SCF #11
Award Completed

Flora is a marketplace where users can access apps, integrations, transaction templates, and third-party Soroban Smart Contracts.

Budget request:

Project Stage




Based in

Reykjavik, Phillipines and Chile

Team size


Active since

Products & Services

Problem. There are a lot of practical web3 applications that people can use, but adoption could be much higher. One big hurdle for user adoption is access to services, steep learning curves, and complicated user experiences. We want to simplify the user experience and promote the use cases rather than the underlying technology.

Flora makes it easier for users to transact and engage.

We want to make it easy for our users to access a variety of curated services that helps them make use of the Stellar network. Flora gives users access to apps and services for specific use cases, focuses on business, and aims to allow business owners to assemble their value chain much more quickly. These apps include transactions, governance tools, voting modules, invoicing, payment services, and third-party services.

First, we will focus on transactions and transaction templates. Users can set transaction parameters through intuitive wizards and with human-friendly language. Some templates will include legal guidance to help users attach documents as legal proof of their transactions and improve user comfort.

Transaction templates can be described as UI components for Stellar for smart contracts, both Classic Stellar Smart Contracts and transactions and later for Soroban Smart Contracts. Our focus is on business owners and project creators that want to bring their traditional business closer to DeFi and web3.

All users will require a Stellar wallet to keep their assets safe and secure. We will seek a relationship with developers on Stellar for support and the development of more apps and integrations, support growth, and contribute to user adoption on the network.

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Previous Project(s)
SCF #7
Award recipient
Mojoflower - Government issue share-ledgers and share-management tools for SMEs.
Government issue share-ledgers and share-management tools for SMEs powered by Stellar.
Learn more
Progress so far

Milestones summary:

  • $180K Grant from the Icelandic Technological Fund. (Over 2 years)
  • Team expansion: We added two new developers now we are 4 working full time.
  • We switched from Angular to React and have increased developer velocity.
  • Mojoflower was nominated for the Nordic Fintech Award as new entry in September.
  • Have tested different value propositions with potential users. (Market)
  • New design is more fun and engaging.

Traction and activities in current last 6 months.

During last submission:

  • We joined "The Nordic Fast track" accelerator hosted by Copenhagen Fintech in Copenhagen.
  • Product: Mojoflower's first Beta was live on the test net. A user could log in using eID and onboard a company issue shares.  Eighty people signed up for early access with limited exposure.
  • Based on feedback and testing, we decided to redesign the app, which included changing the front-end stack from Angular to React.


  • Mojoflower was selected for funding from by Icelandic Technological fund. This grant is approximately $180K and will be paid based on milestones until march 2024. The funding rate was 22% out of 417 applications.


  • Product: We added two very talented junior developers to the team and started the migration to React.


  • Shortlisted for the Nordic Fintech Awards and become official members of the Copenhagen Fintech.
  • Hired NoticeTheElephant to help with Marketing plan and strategy.
  • DAFNA accelerator program (9 months) - MIT-inspired accelerator by the Icelandic Tech fund. A team of 5 mentors meets with us once or twice monthly plus 2-day workshops.


  • Revamped (React version) Version of Mojoflower ready initial for testing.
  • Marketing strategy for product launch in progress.


  • Public Beta Official Launch and with marketing efforts.
  • Pilot project with the Icelandic IP and Trademark office.
  • Pilot with Kjarninn Independent Media group.

List of features available in the current version:

  • A user can create a Company account - both users and the company gets assigned an address on the Stellar account.
  • A user can log in using a national electronic ID from multiple countries supported by Dokobit.
  • A user can issue ordinary shares and distribute them to shareholders to registered and unregistered users through a seamless process and a happy flow.
  • A user can access Smart Functions - transfer of shares and direct sell offer using e-mail addresses of the recipient.
  • A user can create new entities and manage multiple companies.
  • A user has a dashboard to view various company information, such as shareholder list, board, and management.
  • A company profile is live for the company and shows various company-related information.
  • User settings and random avatar generator is live.
  • Public Profile of company
  • User can create a direct Sell offer (for XLM)
  • User can transfer shares.

Next up line features: More transaction types. KYC processes for Individual accounts." Verified" profiles. Smart transactions with legal writing added. USDc integration using Circle API. EURe Straight to IBAN integration using Monerium. Add shareholders by using .csv files. Portfolio manager/company Logic implementation + admin dashboard VC dashboard. Boutique exchanges. Public Profile enhancements.

  1. 1000 active users on the platform.
  2. 100 companies or projects onboard.
  3. 10 Transaction Templates Live
  4. $10K+ in sales revenue ($100K ARR)
  5. 5+ third-party integrations (min 2x Stellar Ecosystem Partners)
  6. Payment Gateway
To get there, we request a budget of  

Steps we need to take to get there:

  • Launch on mainnet
  • 2 months in Programming polishing product
  • Marketing strategy and planning
  • Legal Due diligence
  • Product legal counseling
  • Security audits
  • Create marketing assets
  • Integration partnerships
Additional information
Pitch deck
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First Deliverable

Mojoflower is a software company founded in 2021 in Iceland, building an ownership platform utilizing blockchain and web3 technology. The platform can be used for various purposes and our goal is to become the go-to platform for ownership, similar to Stripe for payments.


Oli Torfason (Oli Mojoflower#8074))

Co-Founder CEO (Full time)

Oli is a entrepreneur and has started multiple companies. He started and launched Founder SNARK in Iceland,  Acquisition agent Alda Music in Iceland (Acquired by Universal), Kassaleigan Founder (Acquired), AwareGo Security Awareness training multinational sales network (shareholder via Snark). Education background is in business, and he’s married and a father of 3.

Bjorn Halldór Helgason (KurtSwayze#9322)

Co-Founder CPO (Full time)

Björn is a entrepreneur and a creative spirit. He founded Kaktus creative in 2015 and they leading app developers for large pharmaceuticals in Iceland. He’s been working on Mojoflower since 2021.

Þórður Ágústsson (turtle17#6693)

Full stack developer (full time)

Þórður is a full stack developer and blockchain enthusiast. Þórður joined the team in August. Þórður short name is Thor and his spirit animal is Turtle.

Lukas Stateczny (juico#3657)

Front end developer (full time)

Lukas is a front end developer. He lived in Iceland since a teenager but now lives in the Philippines. He enjoys long walks in nature and photography.

Name Enrique Arrieta Sangronis (earrietadev#9365)


Enrique is a blockchain wizkid and enthusiast. He’s the creator of xBullWallet and an avid Stellar Developer. He is also the founder of Creit Tech.

LinkedIn or other social channel:

Hanna Kristín Skaftadottir (NA)

Head of Research

Hanna is Assistant Professor and Program Leader of Business Intelligence at the University of Bifrost. Ph.D. candidate in Accounting Information Systems, specializing in Robotic Process Automation in Auditing with collaboration and insight into academic blockchain research and papers at the Continuous Accounting Research Lab (CARLab), Rutgers University.ín-skaftadóttir/