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Invest in The Vault

A digital safety deposit box to bank the Unbanked


📝 Over 15k customers signed up on waitlist
💸 Founding team has strong track record of exits; grew prior company to $1B in revenue
📣 Featured in New York Post, Washington Post, CNBC
🚀 MVP built; launching beta in Q1 of 2022
🌟 Founders formerly at IBM, Yahoo!, and Rokt; 9 team members including expert advisors
🌎 ~2B Unbanked people worldwide, costs $3K to be Unbanked

Our Team

My personal story started with the continuous erosion of trust towards banks in the global financial crisis in 2008. Exploiting a moral hazard and risking their consumers money they do not provide these services to everyone. We strongly believe that access to the financial system is a human right which should be accessible for anyone.

Why The Vault?

55 million people in the United States are Unbanked. Globally? Just under 2 billion.

This is a HUGE problem. Bank accounts are crucial to navigating society: they hold our savings, provide an interest rate, and can be used to get credit cards, apartments, insurance, and more.

For a second, just imagine trying to buy a car without a bank account. How would you apply for financing, and how would you pay for it? The obstacles seem insurmountable.

There are many reasons why someone might be unbanked - it could be that the monthly fee is unaffordable, a lack of identification, a criminal record or a geographical reason.

In the US, the Unbanked are disproportionately Black and Hispanic Americans. Millions of legal immigrants also land in this group, as well as ex-felons who have been blacklisted.

Banking the Unbanked

In 2008, our founder Vladi Kuschnerov came up with the idea for the Vault in the wake of the financial crisis.

The role that banks played opened his eyes to the many issues in our financial system. Banks were not incentivized to best serve the people; they were incentivized to best serve their own profits - resulting in overly-risky behavior and intentional leaving out of certain groups.

Vladi moved to the US a few years later and tried to open up a bank account - a massive struggle being a foreigner without US credit history or US identification. Even with a steady income to report, it took him months. At this point, he finally became determined to tackle the problem.

The Vault Money App: How it works

Our solution is simple: a digital safety deposit box accessible to all.

Equitable Access: The Vault provides access for all humans, regardless of income, background, nationality, credit history, or legal status.

Transparent: Our customer policies are written in plain language for all to understand. Our customers are part of a community of stakeholders we serve, along with our employees, investors and the environment.

Secure: By design, The Vault is a safe place for money, financial data, and other personal information. We will never sell customer information and are committed to consumer financial privacy.

The Vault app will feel similar to any banking app - users have 24/7 access to their balance from their phone, can use a debit card to buy things, and employers can deposit funds right into their account.

On the back-end, we are using Blockchain-based, proprietary technology to facilitate transactions - resulting in efficient, auditable and transparent services.

Making money, in the fairest way possible

Our MVP is built and we’re launching the beta in Q1 of 2022. We already have more than 15,000 potential customers signed up for the waitlist, and expect to be generating $190K in revenues in Q1 post-launch. 

We hope to break-even by Q4 in the first year after launching.

We plan to make money through a monthly subscription fee. But unlike monthly maintenance fees charged by banks, our tiered membership is built to support and drive equity.

The more money you have, the more money you contribute back as a fee. Someone from a low-income range might pay $1 per month, versus someone who makes more might pay $12 a month. This makes sense to us.

Meanwhile, banks will waive fees for people who maintain a certain monthly minimum - i.e. those who can most afford to pay banking fees.

From a social welfare standpoint, that doesn’t make any sense.

A fragmented market, filled with ineffective solutions

Our market is made up of the 55M Unbanked or Underbanked Americans in the US, and globally, 1.7B adults.

Who is serving this group now? Often, greedy and underregulated providers charging hefty fees and soaring interest rates. This includes payday lenders, prepaid cards, money orders, check cashing services, pawnshop loans and the like.

These services often appear inexpensive upfront but tend to cost more over time as the expenses pile up.

Source: Las Vegas Sun

The average financially underserved household has an income of around $25,500 and spends around $3,000 annually on interest and fees - around 10% of their income. That is the penalty they pay for being excluded from our financial system, despite being the group that needs help the most.

This is not our first rodeo

Our founder and CEO, Vladi Kuschnerov, has over 15 years experience in digital marketing, B2B sales and strategy consulting. During the pandemic, he was inspired to drop his job as COO at an eCommerce SaaS company to launch The Vault.

Our co-founder and CFO is Chris Spillman, an experienced lawyer with 20+ years experience in Biglaw, small law and in-house / entrepreneurial roles. He has robust experience in FinTech, SaaS and technology companies.

We have three advisors, including the ex-Chief Product officer at n26, the biggest global neobank, as well as 4 full-time employees working across product, product design and engineering.

We're looking to launch & GROW!

We’re seeking to raise $500K - $1M in this round, which would allow us to go full steam on launching a public beta version of our product, ramping up our revenue channels and growing our team.

Our beta focuses on basic features, but by end of 2022, we hope to offer more advanced features - including transfers to and from external bank accounts, virtual debit cards, physical withdrawals and more.

We believe that access to the financial system is a human right; it is a prerequisite to survive and function properly. Everyone – despite their income or their history – should have access to basic personal finance tools.

Join us in our mission to democratize access to the financial system. Let’s bank the Unbanked.