Mid-Month Update, June 2021
Things have been busy at aXpire in the past few weeks, highlighted by the addition of 8 new members to the team in our United Kingdom and India offices. These additions span areas including development, support, design and marketing — and we’re even hiring 10 more folks to join the team over the next month or two, with the expectation that we’ll need to scale hiring even further if we close the deal with some of the active leads we’re working on. Several of these hires are full-time dedicated to the PayBX team, including a new mobile developer, a blockchain developer and a UI/UX designer. Soon, we aim to begin offering development updates and pre-launch marketing campaigns for the PayBX project leading up to release in Q3.
In addition to scaling the internal team, we’re also bringing on partners to assist with other parts of the business. For example, we’re close to finalizing a partnership with a marketing agency to help bring aXpire, AXPR and PayBX into the limelight through targeted marketing efforts. As we close this partnership and they get stuck in, keep your eyes open for increased social activity, paid media content, and other marketing campaigns focused on bringing new members into the AXPR community and driving signups for the PayBX app before the official launch date.
As for active deals, we’re working on several. The large investment bank prospect is progressing nicely and we’re aiming for a phase 1 / pilot roll-out of the ExpenseCore Wealth product for them around September of this year, if all goes well. Depending on our conversations with them and the progress of this deal, we hope to be able to share more information, including their name (if they agree) upon the closing of the deal, if we’re successful.
Beyond this, we’ve also started scaling marketing for Bilr slowly but surely, and are glad to announce that there are several law firms actively using Bilr at this stage, from solo attorneys to larger law firms. For example, we’ve got a pilot with a 300-timekeeper firm later this month, which if goes well, would be the largest current user of the application. As a part of the 10 new hires we’re aiming to make, we’re currently building out a sales team for Bilr as we’ve achieved what we believe is a version of the product that’s ready to meet the market. Sales will help grow the burn, which is currently at $5K USD/month used to buy-back-and-burn AXPR tokens from the open market.
Speaking of the burn, we’ll be doing the burn for last month by next week, with following monthly burns happening at the end of each month. The reason for the delay was setting up automation of the burn so that it happens every month, at the end of the month, like clockwork!
To summarize this update, we’ve been on a hiring spree which is still ongoing, with the new hires enabling us to improve products and our support functions leading up to these larger opportunities, but most importantly to scale marketing, sales, and therefore the AXPR burn. We’re also excited to begin working with the marketing agency that we believe can take our crypto-exposure to the next level in preparation of the PayBX go-live date.
aXpire is an off-shoot of the LegalTech company LSG, with a history of having worked with the likes of Coca-Cola, Nike, Intel, IBM, and other global brands. Founded in 2017, the company offers B2B cloud-based FinTech software solutions and counts a top 10 global hedge fund by AUM amongst its clients. In 2021, the company has launched a further two B2B solutions and aims to release its B2C cryptocurrency payments app, PayBX, by Q3 of this year.