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Feb 5, 2016 · 25m · 20vc

20 VC FF 034: What Fintech Can Learn From Uber and The Shift From Financial Organisation To Financial Efficiency with Kelly Peeler, Founder & CEO @ NextGenVest

Kelly Peeler · 18m spoken Harry Stebbings · 5m spoken
0:00 / 0:00

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In this episode of The 20 Minute VC, host Harry Stebbings interviews Kelly Peeler, founder and CEO of NextGenVest, to discuss the evolution of consumer fintech towards automated efficiency. Peeler outlines NextGenVest's mission to combat student debt using SMS and Snapchat channels, build millennial trust, and scale through grassroots and educational partnerships.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Harry holds 23.1% of the talking time here. How this is scored →

Harry as informed peer 2.3 Guest teaching 5.0 Guest disagreement 0.2 Harry pushing back 0.8
05100:0010:0020:002:03–5:37 · Harry as informed peer 1/10 Kelly Peeler's Background and Founding NextGenVest Harry introduces Kelly warmly and asks for her background. Kelly explains her passions for student empowerment and financial history, detailing her work in Iraq and citing student loan statistics such as $2.9 billion in financial aid left unused annually.5:37–9:45 · Harry as informed peer 3/10 The Evolution of Fintech: From Organization to Efficiency Harry frames a question around the evolution of fintech from V1 to V2. Kelly expands on this by contrasting financial organization (Mint) with financial efficiency (Acorns, automated background tools), framing it as optimizing for time and trust.9:45–13:19 · Harry as informed peer 2/10 Building Trust with the Millennial Demographic Harry asks how startups can build trust given the widespread skepticism toward traditional financial institutions. Kelly cites Facebook research showing only 8% of millennials trust banks, and breaks down trust into saving time, saving money, and personalization.13:19–16:52 · Harry as informed peer 4/10 Leveraging Communication Platforms and the Attention Graph Harry connects push notification strategies from a previous podcast guest (Ellie Wheeler) and later challenges Kelly with the example of Meerkat on platform risk. Kelly defends using SMS and Snapchat by referencing Gary Vaynerchuk metrics and clarifying that NGV collects cross-platform user data rather than being platform dependent.16:52–19:04 · Harry as informed peer 2/10 NextGenVest's Customer Acquisition and Growth Strategy Harry asks about customer acquisition channels. Kelly outlines a three-part growth strategy involving grassroots high school NGV clubs, in-app SMS/Snapchat referral loops, and leveraging 17 state mandates requiring financial literacy courses.19:04–24:52 · Harry as informed peer 2/10 Quick Fire Round: Productivity, Advice, and Future Goals In the quick fire round, Kelly shares favorite business books, daily productivity habits like note cards and painting, advice from Adam Nash and Josh Elman, and her five-year goal to build NGV into the premier student money brand.2:03–5:37 · Guest teaching 5/10 Kelly Peeler's Background and Founding NextGenVest Harry introduces Kelly warmly and asks for her background. Kelly explains her passions for student empowerment and financial history, detailing her work in Iraq and citing student loan statistics such as $2.9 billion in financial aid left unused annually.5:37–9:45 · Guest teaching 6/10 The Evolution of Fintech: From Organization to Efficiency Harry frames a question around the evolution of fintech from V1 to V2. Kelly expands on this by contrasting financial organization (Mint) with financial efficiency (Acorns, automated background tools), framing it as optimizing for time and trust.9:45–13:19 · Guest teaching 6/10 Building Trust with the Millennial Demographic Harry asks how startups can build trust given the widespread skepticism toward traditional financial institutions. Kelly cites Facebook research showing only 8% of millennials trust banks, and breaks down trust into saving time, saving money, and personalization.13:19–16:52 · Guest teaching 5/10 Leveraging Communication Platforms and the Attention Graph Harry connects push notification strategies from a previous podcast guest (Ellie Wheeler) and later challenges Kelly with the example of Meerkat on platform risk. Kelly defends using SMS and Snapchat by referencing Gary Vaynerchuk metrics and clarifying that NGV collects cross-platform user data rather than being platform dependent.16:52–19:04 · Guest teaching 5/10 NextGenVest's Customer Acquisition and Growth Strategy Harry asks about customer acquisition channels. Kelly outlines a three-part growth strategy involving grassroots high school NGV clubs, in-app SMS/Snapchat referral loops, and leveraging 17 state mandates requiring financial literacy courses.19:04–24:52 · Guest teaching 3/10 Quick Fire Round: Productivity, Advice, and Future Goals In the quick fire round, Kelly shares favorite business books, daily productivity habits like note cards and painting, advice from Adam Nash and Josh Elman, and her five-year goal to build NGV into the premier student money brand.2:03–5:37 · Guest disagreement 0/10 Kelly Peeler's Background and Founding NextGenVest Harry introduces Kelly warmly and asks for her background. Kelly explains her passions for student empowerment and financial history, detailing her work in Iraq and citing student loan statistics such as $2.9 billion in financial aid left unused annually.5:37–9:45 · Guest disagreement 0/10 The Evolution of Fintech: From Organization to Efficiency Harry frames a question around the evolution of fintech from V1 to V2. Kelly expands on this by contrasting financial organization (Mint) with financial efficiency (Acorns, automated background tools), framing it as optimizing for time and trust.9:45–13:19 · Guest disagreement 0/10 Building Trust with the Millennial Demographic Harry asks how startups can build trust given the widespread skepticism toward traditional financial institutions. Kelly cites Facebook research showing only 8% of millennials trust banks, and breaks down trust into saving time, saving money, and personalization.13:19–16:52 · Guest disagreement 1/10 Leveraging Communication Platforms and the Attention Graph Harry connects push notification strategies from a previous podcast guest (Ellie Wheeler) and later challenges Kelly with the example of Meerkat on platform risk. Kelly defends using SMS and Snapchat by referencing Gary Vaynerchuk metrics and clarifying that NGV collects cross-platform user data rather than being platform dependent.16:52–19:04 · Guest disagreement 0/10 NextGenVest's Customer Acquisition and Growth Strategy Harry asks about customer acquisition channels. Kelly outlines a three-part growth strategy involving grassroots high school NGV clubs, in-app SMS/Snapchat referral loops, and leveraging 17 state mandates requiring financial literacy courses.19:04–24:52 · Guest disagreement 0/10 Quick Fire Round: Productivity, Advice, and Future Goals In the quick fire round, Kelly shares favorite business books, daily productivity habits like note cards and painting, advice from Adam Nash and Josh Elman, and her five-year goal to build NGV into the premier student money brand.2:03–5:37 · Harry pushing back 0/10 Kelly Peeler's Background and Founding NextGenVest Harry introduces Kelly warmly and asks for her background. Kelly explains her passions for student empowerment and financial history, detailing her work in Iraq and citing student loan statistics such as $2.9 billion in financial aid left unused annually.5:37–9:45 · Harry pushing back 0/10 The Evolution of Fintech: From Organization to Efficiency Harry frames a question around the evolution of fintech from V1 to V2. Kelly expands on this by contrasting financial organization (Mint) with financial efficiency (Acorns, automated background tools), framing it as optimizing for time and trust.9:45–13:19 · Harry pushing back 0/10 Building Trust with the Millennial Demographic Harry asks how startups can build trust given the widespread skepticism toward traditional financial institutions. Kelly cites Facebook research showing only 8% of millennials trust banks, and breaks down trust into saving time, saving money, and personalization.13:19–16:52 · Harry pushing back 5/10 Leveraging Communication Platforms and the Attention Graph Harry connects push notification strategies from a previous podcast guest (Ellie Wheeler) and later challenges Kelly with the example of Meerkat on platform risk. Kelly defends using SMS and Snapchat by referencing Gary Vaynerchuk metrics and clarifying that NGV collects cross-platform user data rather than being platform dependent.16:52–19:04 · Harry pushing back 0/10 NextGenVest's Customer Acquisition and Growth Strategy Harry asks about customer acquisition channels. Kelly outlines a three-part growth strategy involving grassroots high school NGV clubs, in-app SMS/Snapchat referral loops, and leveraging 17 state mandates requiring financial literacy courses.19:04–24:52 · Harry pushing back 0/10 Quick Fire Round: Productivity, Advice, and Future Goals In the quick fire round, Kelly shares favorite business books, daily productivity habits like note cards and painting, advice from Adam Nash and Josh Elman, and her five-year goal to build NGV into the premier student money brand.

