated by a world-class development firm we work with in Broward County close to our location. We are two founders and a tech liaison.
WHO ARE WE? Omar Vargas and Jayson Julian are Licensed Insurance Agents and Annuity Salesmen each with military backgrounds.
Omar Vargas is the spearheading founder behind the project with algorithms and other product lineups validated. Our Tech liaison Renee, has acted as our hands-on resource procurer for talent and updating of this software which will debut as a web application.
WE are looking for Angel Investors and Venture Capitalists who are understand of the IP process, contracting, peer to peer transactions and LCM or are willing to understand the concept. Angel investors who are willing to present themselves are long-term partners. Investors who understand they must not tinker with the development process but enforce lean implementation and validating learning
Our concept is to build a web app and mobile app that allows:
A P2P lending software for the average person to the corporation or any large entity.
Interest Pre-calculation Algorithm Programming
Our Infamous: 'Meet your Lenders' page
A risk diversification of a lenders principal across different pools (for example lending 25,000 with a fourth being allocated to a different lendee).
A fund to comprise of many lender's individual funds compiled to utilize the law of large numbers bringing extended returns based on the compound interest rate.
An index is placed to show the spread between the interest rate of 1 lender at the same amount the individual lender has lent compared to a stack of 10 co-lenders. For example: 10 lenders lending 50,000 making 500,000 of a sum means they get to make 5% interest total, that sum can be distributed equally among the lenders provided there are no defaults.
Recourse and Non-recourse lending included, non recourse will be backed in case of default on an indemnity basis to lenders if any portion of their principals are lost. If they are still in green stats (projected to make interest gains from other pools) there will be no indemnity settlement.
(PCF) Praxis Financial Group. is located in Pompano Beach, FL and currently has average monthly sales of Less Than $2,500. Below, I have included some other important details about the funding that we need.
(PCF) Praxis Financial Group. is primarily interested in these funding sources, but will consider all inquiries:
-Equity Funding (Venture Capital, Angel, Private Equity, etc)
-Alternative or Loan Funding
Once fully funded, we intend to use this capital for these purposes:
Purchase of the Code and Software
Running of the Servers
A Company office located near a Data Center/Colocation center
Darwin Chambers
Basic Office Expenses
Hosting fees/Preliminary Advertising
Initial reach-out and clientele prospecting
Services we will offer:
- Risk management for Lenders both fair and equitable for lenders who lend jointly or severally
- Underwriting and Specialized Verification, referencing, adjustable and bulletproofed insuring of loss (indemnity)
- An alternative to making money through speculation, toil or waiting on an annuity to pay out.
It is a way to passive invest with less risk and preserve returns.
- Lender may elect to take his unrealized gains and invest them in a local portfolio of stakes we have or the public Stock Exchanges if they choose. Once gains are withdrawn and deposited they are taxed unless re-lent.
- Two types of funds: Fixed Participation Lending pools, Variable Participation Lending