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Every great idea starts with a problem and more importantly a willingness to find a solution to that problem.
Did you know that 1 of 5 people are familiar with that sinking, anxiety-inducing feeling of losing a wallet, especially when it holds credit cards, identity documents and a decent sum of money.
Volterman was founded with a rebellious idea of creating a smart wallet - a wallet that you can never lose.
Back in 2014, after a brief episode of losing his wallet, the founder of Volterman a young and passionate engineer Azat Tovmasyan decided that, in the 21st century there is no way this depressingly common problem could be left without a solution.
After conducting some industry research, and realizing that smart wallets could only be tracked within 20 meters of their location, it became evident that there needed to be a change in the concept of what a smart wallet actually is.
This realization resulted in the formation of a highly enthusiastic team of young professionals, who would spend many sleepless nights filled with brainstorming, designing, testing, only to do it all over again.
After numerous tests, trials and failures the first prototype of Volterman finally came into the world in 2016. It was packed with so many great functionalities one could never think to find in a single device. A wallet with a wireless charger for smartphones that can be tracked around the world, has a camera, alarm system and built-in memory card. It also had an in-built SIM card which served as a Wi-Fi hotspot anywhere on the planet.
After creating the concept of the first and one of a kind smart wallet Azat and his team were determined to bring this innovation to the world. In June 2017 Volterman was launched on Indiegogo crowdfunding platform, aiming to raise funds for mass production.
The success was mind-blowing. In just a few months the project was backed by 19,081 backers and raised $2,950,707.
It is when the first mass production of Volterman wallets was launched, we realized not everything was so perfect. With the growing demand and increasing volume the company started to face challenges with the supply chain management. Moreover, without prior experience in mass production Volterman faced numerous issues with hardware quality, resulting in defective item returns and production recalls. Another major challenge was the software, considering the smart wallet had to work with various operational systems around the world.
The situation got worse with an increasing number of backers complaining about the product they never received. We were doing our best to fulfill the orders, and by the end of the year we were able to ship the majority of outstanding orders. This year the company also went through major restructuring. We completely rebuilt our logistics chain and worked hard on reorganizing our internal workforce, which brought up some more challenges, but was a wise decision in the long run. The Indiegogo campaign was closed in July 2019. The Volterman official website was launched in September 2019 allowing customers to place a pre-order for the smart wallets that were in high demand.
Challenges hit the company with a new force in 2020, with the global COVID-19 pandemic and closed borders across the world.
Volterman was struggling to fulfill the pre-orders from Indiegogo, while fighting for its brand image and reputation.
The new year comes with new beginnings. With the majority of production issues being resolved the company is more than ready to conquer the world. Our creative team is always looking out for developing outstanding products that would make a difference.
2021 will certainly be the rebirth of Volterman with many new product launches and quality improvements.
But first things first, the top priority for Volterman is to ship out all the pending orders to people who trusted and supported our brand from the very beginning.
Our commitment to backers is to make sure that each and every one gets his own Volterman - the smartest wallet in the world.