NEOTEC invests 250.000 euros in the startup Beseif to consolidate its project

  • Beseif is a payment and shipping system specialized in merchant escrow services between individuals who buy and sell second-hand items.
  • The Basque startup will use the investment from NEOTEC to research the best alternatives and implement dynamically generated Smart Contracts for secure payments using Blockchain technology.

Beseif, a platform for payments and shipments between individuals, has received  250,000€ in non refundable fundings from the CDOT’s NEOTEC program. The CDTI is a public business entity, dependent on the Ministry of Science and Innovation, which promotes innovation and technological development of Spanish companies.The NEOTEC aid program provides funding to companies to launch projects using innovative technology or knowledge developed from the research activity and on which the business strategy is based on technology development.

Beseif will allocate NEOTEC’s investment to research on dynamic generation of Smart Contracts for the creation of payment systems on Blockchain technology.

“Currently we only have one product on the market aimed at the niche of physical product Marketplaces P2P , but with this economic support we are going to develop our own banking core based on Blockchain technology that will allow us to expand the catalog of solutions and offer personalized payment systems to the entire ecosystem of non-cash transactions: ecommerce, Marketplace, Fintech, Crowdfunding, Proptech, Insurtech, Regtech, etc. ”, explains Alberto Aznar and Silvia Romero, co-founders of Beseif.

With the current solution, Beseif’s mission is to make both buyers and sellers feel safe. To do this, the system protects the money from the operation in a secure deposit until the buyer verifies what has been received and is also in charge of collecting, sending and returning the package, if necessary.

Since its launch in 2018, Beseif has managed more than 1,000,000€ in second-hand purchases and has integrated its services into 12 Marketplaces. “The Marketplaces business model is evolving from advertising to transactional. Systems like Beseif allow Marketplaces to begin to monetize the transactions of their sites with commissions, so we are in an ideal market moment, ”Aznar and Romero assure.)

Beseif has been adapting its product to the needs of users and the market, adding new functionalities and optimizing the platform. For 2020, the firm will incorporate value-added services, expanding shipping options (it will include the possibility of large-volume shipments such as furniture) as well as new payment methods such as payments in installments.)

Beseif has been part of the Banco Santander acceleration program (2016), has participated in the third BerriUp accelerator program, received an investment from Geroa Pentsioak and is currently seeking investment in private funds.