Assertion Partly supported
Bearer sold his previous round-up platform for $65M in five years
“I previously started the third largest Roundup to Invest platform globally. I took it from zero to sixty-five million dollar exit in five short years, and I acquired a million users on that platform.”
Assertion Not checkable as stated
Bearer: Previous startup achieved $18 blended CAC per monetized customer at scale
“We saw a blended cost of about 18 dollars per monetized customer on the last platform, and we did that at scale.”
Opinion
Bearer: The future of personal finance is multiplayer
“The future of finance, in my opinion, is multiplayer.”
Insight
Bearer: Focusing on cash flow and profitability creates exit ramps at every step
“Build a business you want to own and still will others. So if you focus on good growth, cash flow, profitability, you could spit off cash dividends, you could be acquired, you could go public. There will be exit ramps every single step of the way.”
Assertion Supported
Bearer: 67% of Black and 70% of Latino families do not invest in equities
“67% of black families, 70% of Latino families don't invest in equities today.”
Assertion Not checkable as stated
FutureMoney reports 500 customers and a 30% download-to-paid conversion rate
“We went to market in April after getting our SEC approval, and we've onboarded our first 500 customers onto the platform in the last two months. With that, we've seen a 30% conversion rate from download to monetized customer”
Disclosure
FutureMoney is raising $1 million to scale to 25,000 customers and $1M ARR
“We're now raising a million dollars of financing to be able to onboard our first 25,000 customers and generate a million dollars of annual current revenue.”
Assertion Supported
SECURE Act 2.0 allows $35,000 rollovers from 529s to Roth IRAs
“January first of this year, the Secure Act two point O came into effect, effectively allowing 35,000 dollars to rollover from a five to nine account to a Roth IRA account. Now, this rollover is a very complex and admin heavy process that takes multiple years. …”
Disclosure
Bearer: Future Money charges $48 annually or 25 bps for larger accounts
“We charge a 48 dollar a year annual membership for accounts under 20,000 dollars a year.
We charge 25 basis points for accounts over
20,000 dollars a year.”
Assertion Not checkable as stated
Bearer: Future Money is in talks with six major financial incumbents
“So we have six major incumbents that we're in conversations with. They would like to see between 25 and 50,000 customers on the platform, although we just had a great pitch with an insurance company yesterday that is interested in exploring further, so it is e…”
Disclosure
Bearer: Future Money has $750K committed at a $7M SAFE
“Out of that million, we have 750,000 committed at a seven million dollar safe. And we're looking for an additional 250,000 dollars to be able to close out the rest of this round.”
Assertion Supported
Bearer: Only about 15% of the US population has a 529 account
“Right now only about 15% of the U.S. Population has a five to nine account, so that's not a huge component.”
