bit

Company Overview

Snapshot

Founded in December 2016, bit operates with 1–10 employees. The company has not publicly disclosed any funding rounds or investors to date. bit offers a P2P mobile payment solution, enabling users to send and receive money via their contact lists.

Business overview

bit provides a free P2P payment platform that allows users from any bank to send and receive money using their contact list. The application facilitates transactions by charging the sender's credit card and directly depositing funds into the receiver's bank account. Developed by POINT, the Poalim Innovation Team, bit operates within the Fintech & Insurtech sector, specifically focusing on mobile payments and money transfer & management for consumers in Israel.

Company Intelligence Q&A

What is bit's primary product?

bit's primary product is a free P2P mobile payment application that enables users to send and receive money through their contact lists, facilitating direct bank account deposits from credit card charges.

Which market does bit primarily serve?

bit primarily serves the Israeli market, providing its mobile payment solution to consumers across the country.

What is the core technology behind bit?

The core technology behind bit involves mobile platforms and interfaces, leveraging P2P data storage to facilitate secure and efficient money transfers between users.

Who developed the bit platform?

The bit platform was developed by POINT, which is the Poalim Innovation Team.

What is bit's business model?

bit operates on a B2C (Business-to-Consumer) business model, offering its payment services directly to individual users.