#spoileralert
Like I wrote in The Pitch Insider, some investment decisions are easy to make. This was one of those “hell yeah!” investments.
The Pitch Fund wrote a $100k check into FutureMoney’s $1.5 million seed round.
Meet Philip Barrar, the founder of FutureMoney.
When you watch Phil pitch on our show, it should be very clear why we invested. But just in case you need a refresher, here’s what we like about the company.
Strong founder: Phil is a second time founder with a chip on his shoulder building in consumer fintech like his previous co. Moka, which he sold for $65M in 2021. Little known fact: Phil didn’t want to sell at the time, he wanted to keep building. It seems the board voted otherwise.
A moat: Phil is building defensibility around the trademark “Junior Roth IRA”. A trademark that I believe the big institutional banks will want to use, and pay Phil to license along with FutureMoney’s 529 savings to Roth IRA rollover tech.
Maximum scrappiness: prior to the show, they had only raised $500k. Phil was able to build a fintech mobile app and get SEC approval with just $500k! Phil didn’t waste any time or money. He knew exactly how to build the app, who he wanted to build it and how to navigate the regulatory piece.
Strong early traction: now that FutureMoney is live on the app store, Phil is relentlessly focused on customer acquisition. They’re employing influencer marketing along with paid strategies and monthly webinars he and his cofounder are hosting to educate customers on this new tax-advantaged approach to build wealth for your kids.
Will FutureMoney become the next billion dollar consumer fintech brand? Only time will tell. There’s a lot that can go wrong along the way.
Does it have the potential to become the next billion dollar fintech? Yes, absolutely.
So we wrote the check.
Phil’s round was quickly oversubscribed after The Pitch recording event.
The Pitch Fund I closes to the general public on December 15th. So if you’d like to own a piece of FutureMoney and 40+ other high-potential startups, now is your chance to invest.
Learn about our fund thesis and startup selection process here. If you’re interested in investing, you can fill out this form or simply reply to this email and I’ll follow up with next steps.
~Josh