How they describe themselves: Online secondhand car fraud was the #2 most common online scam in 2013 according to the European Consumer Centers network. This market represents over 25M transactions yearly in UK, France, Germany, Italy, and Switzerland alone.
CashSentinel developed a solution that combines an escrow service and a mobile wallet, dedicated to facilitating and bringing trust to large transactions between parties that do not have a long lasting, trusting relationship.
CashSentinel concluded a partnership with Swissquote Bank, the leading online bank of Switzerland, and AutoScout24, the leading secondhand car marketplace.
After a successful trial period, the service is set for fully fledged launch and European expansion in 2015.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions