About Owny

Owny provides a secure payment platform for used vehicle transactions by utilizing a segregated bank account to protect funds until ownership transfer is completed. This system eliminates the risk of fraud for both buyers and sellers, ensuring that funds are only released after thorough document verification and successful transfer of ownership.

<problem> Private sales of used vehicles carry a significant risk of fraud, with either the buyer paying for a vehicle that is never delivered or the seller relinquishing the vehicle without receiving payment. Traditional payment methods often fail to provide adequate security for both parties involved in the transaction. </problem> <solution> Owny provides a secure platform designed to protect both buyers and sellers during private used vehicle transactions. The platform functions as a trusted intermediary, holding the buyer's funds in a segregated bank account until the vehicle ownership transfer is verified. This process ensures that the seller receives payment promptly after the transfer is complete and that the buyer's funds are protected should the sale not proceed as agreed. Owny conducts document verification to ensure the legitimacy of the transaction before releasing funds, thereby mitigating the risk of fraudulent activities. </solution> <features> - Secure holding of funds in a segregated account, inaccessible to third-party creditors - Verification of vehicle ownership transfer documents - Buyer and seller registration and vehicle listing/confirmation process - Flexible fee structure, with options for buyer, seller, or shared payment - Support for cars, motorcycles, campers, and trucks registered in Italy - Customer support via online form </features> <target_audience> Owny targets individuals and businesses engaged in private sales of used vehicles, including cars, motorcycles, and commercial vehicles, who seek a secure and transparent payment process. </target_audience> <revenue_model> Owny charges a fee for each transaction, calculated as a base amount of €50 plus 0.8% of the vehicle's sale price, which can be paid by the buyer, the seller, or split between them. </revenue_model>

What does Owny do?

Where is Owny located?

Owny is based in Lugano, Switzerland.

When was Owny founded?

Owny was founded in 2022.

Who founded Owny?

Owny was founded by Giacomo Raimondi.

Giacomo Raimondi - CEO/Founder

Location

Lugano, Switzerland

Founded

2022

Employees

4 employees

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Owny

Score: 37/100

AI-Generated Company Overview (experimental) – could contain errors

Executive Summary

owny.it 300+

Founded 2022 – Lugano, Switzerland

Funding

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Team (<5)

Giacomo Raimondi

CEO/Founder

Company Description

Problem

Private sales of used vehicles carry a significant risk of fraud, with either the buyer paying for a vehicle that is never delivered or the seller relinquishing the vehicle without receiving payment. Traditional payment methods often fail to provide adequate security for both parties involved in the transaction.

Solution

Owny provides a secure platform designed to protect both buyers and sellers during private used vehicle transactions. The platform functions as a trusted intermediary, holding the buyer's funds in a segregated bank account until the vehicle ownership transfer is verified. This process ensures that the seller receives payment promptly after the transfer is complete and that the buyer's funds are protected should the sale not proceed as agreed. Owny conducts document verification to ensure the legitimacy of the transaction before releasing funds, thereby mitigating the risk of fraudulent activities.

Features

Secure holding of funds in a segregated account, inaccessible to third-party creditors

Verification of vehicle ownership transfer documents

Buyer and seller registration and vehicle listing/confirmation process

Flexible fee structure, with options for buyer, seller, or shared payment

Support for cars, motorcycles, campers, and trucks registered in Italy

Customer support via online form

Target Audience

Owny targets individuals and businesses engaged in private sales of used vehicles, including cars, motorcycles, and commercial vehicles, who seek a secure and transparent payment process.

Revenue Model

Owny charges a fee for each transaction, calculated as a base amount of €50 plus 0.8% of the vehicle's sale price, which can be paid by the buyer, the seller, or split between them.