Wish Finance whitepaper

1. WHITE
PAPERCompany
whitepaper
Wish Finance has figured out how to solve one of the biggest
problems for people that are involved in cryptocurrency -
actually spending the currency."

2. EXECUTIVE SUMMARY
MISSION AND VISION
MARKET OVERVIEW
PAIN POINTS
WISH FINANCE BUSINESS MODEL
GO-TO-MARKET STRATEGY
WISH FINANCE VS COMPETITORS
TEAM AND EXPERIENCE
WISH FINANCE SOFTWARE
LENDING IDEOLOGY AND RISK MANAGEMENT STRATEGY
CONNECTION TO PAYMENT INFRASTRUCTURE
PORTFOLIO TRANSPARENCY ON THE BLOCKCHAIN
INVESTOR RELATIONS AND REPORTING
COST STRUCTURE
FINANCIAL ASSUMPTIONS
ICO STRUCTURE
CRYPTOGRAPHIC AUDIT
ESCROW
ROADMAP
ICO MILESTONES
EXIT STRATEGIES FOR INVESTORS
03.
06.
08.
12.
14.
16.
18.
20.
22.
24.
26.
28.
30.
32.
34.
36.
38.
40.
42.
44.
46.
Tableofcontents

3. EXECU
TIVEExecutive
summary

4. ACROSS THE WORLD,
it is clear to see the importance of small and medium companies within their
national economies.
THEIR GROWTH OVER THE LAST THREE DECADES HAS PROVEN
that these small and medium enterprises will play a huge part in future
economic progress, both in developed and developing countries.
FOR BIG COMPANIES,
SMEs represent the world from which they came and from where their future
competition will come. SMEs are important partners and suppliers to these
larger companies.
FOR INDIVIDUALS,
SMEs often represent their first job, the first step in their career. They are also
a first step to the world of entrepreneurship.
FOR THE ECONOMY AS A WHOLE,
SMEs are launchers of new ideas and processes, accelerating industry growth
with a more effective use of resources.
MERCHANT SMES,
broadly, includes every small supplier and service provider we use in our daily
lives.
IT IS NOT A SECRET:
being a small business owner is a difficult job without any warranties or much
protection.
AND WHEN SMALL ENTREPRENEURS FACE TOUGH TIMES OR SEE AN
OPPORTUNITY TO GROW THEIR BUSINESS,
they often struggle to find the funds that they need.
Banks and other large lenders donʼt like to work with someone that doesnʼt
have big assets.
Grey market lenders ask for huge interest rate.
Gladly, we are living in the 21st century, so you can forget about this struggle!
Wish Finance was created to serve small and medium-sized business owners
and provide fast and smart funds to merchants. We have spent many years
investing in our proprietary scoring technology specially designed to work with
cash flow based businesses without many assets.
04

5. When a small businessman needs a loan, he shares with us his real transaction
history from a POS terminal - it is as easy as clicking a button on our website
or on our mobile app. Our neuronetwork combines this data with:
We use more than 85 different variables in the Wish Finance scoring machine.
In 24 hours, a loan is issued and the card is shipped with a courier. No more
lost opportunities!
Then, each time someone buys from this merchant and pays bycard, 3-5% is
deducted from the transaction to repay the loan. This way, repayments are
made seamless and effortless for SMEs. The more customers a merchant has,
the faster the loan is repaid!
And what about SMEs that face hard times and have to go out of business?
Nothing to worry about - each loan is protected from borrowerʼs bankruptcy
and the remaining part of the loan will be repaid by the insurance company.
Wish Finance is a safe and smart lender for 21st century small business:
Created to serve SMEs and support the local economy.
• market data
• SME industry data
• location
• local economy state
• time of the year
• historical records
• Fast lending process
• Affordable interest rates
• Insured loans
• Seamless repayments
05

