What was the scope of their involvement?
We started with business analysis, wireframing, and UI/UX design, continuing with the development of the frontend and backend. We worked iteratively, in different sprints, agile. IdeaSoft.io is our development partner in this project. We have some people here in Germany, and most of the engineers are located in Kharkiv, Ukraine.
We’re using Golang and Python on the backend, and React Redux-Saga on the frontend. We’re doing native development on the mobile client, with Swift for iOS and Kotlin for Android. We have some scripts in other languages, but this is our main stack.
We have a microservices architecture for the platform, for different business cases. One of our cases involves blockchain. We’re using a fork of Ethereum called Quorum. It’s a blockchain protocol for ledger technology.
We have functionality for the creation of digital assets. We also have secure digital wallets for transferring assets from one wallet to another, with smart contracts. Then, we have an algorithm for negotiations between borrowers and investors, to find the best-matched portfolios for investment or borrowing. We also have a microservice for portfolio building, for asset managers.
We also have a process management part. It’s similar to project management systems like Jira, but for fintech companies. It allows them to manage groups of people, share documents, and so on. It provides a channel for communication and document exchange. There are a lot of documents to check before making an emission of digital assets, and that’s what the tool is for.
What is the team composition?
We’ve worked with a team of 15–20 people, depending on the project phase.
How did you come to work with IdeaSoft.io?
We’d worked with another startup since 2011, also located in Kharkiv. I was good friends with IdeaSoft.io’s CEO, and we’d worked together on different projects, including one in the medical segment, for secure video streaming.
How much have you invested with them?
Our total expenditure is around €230,000 so far. The ongoing cost will be around €50,000 per month.
What is the status of this engagement?
We started working with IdeaSoft.io three years ago. We started discussions on the latest project in October 2019, the work started in November 2019, and it’s ongoing.