When Facundo Corsi started his business in the tech sector more than seven years ago, he didn’t imagine that he would end up engaging in the fintech world to create a “super app” trying to compete with Mercado Pago and the rest of digital wallets and become one of the first “neo banks” in Argentina. However, he found in the segment of game a niche that has become an opportunity.
The gaming industry moves globally between 300 and 400 million dollars a year. “There are already almost 9 million people who, in one way or another, are linked to the gaming sector, be it the gamer, who plays many hours a day, or the occasional gamer who plays with a mobile phone. But it’s a universe of 9 million people who carry out transactions in this universe, where there are precisely no financial instruments aimed at this sector”, stated Corsi in dialogue with clarion.
“We found out seven out of 10 players don’t have access to a credit card. We found it incredible that there are still so many young people outside the financial system and that is why we are convinced that N1u will not only change the way young people interact with finance, but will revolutionize the region as well.”
The app is aimed at the general public, but with a focus on the sub25: “There are no tools that have been exclusively targeted at this sector. By 2027, it is estimated that all young people in the world will be gamers. That is because N1u is a solution designed for today’s consumption, but which has a long-term projection”.
After several months of “testing” in “friends and family” mode, the N1u app will be available to the general public starting this week. It will offer a menu that includes from transfers between wallets, paying for services, even buying and selling cryptocurrencies. Furthermore, since it is aimed at an audience closely related to eSports, it will offer a loyalty program based precisely on gamification.
“We even dated player reloads: where users will be able to top up PlayStation, XBox, Steam directly from the app”, commented Corsi, who announced that in the next two months they will include the “Buy now, pay later” feature as a “citation” purchases made from the app, without the need to use a credit card. They will also release “micro loans”.
N1u’s expectation is to rapidly increase the number of users. “We hope to reach between half a million and 600,000 downloads by the end of the year, with 40% of them being opt-in users who are regular users of the app.” On the expansion map, this app plans to land in two more markets in the region over the next twelve months: Colombia and Mexico.
In an unfavorable moment for the global financing of this type of company, Corsi highlighted that the initial investment was made with own capital, and that only after three years will they think of going out in search of private investors. “We see ourselves as a fintech, but if we can grow at the pace we expect, we will soon be able to have everything a bank offers,” she said.
Source: Clarin
