Vemanti Group Profile
Vemanti Group, Inc., through its wholly-owned subsidiary, VoiceStep Telecom, LLC (VoiceStep), provides a solution with regard to business-class voice over IP (VoIP) services to its small to medium-sized business customers in the United States.
VoiceStep provides a cloud-based multi-location, multi-user, enterprise-grade communications solution that enables employees to communicate through voice, text, web conferencing, and fax on devices, including smartphones, tablets, PCs, and desk phones. It offers PBX features, such as multiple extensions, call control, Outlook integration, SM, telephony conferencing; fax, auto-receptionist, call logs and rule-based call routing and answering. The company also has the ability to deliver customized voice applications to meet a customer's business requirements. The entire switching infrastructure of VoiceStep is based on next generation softswitch architecture and was engineered in-house from the ground up. This eliminates certain dependency on third-party vendors and, at the same time, allows the company greater technical flexibility and economic scalability. The company offers business-class VoIP products such as cloud phone systems (aka hosted PBX) and domestic/International origination and termination as a cost-saving and profit-increasing solution to multi-location enterprise customers. The company is capable of delivering business-class VoIP solutions in all 50 States, as well as in Canada and other countries where VoIP applications are allowed. VoiceStep's network enables the following technology solutions: unified communications, data center services, content delivery, VoIP and cloud computing. For the next 12 months, the company plans to implement two strategies to sustain the operations of VoiceStep: cost reduction and revenue growth.
eLoan
Until June 16, 2022, the company held an 18.6% interest in Fvndit, which owns eLoan, JSC (eLoan). Fvndit, through its subsidiaries, operates an online short-term P2P financing platform for SMEs in Vietnam. Fvndit's mission is to make borrowing through credit a simpler process for entrepreneurs, thus making investing more rewarding for investors. Its wholly owned subsidiary eLoan, which was launched in 2017, operates an online P2P funding platform that matches investors with entrepreneurs, allowing anyone on the platform to fund short-term working capital directly to SMEs in Vietnam. The company purchased a 20% interest in Fvndit on November 13, 2018. Subsequently, the company's interest in Fvndit became 18.6% due to Fvndit's new stock issuances.
Bitcoin
As of May 26, 2022, the company liquidated its investment in Bitcoin.
M&A Activity
The company intends to look at companies who have products or resources that may help accelerate its business plans for the digital-only banking services with PVcomBank.
Products
The company intends to design and launch a digital-only banking platform for providing products and services to SMEs in Vietnam with back-end integration with PVcomBank. As of December 31, 2022, the company is in the design and testing phase of the platform.
VoiceStep's core products are:
Business-class VOIP cloud phone system (all known as Hosted PBX);
Carrier-class domestic/international origination and termination; and
Essential business communications tools and applications, such as fax, SMS (texting), call conferencing, and call center.
VoiceStep operates in a variety of small to medium business industries. All of the company's customers are on a monthly recurring service plan.
Strategy
The company's strategy is to acquire companies and/or form joint ventures to rapidly expand its growth. The company plans to seek out high-growth opportunities in financial technology (fintech) development with additional business partnerships in Vietnam and other markets in Southeast Asia where adoption of digital financial solutions is often accelerated due to lack of user-friendly and innovative banking services. Strategically and long-term, the company focuses on providing inclusive access to financial services for the underserved consumers and businesses using technologies, including API-based open banking, blockchain, cloud computing, machine learning, and artificial intelligence.
Suppliers
The company depends on four suppliers to deliver the VoIP solutions to it that it then re-sell to small and medium business customers:
Cyxtera Technologies, a data center and colocation vendor from whom the company rents rack space, power, and internet connectivity on a contractual basis to host its servers and networking equipment;
Voyant Communications, a wholesale VoIP communications service provider, who, from their end, terminates the telephone calls for the company's customers, which then allows them to receive incoming calls to telephone numbers in the U.S. and Canada;
ScarletHawk Solutions, D.B.A Voxlinx, a wholesale VoIP communications service provider, who, from their end, terminates telephone calls for the company's customers, which then allows them to receive incoming calls to telephone numbers located in more than 60 countries outside the U.S. and Canada; and
THINQ is a wholesale VoIP communication service provider, who interconnects with multiple carriers across the globe to allow the company's customer to make outgoing calls to any numbers in the U.S. and to other countries.
Marketing and Sales
The company markets its products through third-party sales and marketing services providers. The company changed its business model 9 years ago when Skype, WhatsApp and other similar platforms started to come into the marketplace. Whereas the company originally sold calling card minutes to individuals, it then adjusted and focused more on business customers. The company focused on businesses that already had an internet subscription or connection and could purchase phone lines from the company at discounted rates, rather than other mainstream companies, such as AT&T and Verizon which offered more costly calling card packages. The company offers alternative services that allow businesses to be able to communicate with the outside world, as well as their consumer base.
Customers
For VoiceStep, the company has a customer base which mostly comprises SMEs, such as dentist offices, beauty salons, real estate companies etc., in the United States. The company strives to establish and maintain long-term relationships with its customers. Four of the company's customers account for more than 10% of its total revenue for the year ended December 31, 2022. The company's service is subscription based. Customers initially sign up for services via the company's VoiceStep Business Communications Service Agreement.
The company generates revenues primarily from the sale of its monthly and yearly subscription plans for its cloud-based VoIP services. As its customers' needs change, they often add users to existing services or upgrade to better plans, which provide them with additional features and functionality.
History
Vemanti Group, Inc. was founded in 2014. The company was incorporated in 2014 under the laws of the state of Nevada.
