Disruptive Fintech Platform
Between graduating University of Torino and taking over the family auto-repair business, Fabio went to London and started a career in finance by trading in Currency & Forex.
In 2018 he returned to take over the management of his family’s successful auto-repair business in the centre of Torino. Shortly after taking over the business, Fabio identified a recurring issue amongst his clientele and due to his commercial mindset went about finding a solution.
The problem? Customers increasingly had difficulty in paying for their repairs.
Increased costs in the repairs sector are making a lot of repair jobs out of reach of customers household cashflows or savings. Many customers either negotiate price reductions or ask to spread the payment, all eating into the repair businesses profit margin and some even left without completing the full job.
These types of situations apply pressure on the customer relationship and are difficult for the business owner. He immediately understood the need to find a solution that would support both his business and the need of his customers.
Once he understood the component parts that he needed, he went about finding a financial partner that would support him in offering his customers a split-payment solution, and in 2019 he reached an agreement with Deutsche Bank to become the first independent auto-repair business in Italy to offer their customers such a product.
Under the original name of LeoX Solution, this smart innovation soon attracted other auto-repairs businesses to ask if he could implement this service for them. He accepted to work with them and charged an annual admin fee of €180. In the same year and with increasing demand, he reached another agreement with Compass Finance to partner with.
At this point he had realized fast growth in the evolution of LeoX which was increasing dramatically but the business couldn't scale at the same pace due to the reliance of manual procedures and the technological limitations of his banking partners.
The turning point came when he met Andrew in 2019, when he entered Fabio’s garage looking to have some repairs done to his car.
He asked Fabio to explain how LeoX worked and immediately grasped the enormous potential of the business, whilst recognizing the need to speed up, digitize and automate the process, in fact, with his experience and network accumulated in the sector, he recognized the type of technologies that needed to be implemented.
Andrew is a serial tech entrepreneur, co-founder of KidSpotter, the world’s 1st child tracking solution, a hardware and software company that designed, developed and built a unique indoor and outdoor wearable tracking device, selling into some of the world’s largest theme parks & shopping malls. Andrew is proficient at bringing new technology solutions to market with over 20 years of international commercialization experience.
Andrew has been involved in commercial, product/solution development, sales and marketing activities for a range of companies from global brands to start-ups. An experienced business developer across multiple sectors during his career his experience covers media, technology, telecoms and product sales to a number of multi-national companies around the world. He has sold technology, in particular digital solutions to companies ranging from multi-nationals, mobile operators City & Regional municipalities.
Together they quickly started to develop the solution foundations by rebranding what is today FixxFi, started developing the framework for the digital solution, found financial partners that could offer a full turnkey from compliance, technical to lending.
FixxFi is a disruptive Fintech, solving everyday real world problems and giving peoples access to a credit fund, that they can use when they need.
We think of FixxFi as a friend, always available when you need them most!
“When Fabio and I started FixxFi, blockchain wasn’t part of our plans. Having spent my entire career in the Technology & Telecoms sector, we understood what blockchain was, but we didn’t have an in-depth knowledge to the power of the blockchain.
I have experience in raising investment for start ups, always through the traditional investment raising process, which I have done several times over the last 20 years, which can be soul destroying. This generally involves many, many meetings sometimes with people who didn’t have the means to invest but act like Elon Musk!
We started down the well-trodden path of looking for investment within the seed and angel communities, until we got introduced to the idea of using the blockchain as a way of raising investment. So, we became students of the blockchain and a whole new world of possibilities was opened up to us. We also identified several long term opportunities beyond the token sale rounds and the potential to bring a blockchain element into the corporate entity.
Our vision for FixxFi is now to merge the two worlds of corporate & blockchain and bring in additional crypto features into the FixxFi platform.” - Andrew Dunne, CEO
FixxFi is disruptive Fintech platform providing embedded finance solutions for the independent auto & home repair sectors. FixxFi gives customers an immediate solution to pay for their repairs at any FixxFi repair partner, through an App based solution with a one-time application and replenishing line of credit that customers can access at the “point of repair”.
Customers increasingly want simple, holistic, embedded, and direct financial experiences. FixxFi meets all these needs with a highly focused, one-time application, giving customers an immediate solution to pay when that unexpected repair bills arrives.
FixxFi’s platform enables repair professionals to provide an alternative payment solution that greatly support their customers, enhance their customer experience and retention proposition, making them differentiators and giving them a competitive advantage. Using Banking as a Service (BaaS) FixxFi leverages being at the interface between repair business and customer, exploiting the digital inequalities of conventional banks and give customers access to their approved line of credit when they need it most, through their FixxFi digital wallet.