Fintech MVP is profitable from day 1
About
The continuous improvement of a Fintech app
Zodaka is a startup that provides a secure payment app for high-risk fields such as the cannabis industry in California. By focusing on a market that has few options to commercialize products and services while remaining compliant with regulations, they created a software that intermediates and validates financial transactions between consumers and merchants.
Challenge
Building a cost-effective MVP
Zodaka came to us looking for a fintech software development partner to create the app’s MVP and then expand upon it. Our productive and cost-efficient nearshore outsourcing model was much more aligned to their startup than the elevated costs of hiring an in-house team in Silicon Valley. As an added bonus, the close time zone between our office in Colombia and the West Coast allowed better collaboration in the distributed team.
Solution
Leveraging the initial version into a more complete product
Our first big milestone happened in November 2017, when the finished MVP was presented at the Marijuana Business Conference in Las Vegas. A few months of continued product development later, and after undergoing testing with several merchants in the industry, the official app was released.
The app offers different views, each one focused on merchants, consumers, partners or Zodaka administrators. The software also has an API that connects the platform to the merchants’ own applications. One of the project’s technical challenges was building a software architecture that could support frequent changes to comply with the legal requirements of high-risk industries.
Results
Payment platform for high-risk industries surpasses 5 thousand users
As a user-oriented startup, Zodaka is constantly growing according to users’ feedback and market’s needs. To facilitate these changes, the team in Colombia works at a constant and productive rhythm, building small proofs of concept and proposing increments in order to validate new functionalities, and only then investing a significant amount of time to develop them fully. We've also put into practice Scrum ceremonies to reflect on continuous improvements and keep communication flowing.
The team has always put the code's legibility and quality first. From the project’s beginning, we’ve worked on building a robust and scalable structure that can support the app's growth without losing speed and efficiency. Today, Zodaka has over 5,000 registered users and we continue to implement new functionalities on an ongoing basis.
Bloomberg modernizes its core products
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Product development based 100% on user feedback takes a startup to the next level
From innovative startup idea to successful unicorn company
Product development based 100% on user feedback takes a startup to the next level
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