Sally Helm

Yeah, pretty much. It includes the business plan, also the names of the organizers. They're going to have to go through background checks.

The very next month in March of 2023.

The very next month in March of 2023.

The very next month in March of 2023.

After they catch their breath, they're like, Silicon Valley Bank is really different from us. Like, hopefully this doesn't necessarily have to change anything about our business plan. We're much smaller. We're not going to be concentrated in tech. But also, the country's faith in banking was shaken.

After they catch their breath, they're like, Silicon Valley Bank is really different from us. Like, hopefully this doesn't necessarily have to change anything about our business plan. We're much smaller. We're not going to be concentrated in tech. But also, the country's faith in banking was shaken.

After they catch their breath, they're like, Silicon Valley Bank is really different from us. Like, hopefully this doesn't necessarily have to change anything about our business plan. We're much smaller. We're not going to be concentrated in tech. But also, the country's faith in banking was shaken.

And that's a problem for Fortuna because they're about to have to go out to investors and do the next key step in this process. They need to get people to believe in their business enough to hand over at least $20 million. At a time when those same investors are hearing the words bank failure for the first time in years.

And that's a problem for Fortuna because they're about to have to go out to investors and do the next key step in this process. They need to get people to believe in their business enough to hand over at least $20 million. At a time when those same investors are hearing the words bank failure for the first time in years.

And that's a problem for Fortuna because they're about to have to go out to investors and do the next key step in this process. They need to get people to believe in their business enough to hand over at least $20 million. At a time when those same investors are hearing the words bank failure for the first time in years.

Fortuna Bank submitted their application to regulators in February of 2023. Then the biggest bank failure in years happened. The FDIC got extremely busy. Fortuna expected full approval within about six months. That doesn't happen. But while they're waiting, Fortuna does start in on the last very important step in forming a bank, raising $20 million.

Fortuna Bank submitted their application to regulators in February of 2023. Then the biggest bank failure in years happened. The FDIC got extremely busy. Fortuna expected full approval within about six months. That doesn't happen. But while they're waiting, Fortuna does start in on the last very important step in forming a bank, raising $20 million.

Fortuna Bank submitted their application to regulators in February of 2023. Then the biggest bank failure in years happened. The FDIC got extremely busy. Fortuna expected full approval within about six months. That doesn't happen. But while they're waiting, Fortuna does start in on the last very important step in forming a bank, raising $20 million.

So they start going to business people and institutions and family members saying, do you believe in our idea? Will you invest? And both Ilaria and Lisa said this was way harder and took way longer than they expected.

So they start going to business people and institutions and family members saying, do you believe in our idea? Will you invest? And both Ilaria and Lisa said this was way harder and took way longer than they expected.

So they start going to business people and institutions and family members saying, do you believe in our idea? Will you invest? And both Ilaria and Lisa said this was way harder and took way longer than they expected.

Fortuna's sell to investors was this. A bank is not a unicorn tech stock. It won't have that kind of return. But this investment would actually pay out in much the same way.

Fortuna's sell to investors was this. A bank is not a unicorn tech stock. It won't have that kind of return. But this investment would actually pay out in much the same way.

Fortuna's sell to investors was this. A bank is not a unicorn tech stock. It won't have that kind of return. But this investment would actually pay out in much the same way.

Fortuna's pitch to investors was ultimately convincing.