6. MISSIO
ANDMission
and Vision
Mission
and Vision

7. 07
WishFinanceʼs mission is the creation and introduction of a straightforward,
transparent and accessible channel for financial inclusion into merchant SME
segments.
MERCHANT SMES IN OUR UNDERSTANDING ARE:
Broadly, the category includes every small supplier and service provider we
use in our daily lives.
It is currently extremely difficult for such SMEs to secure the funding they
need to ensure business continuity. This is typically because they have almost
no assets to use as collateral, and therefore banks and regular lenders are
unable to work with them. Wish Finance has been created to design a credit
scoring system based on cash flow to change this status quo.
IN OUR VISION FOR THE FUTURE, WISH FINANCE IS A GROUP OF
COMPANIES SERVING SMES ACROSS MOST CASHLESS COUNTRIES:
• Convenience stores
• Corner shops
• Cafes
• Restaurants
• Small retailers
• Barbers
• Beauty salons
• Drug stores
• Repair shops
• Ateliers
Wish Finance - current company, alternative lender for SMEs
Wish Finance Fund - new future company, including fund providing
liquidity for Wish Finance
Wish Bank - new future company, specialised bank serving SMEs
Wish Reliance - new future B2B insurance company for the
SME segment
01.
02
.
03.
04.

8. MARKE
OVERVMarket
overview

9. Alternative lending refers to a growing industry of online and mobile-based
lending platforms for different borrowing needs, including consumer, small
and medium enterprise (SME), student loans and mortgages. Within the last 10
years, this industry has emerged to become the subject of much discussion
and speculation due to the technological innovations it employs to simplify
and expand consumer access to capital; its stance on regulation; and the
potential threat it presents to traditional financial institutions.
Alternative lending platforms provide an end-to-end loan experience through
digital delivery, from application and origination to underwriting and servicing.
Alternative lenders perform the credit underwriting process and approve or
decline a loan application based on the borrowerʼs risk score in near-real time,
relying heavily on proprietary algorithms and the collection of different
sources of data directly from the borrower or third parties. The efficiency,
scalability, reduced cost and digital capabilities provide clear differentiators to
consumers when compared to a traditional bank, which can take many weeks
to process a loan application.
The alternative lending ecosystem is defined by a large variety of entities and
participants, each of them playing a distinct role to connect borrowers and
investors. This concept is essential to understand the industryʼs evolution and
outlook, as innovations are emerging:
• Direct lending platforms with lending license, lend out of their books
• Credit Scoring - High in-house quality control of credit and disbursment
• Operational Metrics - higher spread and superior return metrics
• Tie-ups with a single lender for loan origination
• Credit Scoring - Dependent on approval fron single lender
• Default Risk - Lies with single lender and platform bears risk
of losing the relationship (or source of loans)
• Tie-ups with non-accredited lenders for loan originaDon
• Credit Scoring - Done in-house for lenders
• Default Risk - Lies with lenders
• Tie-ups with multiple lenders for loan origination
• Credit Scoring - Dependent on approval from various lenders
• Default Risk - Typically spread across multiple lenders
ON-BOOK LENDING
PEER TO PEER LENDING
SINGLE LENDER LOAN ORIGINATION
MULTIPLE LENDER MARKETPLACE
09

10. Alternative lenders can be broadly segmented across two different
dimensions, borrowers served and funding model:
Borrowers served:
Funding model:
• SMEs: Lenders like OnDeck, Funding Circle, Kabbage or Wish Finance
position themselves primarily to serve SMEs, providing borrowers with
the liquidity necessary to purchase inventory, expand the business or
even refinance debt.
• Individuals: These are alternative lenders focused on specific products
for the individual, mainly consumer loans (Lending Club, Prosper and
Avant) and student loans (SoFi and CommonBond), with a growing offer
on mortgages, and further diversifying their offerings to serve their
customers holistically.
• Marketplace lenders seek to transfer the risk of holding the loans from
one party to another.
• Balance sheet lenders bear the risk of holding the loans on their own
books, though for a limited period of time, reducing exposure.
Throughout this paper, the terms marketplace lenders and balance sheet
lenders - different types of alternative lender - will not be used
synonymously, as their differences will be discussed.
HOW HAS THE MARKET GROWN?
10
EUROPE AND CENTRAL ASIA
EAST ASIA AND PACIFIC
MIDDLE EAST AND NORTH AFRICA
SOUTH ASIA
SUB-SAHARIAN AFRICA
LATIN AMERICA AND THE CARIBBEAN
NUMBERS OF MSMES (MILLIONS) CREDIT GAP: UNSERVED & UNDERSERVED (PERCENT)
Total MSMEs
(Formal &
informal)
> 70 50-60 < 40
60-70 40-50 no data
With
Checking
Account
With
Loan/
Overdraft
Unserved +
Underserved
52
21
9 3
10
20 12 6 10 188
62
23
92
78
34
11
36
40
18
4
22
25
13
27