speaking balance: gold is Harry, purple is the guest (3 minute bins)

0:00 · Harry 81% · guest 19%0:00 · Harry 81% · guest 19%3:00 · Harry 12.6% · guest 87.4%3:00 · Harry 12.6% · guest 87.4%6:00 · Harry 3.1% · guest 96.9%6:00 · Harry 3.1% · guest 96.9%9:00 · Harry 23.6% · guest 76.4%9:00 · Harry 23.6% · guest 76.4%12:00 · Harry 10.7% · guest 89.3%12:00 · Harry 10.7% · guest 89.3%15:00 · Harry 17.6% · guest 82.4%15:00 · Harry 17.6% · guest 82.4%18:00 · Harry 8.6% · guest 91.4%18:00 · Harry 8.6% · guest 91.4%21:00 · Harry 9.4% · guest 90.6%21:00 · Harry 9.4% · guest 90.6%24:00 · Harry 66.3% · guest 33.7%24:00 · Harry 66.3% · guest 33.7%
Sharpest disagreement ▶ 15:56 Kelly counters platform dependence concern

Kelly politely rejects Harry's implied premise about platform risk, clarifying that NextGenVest uses platforms to learn and aggregate data rather than being strictly reliant on a single channel.

 Hardest push from Harry ▶ 15:37 Harry questions platform risk citing Meerkat

Harry directly challenges Kelly's strategy of relying on third-party channels like Snapchat by bringing up Meerkat's demise when Twitter shut down their integration.

