Question 1

Very curious how you can state you're the "1st third-party finance app to allow money movement amongst accounts with different institutions" although you just launched... front finance has been doing this for a few months. I find it very concerning that you make no mention of ...

Accepted Answer

Hi John, Investii is the 1st third-party finance app that allows money movement to any checking, savings, investment brokerage, and retirement account, regardless of institution. We probably should add that clarification so thanks for bringing it up. Investii's biggest differentiator from Mint, Monarch, and all the other platforms you mentioned is that it's ACTIONABLE. Our users can build wealth by moving money to interest bearing/investment accounts from one secure app. We have a competition...

Question 2

Is the total amount you have raised prior to this raise $180,000? Do you have patents? I've followed many types of financial apps, and customer acquisition is extremely important, especially to find an exit. Of of these will offer their product for free or very cheap before mo...

Accepted Answer

Hi Adam, we raised a $180k pre-seed round which was closed in March of this year. We later accepted a position in an accelerator which came with a $100k investment, so the total raised prior to launching the Wefunder was $280k. Several of the unique metrics we capture could be replicated, but would require existing apps to reverse engineer them and gut their existing product to capture the same data points. Our credit risk algorithm is a trade secret. We essentially built the shell of a banki...

Question 3

Do you have any revenue so far?

Accepted Answer

Hi Thierno, Yes, we’ve begun generating revenue on the consumer app through subscriptions and referral fees for accounts opened though our marketplace. Our robo-advisor will go-live in the next few weeks, and we expect that to be a consistent source of recurring revenue through AUM fees. White-label partnerships with banks/credit unions is our avenue to significant recurring revenue, and we anticipate our first LOI this fall.

Question 4

What was the valuation of the company for the prior raise in March and the second accelerator raise?. Why did you time your raise at this point. If you are expecting a deal with one of the credit unions in the next 1-2 months.

Accepted Answer

Hi Venkata, No valuation has been set as all of our raises have been on SAFE notes. The original $180k was raised on a $5M val cap w/ a 20% discount and the accelerator investment is on an uncapped convertible note. All equity will convert at our first priced round. We're raising this bridge to accelerate development of the white-label product. Very shortly, we'll be pushing a major upgrade to the consumer app to include the robo-advisor, and at that point, development priority will shift to ...

Question 5

you are talking about revenue but I do not see any numbers at any point can you please let us know the following details. 1) what is your monthly burn rate at this point?. 2) what is the revenue that has been generated this year?. 3) are insiders taking salaries at this point ...

Accepted Answer

The details tab contains much of that information (https://wefunder.com/investii/details) and here are some of the updates. With the addition of a UI/UX resource and a small amount of marketing dollars, burn is expected to be $10k/mo beginning in October and was ~$8k for August. We launched the app in late June and offered free trials, so we just turned on monetization two weeks ago for subscriptions and have generate roughly $160. We're continuing to experiment with the consumer pricing mode...

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