11. Through a targeted approach of serving the underserved market, alternative
lenders have been able to gain a foothold in the lending market. However, in
order to continue their high growth rate, they will need to differentiate
themselves in multiple ways, including:
Continue to simplify the experience by making it faster and easier
for borrowers to access capital
The digital infrastructure that is already facilitating the onboarding process for
consumers and SMEs can also be designed to reduce critical pain points in the
loan processes for new products, such as mortgages or car loans.
Qualify more underserved individuals and businesses using big
data and analytics on prospect data
Many underserved segments are currently targeted, but there remain many
others that have not been addressed by traditional financial institutions or
alternative lenders. The length of credit or employment history are some of the
limitations set in place even by alternative lenders to their clients, leaving young
individuals or recent immigrants out of the target population.
Offer competitive pricing while remaining profitable by lowering
funding costs
Firms in the consumer lending space have effectively reduced operating ratios to
2% compared to a traditional bankʼs 5-7%. This allows them to offer competitive
rates; however, the nature of marketplace lending makes it impossible for these
firms to access cheap deposit funds. To lower funding costs meaningfully these
firms need to expand their sources of funding by making the asset class
accessible through wirehouses and financial advisors.
Gain access to larger groups of clients, supported by a holistic
financial offering through partnerships
Partnerships with traditional financial institutions have taken place, initially to
secure banks as investors, and now with a growing number of firms looking to
enhance their lending capabilities. This will likely expand to other types of firms,
even outside of the financial services space.
11
01.
02.
03.
04.

12. PAIN
POINTSPain
points
Pain
points

13. Five years of extensive experience of providing alternative marketplace
lending firms in the US and UK with funds and understanding market demand
has made it possible to create Wish Finance. Founded in 2016, the
organisation addresses the major pain points for borrower SMEs, with Wish
Finance as lender.
PAIN POINT: ITʼS NOT EASY FOR SMES TO
SECURE A LOAN
Wish Finance provides fast customer onboarding via
the companyʼs website and mobile application. The
process in its entirety takes up to 20 minutes,
including uploading photos of company certificates
and documents. Decisions are made within 24 hours
of application time, a Visa business card is delivered
by courier to the borrower (in Singapore and Hong
Kong only), and the loan is instantly available. Payment
schedules and account information are accessible
24/7 via the website and mobile app.
PAIN POINT: BUSINESS LOAN
UNDERWRITING TAKES 1-2 WEEKS
All processes at Wish Finance are optimised
and most of them automated, so processing
the documents from SMEs, scoring,
underwriting and finally transferring the loan
takes no more than 24 hours from
application received.
PAIN POINT: SME LOANS FROM BANKS
ARE EXPENSIVE
Thanks to these efficiencies Wish Finance can lend
money to merchant SMEs more cheaply than most
banks. The typical interest rate is a rate of 11-28%
p.a., or just 1-2.5% a month.
PAIN POINT: MERCHANT SMES CANʼT BE
SCORED BY TRADITIONAL LENDERS
Due to the focus on merchants, Wish Financeʼs
scoring and financial products are not based on assets
and securities as they are for traditional lending
institutions. Instead, Wish Finance acquires
transaction data from POS providers servicing the
borrower SME. Using the Wish Finance API we can
connect directly to real-time transaction information
and are able to score the merchant based on their
cash flow.
PAIN POINT: IT IS DIFFICULT TO
CONTROL DEBT COLLECTION
FROM SMES
To make payments effortless for the
borrower and lower the loan risk, every
borrower gives consent to their POS
provider to deduct 2-5% of every
incoming payment from their customers
at the moment of application. Loans are
therefore repaid with every transaction
and every sale made by the borrower.
The system is simple, safe and
transparent.
PAIN POINT: AN SME MAY GO
BANKRUPT
Life can be tough sometimes. We at Wish
Finance understand this. That is why every
loan is insured against the borrower going
bankrupt by our partner insurance company,
with whom we share revenues.
13

