A Brief Overview of WB21 Business Model and Its Benefits for Indian Entities

Jackie Molloy
May 30, 2017 · 4 min read

The Owner of WB21, Michael Gastauer needs no introduction as he is the popular, self-made German Billionaire in his mid 40s and at such early age he managed to successfully accomplish a $480 million and $16 million deals under his name.

His magnificent and globally acclaimed digital banking empire, WB21 has always been discussed. Last year some of the popular magazines like Huffington Post and Forbes published the journey of Michael Gastauer on making a $2.2 Billion Digital Banking Empire in less than 10 months and soon after the news was spread like wildfire virtually.

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WB21, a Singapore based FinTech Company provides robust, real time, online account opening to all the business and private clients from across the world.

It is the robust Web and Smartphone based system that is designed to provide cross brooder account opening platform and payment gateway in more than 18 currencies and equipped to facilitate instant fund transferring and crediting facility to any bank accounts across the world.

Unlike conventional banking system, WB21 charges 10 times less fees from the senders and it helps users to setup new account with the system within 5 minutes and start sending and receiving funds into their account post activation and verification which is available for 24/7.

Each account holder within system receives virtual NFC enabled MasterCard Debit Card which can be used for cash withdrawals and purchases worldwide. All the funds into the accounts are secured at the Swiss Banks and it is preside over and protected by the laws of Swiss Banking.

All About WB21 Business Model!

WB21 is the real time, virtual banking system that has been commenced to alter the way how we do banking today in 21st century. The solutions provided by this online banking system will truly simplify the financial life of everyone. It offers account opening platform and other banking services to business clients and private clients from more than 180 countries, including India.

The system facilitates global cross border payments and account opening and accept currencies of 18 different nations in the world. It has the proprietary software called IRTP which stimulates the fund transferring process of clients and allows the users to transfer funds to other bank account in the world instantly.

The interesting fact of this system is that it charges fewer fees for transferring of funds which is ten times less compared to the traditional banking services. To set up an account with WB21, users hardly need to spend 5 minutes virtually and after completing the real time verification and activation process, they can start sending funds through their account balances, virtual debit cards and accounts.

How WB21 Can Help Indian Business Entities?

India has always been the major banking and financial hub in the world. India is the place where companies used to set up their bank account in a bid to operate in Far East. But, most of the companies are now complaining that it has become more difficult now to open account in Indian banks to trade in Far East.

This is where WB21 comes to rescue those business clients by helping them open virtual accounts in five minutes and start trading in Far East without having to convert currencies. It has become an alternative to all financial and banking issues in India and it is all set to change the game in banking sector of India.

WB21 banking platform offers the Indian business clients and private clients the best alternative and help many offshore companies to open account virtually for which they were once struggling.

The WB21 platform offers the clients with all the services which they had under the current bank account for business. It supports 18 different currencies and hence there is no requirement for currency exchange for doing business or transferring funds to another account in far away land.

Since many offshore companies don’t have the option to move to Far East for doing business, WB21 comes to their rescue by positioning them in the country where they intend to commence business and keeping the banking issues aside.

The accounts with WB21 allow the business clients to trade in more than 200 nations across the world and in close to 20 currencies. The platform keeps on updating regularly to add more features and currencies so that baking services for clients can be enhanced.

About Michael Gastauer!

Michael Gastauer is the renowned and successful German businessman who is considered to be the youngest self-made Billionaire and in very less time he managed to crack deals worth $16 and $480 millions.

With his G550, he loves to travel London, Zurich and New York and he reside in his spacious estate which is adorned with modern masterpieces and wonderful décor. With net worth of $2.1 Billion, he is listed amongst the 100 richest German businesses according to Forbes and Huffington Post.

Becoming the CEO of WB21

Later in 2015 after selling his venture to Malaysian Baking Group, Gastauer returned as venture capitalist and the first investment which he made was about 2 Million Euro Seed Funding of Digital Banking Startup WB21.

Soon after he became the CEO of this venture, he started sharing his views on how the venture can solve its issues that customers are facing while opening the bank account with them.

He again invested around 22 Million Euro in the company and in less than 10 months he managed to attract over one million customers from across the world. This made WB21 a successful venture with over 1.8 million satisfied customers worldwide.

Later in 2016, the business announced its advanced and new fundraising which managed to collect over $200 Million based on $2.2 Billion Valuation. With more than 75% of shareholding, the net worth of Michael Gastauer is estimated around $2.13 Billion.

However, like all other its peer, the portion of his wealth is not in cash, instead it is based on valuation of his shares with the company.

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