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altFINS is a cloud-based platform designed for both mainstream and institutional investors to monitor, analyse and trade digital assets across exchanges. This analytics platform was founded in 2018 by Richard Fetyko based on many years of his Wall Street experience in equity research and development at several investment banks. The motivation was a lack of high-quality tools covering the analysis of business opportunities in digital assets. altFINS wants to be "Bloomberg" for digital assets. 

Tens of thousands of active investors and cryptocurrency traders from all over the world use altFINS monthly. After initial investments from the CB Growth ONE investment fund managed by CB Investment Management and a co-investor totalling more than €1.6 million, altFINS has achieved its planned growth and established itself on the market in a relatively short period of time. The altFINS platform offers a product that brings innovation to a world where there is a growing need for advanced analytical tools. It responds to trends and plans further technological development of the platform, as well as strengthening the team and cooperation with global crypto-platforms and exchanges. In spring this year, it launched its own cryptocurrency AFINS, which serves as a pillar of the platform's loyalty program. 

A unique combination of identifying investment opportunities, technical analysis and also executing the trades themselves.

It processes over 600 mil. daily data points and analytics from 2,600 cryptocurrencies and 25 crypto exchanges in real-time.

The platform is localized in English, it is actively used by 47,000 registered users from 180 countries on 5 continents.

altFINS generates revenue from paid subscriptions. It also has its own mobile application.

It is one of the few Slovak companies to receive the Seal of Excellence award and a grant from the European Commission.

One of the largest exposures of the CB Growth ONE fund managed by CB Investment Management (a subsidiary of Crowdberry).

Richard Fetyko - CEO & founder of altFINS

Technology platform generating revenue from April 2021 (revenues of €209k in 2022).

Projected revenue growth to €2,6 million and break-even point in 2025.

A risky investment with a long-term investment horizon.

Anticipated increase in investment round of up to €1 million with a strategic investor in the blockchain industry to accelerate the platform growth.

Expected return of min. 4 – 7×+ the value of the investment.

Opportunity

Altfins just recently won 3 prestigious awards. According to the ADVFN portal, it is the best crypto-analytics platform in 2023. International Business Magazine named it the “Best Cryptocurrency Analysis and Trading Platform” and Global Business Reviews Magazine named it “The Best Cryptocurrency Analysis Platform in 2023”.

Current achievements

altFINS is a cloud-based platform designed for both mainstream and institutional investors to monitor, analyse and trade digital assets across exchanges. The platform collects real-time data on thousands of cryptocurrencies from multiple exchanges and is capable of performing calculations from 120 technical (analytical) indicators, such as SMA, EMA, MACD and RSI, across 5 time intervals. This comprehensive data and time series analysis is managed by a proprietary data management system. As a result, the platform enables altcoins to be monitored using technical indicators and automated chart pattern recognition, helping traders to take advantage of trading opportunities in the market. The platform already displays the latest market news and fundamental analysis will be added in the future.

Product

Business model – main sources of revenue:

The altFINS team currently consists of 8 people, and the company plans to further expand several specializations – including marketing positions, business development, a research and analytics team, as well as a team providing technical development of the platform.

In addition to the founder, the leadership team has been expanded to include other strategic positions who will work on the company's expansion and partnership development.

Richard Fetyko – Founder and CEO – worked for 14 years on Wall Street in New York in equity research and development at several investment banks such as Janney Montgomery Scott. He focused on the internet, technology and media sectors, and his clients included asset managers in the US. During his career, he was named among the top analysts multiple times (such as StarMine Analyst Awards or The Wall Street Journal "Best on the Street"). He decided to transfer his financial, analytical and business experience to the crypto-asset market.

Tomáš Fecko – CTO (Chief Technical Officer) – an experienced software developer and architect who has gained experience in various international software development teams. He co-founded two startups – a fintech startup for algorithm trading and a startup for retail e-commerce, where he also served as acting CTO.

Marek Hric – CRO (Chief Research Officer) – is leading market research on digital assets, preparing fundamental analysis and reports. He has experience from abroad, mainly as a portfolio manager / trader within the Erste Group in Vienna, but also from London, where he studied.

Team

altFINS operates in a market whose value is accelerated by advances in digital assets and blockchain solutions.

221 million crypto-investors worldwide, estimated to grow to 1 billion within 10 years.

The market capitalization of cryptocurrencies is currently more than $1 trillion.