14. WISH
FINANCWish Finance
business model

15. As short-term lender, Wish Finance provides merchant cash advances and
business loans. It offers terms of 3-36 months, and SMEs can borrow as little
as S$5,000 or as much as $100,000. A loan from Wish Finance costs less than
a traditional merchant cash advance.
TO QUALIFY FOR A WISH FINANCE LOAN, THE SME COMPANY MUST:
Wish Finance is an off-balance-sheet lender. This means we are not a
marketplace. Wish Finance attracts funding from hedge funds and other
financial institutions and uses this to provide loans to SMEs.
Our first USP (unique selling point) is software that evaluates hundreds of loan
applications within minutes based on analysis of data, including real-time POS
transactions, cash flow, past loan status, and vendor payment history.
Our second USP is direct access to POS transactions. Every time customers
pay our borrowers for goods or services using their POS terminal we deduct
2-5% to cover the loan. Itʼs less risky for us and effortless for the borrower.
Our third USP is the insurance protection from bankruptcy we provide for each
SME. Insurance repayments are covered within the loan.
IN SUMMARY:
• Have 12 months of transaction history.
• Be generating over $100,000 in annual revenues.
• Be located in Singapore or Hong Kong.
• Be connected to a POS terminal from which we are
able to gain transaction data.
• Wish Finance attracts money from hedge funds and financial
institutions for a fixed low interest rate.
• Wish Finance provides loans to SMEs based on real financial data.
• Every payment through POS repays the borrowerʼs loan.
• Borrower is insured against bankruptcy.
• Wish Finance shares revenues with POS data provider and insurer.
15

16. Go-to-market
strategy
Go-to-market
strategy

17. Because our scoring and business model is strongly reliant on real financial
transaction data and access to POS payments to make the default rate as low
as possible, our go-to-market strategy is straightforward and transparent. To
start doing business in a new market Wish Finance will:
WISH FINANCE IS THEN READY TO LEND ON A NEW MARKET.
The larger the POS vendor, the more loans Wish Finance can start issuing
from the very beginning. Our marketing team will do the rest.
Find the POS data vendor within the market.
Establish an insurer for our SME bankruptcy protection program.
Set up a local company, fully controlled by our Singapore HQ.
Sign partnership agreements with both POS vendor and insurer.
Connect to POS data using our APIs.
If regulation requires (not for Singapore and Hong Kong), gain all proper
licenses for a non-bank business lender.
01.
03.
05.
02
.
04
.
06.
17

18. WISH
FINANCWish Finance
vs Competitors

19. Wish Financeʼs business model is balance-sheet lending to merchant SMEs
with cashless turnover. This means we can lend to any small business where
customers pay with credit cards, Apple Pay, Android Pay or any modern form
of payment.
Our loans vary from $1,000 to $100,000 with terms of 3-36 months and an
interest rate of 24% APR. The approval time is 24 hours for every loan, and we
require no personal guarantee.
Here is what we know about some of our major competitors around the world.
LOAN AMOUNT
ONDECK CAPITAL KABBAGE PAYPAL WC
$5 000 - $500 000 $2 000 - $100 000 $1 000 - $85 000
TERMS 3 - 36 MONTHS 1 - 12 MONTHS
NO FIXED MATURITY DATE, BUT
TYPICALLY TAKES 1-18 MONTHS
EXPECTED APR RANGE 30 - 50 % 40 - 80 % 15 - 30 %
APPROVAL TIME SAME DAY SAME DAY SAME DAY
CREDIT SCORE 500+ 550+ NO MINIMUM
HOW MUCH
WILL THEY SEND?
15% OF ANNUAL
REVENUES
VARIES 4-15% OF ANNUAL
PAYPAL REVENUES
PERSONAL GUARANTEE YES
WWW.ONDECK.COM
YES
WWW.KABBAGE.COM
NO
WWW.PAYPAL.COM
19