 Biggest teaching moment ▶ 11:15 Kelly highlights 8% bank trust stat

Kelly educates Harry with specific research from Facebook Insights, revealing that a remarkably low 8% of millennials trust traditional banking institutions for advice.

 Harry holds his own ▶ 13:39 Harry draws parallel to previous guest Ellie Wheeler

Harry demonstrates sector familiarity by referencing a recent interview with investor Ellie Wheeler regarding push notification clutter and smart communication timing.
the scores for every segment, with the reasoning behind each
ChapterTopicHarry as informed peerGuest teachingGuest disagreementHarry pushing backWhy
Kelly Peeler's Background and Founding NextGenVest 1500 Harry introduces Kelly warmly and asks for her background. Kelly explains her passions for student empowerment and financial history, detailing her work in Iraq and citing student loan statistics such as $2.9 billion in financial aid left unused annually.
The Evolution of Fintech: From Organization to Efficiency 3600 Harry frames a question around the evolution of fintech from V1 to V2. Kelly expands on this by contrasting financial organization (Mint) with financial efficiency (Acorns, automated background tools), framing it as optimizing for time and trust.
Building Trust with the Millennial Demographic 2600 Harry asks how startups can build trust given the widespread skepticism toward traditional financial institutions. Kelly cites Facebook research showing only 8% of millennials trust banks, and breaks down trust into saving time, saving money, and personalization.
Leveraging Communication Platforms and the Attention Graph 4515 Harry connects push notification strategies from a previous podcast guest (Ellie Wheeler) and later challenges Kelly with the example of Meerkat on platform risk. Kelly defends using SMS and Snapchat by referencing Gary Vaynerchuk metrics and clarifying that NGV collects cross-platform user data rather than being platform dependent.
NextGenVest's Customer Acquisition and Growth Strategy 2500 Harry asks about customer acquisition channels. Kelly outlines a three-part growth strategy involving grassroots high school NGV clubs, in-app SMS/Snapchat referral loops, and leveraging 17 state mandates requiring financial literacy courses.
Quick Fire Round: Productivity, Advice, and Future Goals 2300 In the quick fire round, Kelly shares favorite business books, daily productivity habits like note cards and painting, advice from Adam Nash and Josh Elman, and her five-year goal to build NGV into the premier student money brand.

Statements from this episode (11)

Opinion
Student loan burden is the top barrier facing young people
“I wholeheartedly believe that the absolute number one thing preventing young people from Living their fullest lives currently is the student loan burdens that they have to deal with.”
Kelly Peeler Feb 5, 2016 ▶ 4:49
Assertion Supported
Average US college student graduates with $30,000 in loans
“In the U.S., the average kid graduates with around 30 K in loans.”
Kelly Peeler Feb 5, 2016 ▶ 4:59
Assertion Supported
US students leave $2.9 billion in financial aid unclaimed annually
“There are students leave about 2.9 billion dollars in free financial aid on the table every year because the process is frankly just so shitty.”
Kelly Peeler Feb 5, 2016 ▶ 5:14
Assertion Supported
30% of US student debt borrowers drop out before graduating
“For the people who do take out student loans 30% of those people end up dropping out of college before they actually graduate”
Kelly Peeler Feb 5, 2016 ▶ 5:24
Insight
Personal finance is shifting to automated background tools
“We're entering the, quote unquote, set it and forget it stage of personal finance where people don't want to be checking charts and graphs. They just want their tools Working for them in the background.”
Kelly Peeler Feb 5, 2016 ▶ 8:06
Disclosure
NextGenVest targets high school students to build early financial trust
“We're starting our relationship with students in high school to build long-term trust with them.”
Kelly Peeler Feb 5, 2016 ▶ 10:35
Assertion Supported
Only 8% of millennials trust banks for financial guidance
“Another, another kind of ridiculous stat, in my opinion, is also from this Facebook research report, which I'm happy to send you, is that eight percent of millennials trust banks and financial institutions for guidance.”
Kelly Peeler Feb 5, 2016 ▶ 11:13
Assertion Supported
45% of Snapchat users are under age 25
“45% of Snapchat users are under the age of 25, and they're over there's nearing about two hundred million users with about seven billion video views per day.”
Kelly Peeler Feb 5, 2016 ▶ 14:42
Prediction Not checkable as stated
Every consumer brand will eventually need a presence on Snapchat
“In my opinion, that's where every single brand will have to be. Because you have to be where your users are.”
Kelly Peeler Feb 5, 2016 ▶ 15:17
Prediction Held up
A successor to Snapchat will emerge within five years
“I have absolutely no doubt that there will be another, you know, the next version of Snapchat will come along in five years”
Kelly Peeler Feb 5, 2016 ▶ 15:57
Assertion Supported
17 US states mandate financial literacy courses in high schools
“A Department of Education mandate for about 17 states, which require a financial literacy course.”
Kelly Peeler Feb 5, 2016 ▶ 18:31
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