This is the story of how Marco Lavanna’s Paytah is becoming the Next Big Thing in providing banking to successful businesses shunned by the traditional banks.
Paytah is the Malta-regulated financial institution that could well become the Next Big Thing in providing banking facilities to profitable, licensed and regulated (where necessary) businesses that traditional banks want to ignore.
Marco’s business life started when he was in his 20s.
Thinking that he’d become an academic, like the rest of his family before him, Marco instead discovered his innate entrepreneurial flair. He was fast and skillful at using 1990s de-regulation to challenge the dominance of the postal and telecommunications monopolies, unused to competition. With hardly any startup capital, he built businesses that made life cheaper for millions of consumers.
In the late 90s, Marco sold them, pouring the proceeds into GoldX, an e-Gold exchange he founded in Australia.
It seemed, quite literally, that everything Marco touched turned to gold.
But the US Government, in the meantime, was having concerns with the entire e-Gold industry.
Marco, though, had thousands of happy customers. He was serving them transparently and thoroughly, with full anti-money laundering and KYC checks and audit trials. Even though this wasn’t legally required at the time.
But then, overnight, his entire capital was confiscated by the US Government. That drove him to depression, but he bounced back, founded another new business – with nothing – and finally, in 2013, the confiscated funds by the US authorities were returned.
With those he was able to launch his now regulated financial institution, Paytah.
You’ll discover in this podcast:
- How having all his business’s funds confiscated by the US Government affected Marco. How he went from depression, staring at walls, to starting another business – with nothing.
- What he did when he was completely vindicated by the US authorities, with every cent being repaid, and how that enabled him to establish Paytah – and soon-to-be-launched Monetum.
- Why Marco is challenging another set of fat, slow, unresponsive industry dominators: traditional banks.
- Who exactly the customers are that are being shunned by traditional banks- and why? Can Paytah serve them? What’s the catch?
- How Paytah is regulated and how that gives it competitive advantage against UK based “challenger” banks, such as Revolut and Tide.
- How big this new market is. What’s the upside?
- Whether or not Paytah, led by Marco Lavanna, will become the Next Big Thing in providing banking services to the already large, growing “deserving under-served” banking market.