20. Team and
experience

21. Eugene is an entrepreneur and angel investor with
more than 15 years of experience in data science, e-
commerce, consulting and financial technologies. He
has been the founder of three startups since 2000, all
of which he successfully sold. His consulting clients
over the last 10 years have included Aliexpress,
Friendster, Zalora, Lazada, The Pizza Company, EFES,
Wrigley's, Heineken, Dominoʼs Pizza, PepsiCo and
IKEA. More recently, Eugene has directed his efforts
towards fintech, financial inclusion, blockchain, new
SME scoring technologies and open banking.
Ruslan has over 15 years of experience in Banking IT.
Previously, he was involved in support and
development for numerous IT projects. He worked as
a teamer lead and tech lead in international payment
services and banks. Ruslan knows how financial
technologies should be built, how stable and secure
infrastructure should be, and how to deliver products
and provide a predictable service.
Michael is a lawyer and advocate from Israel.
As a lawyer he has specialised in M&A and deal
structuring in the financial, healthcare,
commodities and telecommunications
industries. Recent experience includes project
management and launch expansion
management in Israel and the Asia-Pacific
region. Since receiving an MBA from INSEAD
(2015) Michael has obtained extensive
experience as a financial and anti-crisis
manager in Singapore.
Eugene Green
FOUNDER
AND CHIEF EXECUTIVE
OFFICER
Michael Elgort
CHIEF COMPLIANCE
OFFICER
21
Ruslan Gavinov
CHIEF
TECHNOLOGY
OFFICER

22. WISH
FINANCWish Finance
software

23. As a financial and technological company we invest heavily in our software to
maintain a high level of security, data integrity and business scalability.
Wish Finance is built on microservices. As a high-level overview our system
can be divided into a number of subsystems:
Utility layer
Consists of our hardware servers where we host other subsystems, including
website and mobile applications and analytical software for real-time
monitoring of security and performance. Server-side built on Python, client-
side built on PHP+HTML5+JS.
Scoring and monitoring layer
This is where we transfer all collected and stored data to make decisions.
Nothing is stored in this layer for the long term: it is the brain of Wish Finance,
but not its memory. This layer is mostly built in Python.
API layer
Communication layer servicing all transactions between different elements of
the Wish Finance IT infrastructure, including mobile apps and partners - POS
vendors, data providers and insurers. Built in JSON.
Data layer
Wish Finance stores all sensitive data in a PCI-DSS compliant cloud from
Amazon Web Services. We use PostgreSQL for transaction processing plus
general needs. Currently experimenting with Amazonʼs Redshift for analytics.
Blockchain layer
One of the main advantages we see in the blockchain is transparency of the
business for employees, customers, investors, governments and the general
public. Wish Finance is getting ready to publish the performance of its entire
loan portfolio on the Ethereum blockchain.
This means it will be possible to see the loans Wish Finance has issued and
how every loan is performing. However, nobody will be able see the identity of
the borrower or the nature of the business. We are transparent as a business,
but responsible for the data we have.
23

24. Lending
ideology
and risk
management

25. ALTERNATIVE LENDING CAN BE RISKY. WISH FINANCEʼS MODEL MINIMISES
THE POTENTIAL RISK OF BORROWERS DEFAULTING ON THE LOANS WE
ISSUE:
TOGETHER WITH OUR RISK MANAGEMENT STRATEGY, OUR LENDING
IDEOLOGY RESTS ON A FEW SIMPLE IDEAS:
• We lend only to established SMEs with at least 12 months of transaction
history
• We lend only to SMEs connected to one of our partnersʼ POS providers
• We have a built scoring system with machine learning technology to be
more efficient at utilising every loan and piece of data
• We deduct 3-5% of each payment customers make to our borrower to
provide us with greater security, and the borrower with a seamless
repayment experience
• We insure each borrower against going bankrupt for the full amount of
loan we have provided
The more data we have to make lending decisions,
the better
We currently use one main data stream: corporate data about the
company and its owners/directors, open market data about the
industry and economic landscape of the country, and real
transaction data.
We do not lend more than the borrower can afford to
return without harm to their business
We help SMEs to grow, we educate our borrowers on how to use
their cash advances and we advocate business loans as financial
tools to make businesses more effective.
We secure our own business by diversifying our loans
portfolio across different countries, industries and
types of borrowers
Every country and every economy has its ups and downs. The more
diversified a portfolio we can build, the more stable and effective a
business we can maintain for our shareholders.
25

