Proof of Usefulness Report

epap

Analysis completed on 1/20/2026

+31
Proof of Usefulness Score
You're In Business

The project 'epap' was a legitimate German fintech startup founded in 2020 that offered receipt management and budgeting features. However, verified external data indicates the company filed for insolvency in November 2023 after a failed acquisition. While the technology (ML-based receipt scanning) and initial traction (~50k downloads, retail partnerships) were promising, the project appears to be currently inactive or failed. Furthermore, the submission contains highly inaccurate claims (e.g., 'most people have used my product') and stale data (description dated 2020), resulting in a heavily penalized score.

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Score Breakdown

Real World Utility+15.0
Audience Reach Impact+1.0
Technical Innovation+9.75
Evidence Of Traction+2.5
Market Timing Relevance+3.0
Functional Completeness+0.25
Subtotal+31.5
Usefulness Multiplierx0.98
Final Score+31

Project Details

Project URL
epap.app
Description
epap is a mobile app that connects brick and mortar retailers and users by offering them added value.\n\nFor customers, epap is a central hub for all kinds of receipts. epap automatically keeps track of the customer's personal finances based on receipts, visualising the monthly expenses. In contrast to existing solutions for personal finance, epap analyses receipts on a deeper level recognising every product.\n\nFor retailers, epap offers a solution that allows retailers to save money, increase efficiency at the POS, and increase revenue.\n\nepap is the first app that integrates third party solutions for digital receipts in our app. Furthermore, epap offers the best receipt recognition in Germany (custom entity extraction of receipts based on a ML model).*\n\n*as of 01.10.2020

Algorithm Insights

Market Position
Growing utility with room for optimization
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline