“When we signed that, it was a multi-year deal with, you know, multi-million dollar minimum commitments year over year that continue to grow.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
(the analysis reads context, assessments check outside sources). how →
More from Aaron Schumm
Opinion
Schumm alleges competitors withhold data to siphon client assets
“A lot of other players out there in the industry won't give them data. They're like, no, no, no, it's our data. Cause really what they're trying to do is siphon assets out of the program and bring it in house to themselves.”
Aaron SchummSep 7, 2026▶ 19:21VCs passed on his "boring" startup—raises $385M at a $2B valuation | Vestwell
Opinion
Schumm says 2021 VCs threw cash at fake crypto businesses
“So they were all chasing, all the investors were chasing things that I'm like, that's not even a real business. And you're throwing cash. And I'm like, we have a real business.”
Aaron SchummSep 7, 2026▶ 31:50VCs passed on his "boring" startup—raises $385M at a $2B valuation | Vestwell
Disclosure
Schumm says he secretly recruited replacements for underperforming early employees
“There are some people I brought on early that just didn't have it. Right. And I was just like, oh, I'm like, okay, if I can get another three months out of this person, and then I'm going to go hire someone in the background behind there. I did that a lot. Rig…”
Aaron SchummSep 7, 2026▶ 45:32VCs passed on his "boring" startup—raises $385M at a $2B valuation | Vestwell
AssertionSupported
Vestwell signed Morgan Stanley during COVID to power Morgan Stanley at Work
“It really wasn't until about 20, 20, 21, I remember during COVID where we were able to ink a deal with Morgan Stanley to help be a core component of Morgan Stanley at work. And power their financial advisors and all of their businesses that they were supportin…”
Aaron SchummSep 7, 2026▶ 2:57VCs passed on his "boring" startup—raises $385M at a $2B valuation | Vestwell
AssertionNot checkable as stated
Schumm: Vestwell has over 2.5 million active savers on its platform
“We have over two and a half million people actively saving, meaning that they have dollars on the platform.”
Aaron SchummSep 7, 2026▶ 5:51VCs passed on his "boring" startup—raises $385M at a $2B valuation | Vestwell
Disclosure
Schumm: Vestwell did not build core recordkeeping infrastructure at launch
“We didn't build the core underlying record keeping sub accounting piece when we started the business.”
Aaron SchummSep 7, 2026▶ 12:21VCs passed on his "boring" startup—raises $385M at a $2B valuation | Vestwell
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