26. CONNE
TO PAYConnection
to payment
infrastructure

27. Wish Finance connects to payment infrastructure providers via its own API
layer. We do this to ensure there are as few as possible critical functions for
secure lending and a seamless repayment experience for borrowers.
USING THE APIS CONNECTED TO THE ACQUIRERʼS IT SYSTEM, WISH
FINANCE CAN:
Our APIs are RESTful and based on JSON. All communications between our IT
system and acquirers take place within a secured VPN and cannot be
accessed from the outside. Data is stored in the Amazon Web Services PCI-
DSS certified Cloud. Data security is our highest priority.
Get consent from potential borrower to share transaction history for scoring.
Get data from acquirer and upload it to Wish Finance scoring layer.
Open new account for borrower inside acquirer’s ecosystem.
Fund this new account with the loan.
Issue a new Visa/MasterCard card connected to this account.
Set up limitations for how this funding can be spent (based on what the borrower
stated in their loan application).
Set up a rule to deduct 3-5% of each payment at borrower’s POS.
Get daily transactions from acquirer.
01.
02.
06.
03.
07.
04.
08.
09.
27

28. Portfolio
transparency
on the
blockchain

29. Wish Finance plans to be the first ever alternative lending company to record
the whole loan portfolio on the Ethereum blockchain.
Currently our solution is under development. What we plan to do is:
Every time we issue a loan, the borrower is insured by Wish Finance for the full
amount of loan provided, plus our calculated earnings from this loan. An
insured event occurs when (though obviously we prefer if) the borrower is
unable to repay the loan by 90 days after the last payment date.
The borrower is a store owner
and has to repay S$10,000 by
1 August. Every sale he makes
using his POS terminal repays
part of the loan.
At any time borrower is able
to repay the loan by sending
money to his credit account
via Wire Transfer or using
his Visa card at an ATM.
If, by 1 August, the borrower
still has part of his loan
outstanding (for example,
S$3,000), Wish Finance
starts counting 90 days.
Throughout these 90 days, sales
at the borrowerʼs POS terminal
count as normal loan
repayments.
If, after the 90 days, the borrower is still in arrears (for
example, S$1,000), Wish Finance understands this as loan
default and receives money from the insurance company -
specifically the last S$1,000, not the full S$10,000.
All the time we can see how this borrower is performing on his loan repayments and are showing the
same information to the borrower in his profile at our website and mobile application.
This will make Wish Finance fully transparent for government agencies, borrowers, partners, current
shareholders and potential investors.
LOAN DEFAULT INSURANCE
FOR EXAMPLE:
• Publish the whole history of issued loans (inсluding currently active, paid-
up and defaulted) on the Ethereum blockchain.
• Publish the whole history of currently active loansʼ performance and
transactions on the Tendermint blockchain.
• A block will never contain any personal or commercial data connected to
any borrower or borrowerʼs customers.
• A block will contain dates, payment methods, repayment amounts, and
the amount still outstanding.
29
01 02 03
0405

30. INVEST
RELATIInvestors
relations and
reporting

31. Wish Finance is currently setting up their investor relations strategy, including:
Every holder of the Wish Finance token is able to convert it into company
shares, in this way becoming a shareholder and also giving them access
shareholder reports.
In addition to our reports for shareholders, Wish Finance will publish separate
monthly reports for token holders to share our progress on milestone
achievements according the roadmap we are sharing at ICO. These reports
will include:
Reports content and structure are subject to changes. At any time current
shareholders, token holders or interested investors are able to contact Wish
Finance via investors@wishfinance.com
• Monthly newsletter for every shareholder and potential investors.
• Monthly report for every shareholder.
• Bi-annual webcast with CEO for current shareholders.
• Annual public press release on companyʼs performance.
• Annual corporate audit report for every shareholder.
• Milestones achieved
• Costs for time frame
• Costs structure
• Loan portfolio (after First loan milestone)
• Portfolio performance (after First loan milestone)
31

32. Costs structureCosts structure

33. Wish Finance is the technology company and the biggest cost for us is salaries
for developers. Our current monthly burn rate is S$100k in Singapore HQ
including:
SALARIES
50%
PROFESSIONAL SERVICES
(ACCOUNTING, AUDIT, LAWYERS, ETC)
TECH COSTS
(SERVERS, LICENSES, ETC)
GROWTH (MARKETING,
SALES, EVENTS, ETC)
33
5%
20%
10%
ADMINISTRATIVE COSTS
(RENTS, СONSUMABLES, ETC)
15%