There are more than 6,000 crypto-assets and more than 400 exchanges on which they are traded.

The cryptocurrency market is fragmented and not very sophisticated.

Acute lack of robust tools for quality investment analysis.

After the succession of negative events at the beginning of 2022, there has been a so-called cleaning of the market from projects that do not stand on a realistic basis.

Weak competition due to the complexity and need to process huge amounts of data (600 million daily data points and more than 2 billion daily calculations).

Investment in cryptocurrencies and blockchain technologies reached over $30 billion in 2021 and 2022, a year-on-year increase of over 450% compared to 2020.

altFINS is currently the only platform providing information and analysis for the investor before, during and after trading.

Source: Crypto.com research, KPMG Global “Pulse of Fintech” report

Market and competition

Technological risk – As smart technologies such as blockchain technology are still at a relatively early stage of development and its experimental application carries significant operational, technological, financial, regulatory and reputational risks, there are inherent risks that such protocols and systems may contain vulnerabilities or bugs.
The cloud technology of altFINS is secured by a German company operating in Košice with many years of experience in the development of such complex products. It would cost several million euros to develop such a platform abroad. There is no 100% certainty that a problem or hacking of the system will not occur, so far such an issue has always been solved within minutes. In addition, the company is just brokering the trade, the risk of possible misuse of data is mainly carried by the respective exchange.

Operational risk – Technology companies of this type often face significant financial and operational risks. Companies are often faced with unexpected challenges in, among other areas, product development, marketing, financing and general management that often cannot be resolved in the short term. 
The operational risk is not much higher than for any software company. All calculations and data on the platform are automated, extensive testing takes place before anything goes "live". The risk with automated computing systems is much lower than human failure.

Regulatory and tax risk – The Company may be affected by newly introduced regulations relating to the trading of cryptocurrencies or digital assets, including the need to take steps to comply with such regulations or the need to address inquiries, notices, requests or enforcement actions by regulatory authorities, which may involve significant costs and may also require certain modifications to the Platform. Also, the tax aspect of tokens may be uncertain and dependent on the jurisdiction in question.
Regulation can only help the digital assets. Even some of these assets, which are centralised, are regulated by certain authorities, for example in the US, and in Europe regulation has also been under consideration for some time. This will increase the credibility of reputable types of cryptocurrencies and at the same time exclude dangerous ones that do not stand on any real basis and use. Taxing profits is not seen as a major obstacle as all types of investments are taxed by default.

Market acceptance risk – Cryptocurrencies do not meet the definition of a currency, they are not a currency issued by a central bank, nor are they backed by any assets, which may inspire distrust in the broader population and thus slow the development of this segment as well as the platform.
For example, some cryptocurrencies known as stablecoins are backed by currency, mostly US dollars etc. Also as we are not talking about universally accepted currencies (yet) there is no need for acceptance by society at large. For example, not everyone in society invests either, only a part of the population invests in assets, but this is more common abroad and people are used to taking more risk when investing.

Risks

Co-financing of a grant from the European Commission obtained for the development of the platform, 

securing financing for a company until the arrival of a strategic partner.

Investment purpose

Forbes.sk: Slovenský Altfins získal 800-tisícovú investíciu, plánuje spustenie vlastnej kryptomeny

Czechcrunch.cz: Ukazuje vývoj krypta i zajímavé obchodní příležitosti. Slovenský startup teď získal přes 20 milionů

eu-startups.com: Slovak fintech platform altFINS secures €1 million seed funding for global expansion

news.microsoft.com: Slovák vytvoril platformu na analýzu a sledovanie kryptomien. Spracúva dáta z kryptobúrz na celom svete

emerging-europe.com: Slovakian start-up altFINS joins ranks of start-ups upgrading cryptocurrency infrastructure

innonews.blog: Liga výnimočných: 18 špičkových slovenských inovačných firiem s certifikátom Európskej komisie. Získajú podporu aj na Slovensku?

crypto-current.co: Richard Fetyko on Scanning, Analyzing, and Trading Altcoins on altFINS (Episode 222)

badcryptopodcast.com: Tracking Altcoins with Richard Fetyko of altFINS

Media

altFINS- Screen, Analyze & Trade Altcoins.

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altFINS

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Natália Jašková

Investičná príležitosť altFINS | Crowdberry

Smart analytical platform for screening, trading and management of digital assets with a global footprint

Crowdberry investors have already invested over €65 million in over 40 companies.

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