Zach Perret

They don't think that the banks are building the products they want. So being 23-year-old entrepreneurs, we set out and said, we're going to go build a better budgeting tool for consumers, because that's going to help consumers live a better financial life. So we had this whole story for a year. We built a bunch of these. They all failed.

They don't think that the banks are building the products they want. So being 23-year-old entrepreneurs, we set out and said, we're going to go build a better budgeting tool for consumers, because that's going to help consumers live a better financial life. So we had this whole story for a year. We built a bunch of these. They all failed.

They don't think that the banks are building the products they want. So being 23-year-old entrepreneurs, we set out and said, we're going to go build a better budgeting tool for consumers, because that's going to help consumers live a better financial life. So we had this whole story for a year. We built a bunch of these. They all failed.

And then we pivoted to build this infrastructure piece, which was basically the back end to our previous product. And that was actually a really good idea. But when we were trying to raise from people, everybody said no to us. We actually lined up this early funding round. It's a 500K funding round at a $2 million valuation. And the lead investor for this funding round backed out.

And then we pivoted to build this infrastructure piece, which was basically the back end to our previous product. And that was actually a really good idea. But when we were trying to raise from people, everybody said no to us. We actually lined up this early funding round. It's a 500K funding round at a $2 million valuation. And the lead investor for this funding round backed out.

And then we pivoted to build this infrastructure piece, which was basically the back end to our previous product. And that was actually a really good idea. But when we were trying to raise from people, everybody said no to us. We actually lined up this early funding round. It's a 500K funding round at a $2 million valuation. And the lead investor for this funding round backed out.

And he was investing $100,000 or something like that. And then the rest of the funding round fell apart. And we were out of money. We were basically dead as a company. And so we went to all the investors that had been planning to invest. And we were like, hey, look, the lead has backed out. We'd still love to take your money. But the lead is gone. And we just want to be transparent about it.

And he was investing $100,000 or something like that. And then the rest of the funding round fell apart. And we were out of money. We were basically dead as a company. And so we went to all the investors that had been planning to invest. And we were like, hey, look, the lead has backed out. We'd still love to take your money. But the lead is gone. And we just want to be transparent about it.

And he was investing $100,000 or something like that. And then the rest of the funding round fell apart. And we were out of money. We were basically dead as a company. And so we went to all the investors that had been planning to invest. And we were like, hey, look, the lead has backed out. We'd still love to take your money. But the lead is gone. And we just want to be transparent about it.

We don't want it to be a surprise. So we did it, and everybody walked away from that, except for these three people, all named Justin. And they invested a collective $60K in the company. It kept us alive. They invested $60K, maybe $2.5 million valuation. That was the lifeline we needed to sustain until we could get to some customers that were actually using it.

We don't want it to be a surprise. So we did it, and everybody walked away from that, except for these three people, all named Justin. And they invested a collective $60K in the company. It kept us alive. They invested $60K, maybe $2.5 million valuation. That was the lifeline we needed to sustain until we could get to some customers that were actually using it.

We don't want it to be a surprise. So we did it, and everybody walked away from that, except for these three people, all named Justin. And they invested a collective $60K in the company. It kept us alive. They invested $60K, maybe $2.5 million valuation. That was the lifeline we needed to sustain until we could get to some customers that were actually using it.

We had a late-stage contract with Venmo. Then it was maybe six or eight months later that we went back and raised a seed round. It was valued at $11 or $12 million, so an actual good step up. Did you think you were going to die? Yeah. But I mean, we hadn't paid ourselves in six months at that point. We were like, whatever. At some point, we're going to actually run out of money.

We had a late-stage contract with Venmo. Then it was maybe six or eight months later that we went back and raised a seed round. It was valued at $11 or $12 million, so an actual good step up. Did you think you were going to die? Yeah. But I mean, we hadn't paid ourselves in six months at that point. We were like, whatever. At some point, we're going to actually run out of money.

We had a late-stage contract with Venmo. Then it was maybe six or eight months later that we went back and raised a seed round. It was valued at $11 or $12 million, so an actual good step up. Did you think you were going to die? Yeah. But I mean, we hadn't paid ourselves in six months at that point. We were like, whatever. At some point, we're going to actually run out of money.

My co-founder was living on a friend's couch. I'd moved in with my girlfriend because I couldn't pay rent anywhere. And I had a moderate amount of credit card debt, which I don't advise to any other founders. But we thought we were going to die. But we also had nothing to lose. So you just keep going.

My co-founder was living on a friend's couch. I'd moved in with my girlfriend because I couldn't pay rent anywhere. And I had a moderate amount of credit card debt, which I don't advise to any other founders. But we thought we were going to die. But we also had nothing to lose. So you just keep going.

My co-founder was living on a friend's couch. I'd moved in with my girlfriend because I couldn't pay rent anywhere. And I had a moderate amount of credit card debt, which I don't advise to any other founders. But we thought we were going to die. But we also had nothing to lose. So you just keep going.

When we did the sale to Visa that ultimately didn't go through, we raised a funding round afterwards. One of the most complex things to do in that funding round was I wanted to try to max the number of people that could participate in the secondary. We couldn't get to 100% of employees, but we got to the large majority of employees that were able to participate in that secondary.

When we did the sale to Visa that ultimately didn't go through, we raised a funding round afterwards. One of the most complex things to do in that funding round was I wanted to try to max the number of people that could participate in the secondary. We couldn't get to 100% of employees, but we got to the large majority of employees that were able to participate in that secondary.