34. FINANC
ASSUMFinancial
assumptions

35. On average Wish Finance features:
3% P.A. PAYMENTS TO ACQUIRING
PARTNER (POS DATA VENDOR
AND PROCESSING)
4% P.A. PAYMENTS
TO INSURANCE PARTNER
8% P.A. PAYMENTS
TO LIQUIDITY PROVIDER
9% P.A. AS
WISH FINANCE MARGIN
35
3%
4%
8%
9%
INTEREST RATE OF 24%
PER ANNUM FOR BORROWERS
24%
Exact percentages may
vary slightly on a partner-
by-partner basis.
We intend to issue our first loan
in December 2017.
Within 6 months of this we plan
to build an active loan portfolio
of S$2,000,000 in Singapore
alone, where the average
active loan will be around
S$5,000.
In January 2018 we intend to
expand to Hong Kong and
issue our first loan in
February 2018.
In 6 months we expect to build
an active loan portfolio of
H$10,000,000 in Hong Kong
alone, where the average
active loan will be around
H$30,000.
In March 2018 we plan to set
up the Wish Finance Fund, a
separate company to supply
Wish Finance with lending
liquidity, and collect
US$20,000,000 at ICO.
By the end of 2018 we plan to
have built an active loan
portfolio of S$10,000,000 in
Singapore and Hong Kong
combined.

36. ICO
structure

37. Wish Finance ICO details overview:
37
Payout structureWhat does this token
represent?
A smart contract lets token owners
convert WISH tokens to company shares
in correlation 1 to 1. Conversion could be
made at any time at the initiative of token
owner after KYC. Converted tokens
intuitively will have its share of company
profits as dividends.
WISH tokens executed by an
Ethereum could be at any time
converted to stocks of Wish
Finance company registered in
Singapore. One token could be
converted to one stock.
Tokens not sold during the ICO
will be burnt. Wish Finance will
never trade or own its own
tokens.
TOKEN NAME:
TOTAL SUPPLY: PRICE PER TOKEN:
ICO DURATION:
WISH
10,000,000 tokens US$1
October 2nd 2017 - October 30th 2017
OPERATIONS
IN SINGAPORE
OPERATIONS
IN BENELUX
OPERATIONS
IN HONG KONG
OPERATIONS
IN SCANDINAVIA
OPERATIONS
IN SOUTH KOREA
LENDING
PORTFOLIO
7% 5%
8% 10%
5% 65%

38. CRYPT
AUDITCryptographic
audit

39. A standard practice of smart contract projects today is the Cryptographic
Audit, a set of monitoring tools that allows any member of the public to easily
validate the contract - in the case of Wish Finance the loans history, portfolio
balances and performance. We are building our CA tools to maintain high
security standards for money flow in blockchain projects. This is how we will
achieve our transparency goals:
PROOF OF RESERVES
We will give preference to exchanges that have implemented Proof of Solvency
(PoS) measures; cold storage reserves can be audited, as is the case with
TaaS, Poloniex and Kraken.
PORTFOLIO REPORTING
Wish Finance will store information about the whole portfolio and its
performance on the blockchain, with all personal data anonymised. Our
transparency policy will help the borrowers, funds, current and potential
investors in many ways, including the predictability and accountability of their
investments.
REGULAR BLOCKCHAIN SNAPSHOTS
To have proof that nobody mismanaged data between audits, a special smart
contract will be developed to hold permanent daily snapshots of audit data. The
contract will be supplied with a convenient contract explorer.
CHIEF BLOCKCHAIN OFFICER
Wish Finance plans to have a new C-level position in the world of finances -
Chief Blockchain Officer - who will be responsible for auditing and reporting our
own use of blockchain technologies and push forward general financial
technologies to clear and effective future.
01.
02
.
03.
04.
39

40. Escrow

41. As a start-up founded with the goal of building a fair and transparent financial
world, Wish Finance has decided to implement escrow to add an extra layer of
protection for our ICO buyers.
An escrow provides a degree of assurance to ICO buyers that their funds will
be used for the stated purposes. The escrow holds the funds until Wish
Financeʼs development is complete and our promised product (SME loans)
goes public - that is, when we start issuing loans to SMEs in Singapore and
Hong Kong. Until then the funds collected at ICO will be disbursed to Wish
Finance in small amounts every time we hit a new milestone according the
roadmap presented in the whitepaper.
Escrow agents with digital keys (escrow signatories) needed to make a
transfer from the ICO wallet to Wish Finance corporate banking account in
Singapore will be:
• Eugene Green, Founder and CEO of Wish Finance
• Alexander Rugaev, CEO of ICOPromo
• <A third escrow agent will be added not later than one week before the
ICO launches>
41

42. ROADM
Roadmap

43. 43 February
October
July
April
October
July
November
ASEAN markets
research
Server software,
scoring and API
layer ready
Whitepaper
publication
Concept
development
Initial coin
offering
Company set up
in Singapore
Connection to POS
in Singapore and
Hong Kong
2016
September
Minimum Viable
Product (MVP)
ready
20162016
2017
December
First loans issued in
Singapore
2017
2016
2017
February
First loans issued in
Hong Kong
2018
2016
February
Pilot SME lending
success with 0%
default rate
2017
2017
Later
Lending for online
SMEs, Wish Fund,
Wish Bank, Wish
Insurance
2018-2019

44. ICO Milestones

45. • Finish Wish Finance lending software
• Connect to acquiring partner, insurance partner and funding providers in
Singapore
• Establish internal lending fund for Singapore
• Start issuing loans for SMEs in the end of 2017
• Connect to acquiring partner, insurance partner and funding providers in
Hong Kong
• Establish internal lending fund for Hong Kong
• Start issuing loans for SMEs in February 2018
• Connect to acquiring partner, insurance partner and funding providers in
South Korea
• Establish internal lending fund for South Korea
• Start issuing loans for SMEs Late 2018
• Connect to acquiring partner, insurance partner and funding providers in
Benelux (Belgium, the Netherlands, and Luxembourg)
• Establish internal lending fund for Benelux
• Start issuing loans for SMEs Early 2019
• Connect to acquiring partner, insurance partner and funding providers in
Scandinavia (Denmark, Norway, and Sweden)
• Establish internal lending fund for Scandinavia
• Start issuing loans for SMEs Late 2019
• Start issuing loans for online merchants
• Start issuing loans for online SMEs in 2018
IF THE ICO COLLECTS US$8,000,000 WE WILL ADDITIONALLY BE ABLE TO
CREATE WISH BANK - BANK SPECIALISING IN SERVING SMES.
IF THE ICO COLLECTS US$10,000,000 WE WILL ADDITIONALLY BE ABLE
TO CREATE WISH RELIANCE - B2B INSURANCE COMPANY FOR SMES.
45
WISH FINANCE’S MINIMUM GOAL FOR ICO IS US$1,000,000. WITH THIS
AMOUNT WE WILL BE ABLE TO:
IF THE ICO COLLECTS US$2,000,000 WE WILL ADDITIONALLY BE ABLE TO:
IF THE ICO COLLECTS US$3,000,000 WE WILL ADDITIONALLY BE ABLE TO:
IF THE ICO COLLECTS US$4,000,000 WE WILL ADDITIONALLY BE ABLE TO:
IF THE ICO COLLECTS US$5,000,000 WE WILL ADDITIONALLY BE ABLE TO:
IF THE ICO COLLECTS US$6,000,000 WE WILL ADDITIONALLY BE ABLE TO:

46. EXIT
STRATExit strategies
for investors

47. Every participant of Wish Finance’s ICO will be the owner of WISH tokens (as
described above) and may choose any of these suggested exit strategies:
Convert WISH to Wish Finance shares and remain
a strategic shareholder
Tokens can be converted at any time to shares in Wish Finance. Singapore has
a clear and stable legal system, protecting every shareholder, including minority
shareholders. All the ICO token holders will be shareholders of the Wishfin BVI
Partners, a BVI entity who holds equity of the Singaporean company that owns
all the software and intellectual property and that runs the alternative lending
business. Staying a strategic shareholder means holding shares, receiving
dividends and being able to sell shares when and if Wish Finance goes public.
Convert WISH to Wish Finance shares and sell shares
As above, token holders may convert their tokens to shares in Wish Finance.
Before the company goes public, every shareholder is still able to sell their
shares to Wish Finance’s management and/or other existing shareholders. This
requires consent from the company’s board after KYC (Know Your Customer)
processes with the buyer, to ensure compliance with AML legislation in
Singapore.
Exchange WISH to other tokens
WISH tokens will be issued on the Ethereum platform and can be traded on
supporting exchanges at any time.
Sell WISH back to Wish Finance
Starting in January 2019 Wish Finance will buy back WISH tokens every quarter
at the current market price. Every token holder will be able to sell their tokens
back to Wish Finance.
47