Company Overview

FloyMoney: personalized financial advice for minorities
 
 
Mission / Vision
Increase access to financial advice and wealth building resources for less-wealthy individuals.
 
 
Highlights
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  • Bullet 2
Key Risks
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Customer & Product

Target Market / Customer
138 million financially underserved Americans
 
Problem / Need
Over 55% of Americans do not have access to financial advisory or don’t qualify for retail asset management net worth hurdles
With Do-it-yourself platforms like Robinhood and WeBull, users still struggled to understand how best to save, invest and spend
Without the insight on how to affordably save, invest, and insure themselves against risks, many minority families struggle to translate the income they earn into wealth
Product & Wedge
All in one financial and investment home. We are bringing wall street into the main street.
  • We streamline all our customer’s financial life in one place
  • Personalized financial advisor - Wall Street grade
  • Guided investment portfolios/recommendations
  • Credit
  • Retirement
  • Automated budgeting and Savings
  • Debt Management
  • Benefit
  • Financial education
 
Defensibility
[What is defensible today or in the future?]
 
Go-To-Market
We are starting where the need is greatest: The underserved Gen Z and Millennial population in the minority group.
 
Monetization
Membership/Subscription $5 - $25/month
Affiliates partnerships
 

Market

Why Now / Macro Trends
Digital-only banking. Every year, more people are doing their banking online. About 65.3% of banking customers are expected to do so in 2022 — continuing a slow but steady trend.
 
Market Size
100 million minorities / $20B Annual Revenue Opportunity
 
Competition
Robo Advisors - Wealthfront, Betterment
Advisor Solutions - Fidelity, Charles Schwab
Floy Money - The Best of both
 
Advantage
[Why do we like this company relative to the field?]
 

Traction

Product
User Experience Research
Ui Design - On-going
 
Metrics
User Research
Customer Survey
UI Design
 
Unique Insights
Consumers are feeling more anxious about their personal finance than ever and are willing to talk openly about it and we are leveraging it
There is an increased interest in building wealth amongst underserved minority groups
Lose of faith and trust in Wall Street

Team

Core Tea
Olayinka Akinhanmi - 2x Founder Nerditt, Gruply | Senior PM KingsPay, Helium Health
Chukwuemeka Obiaka 10 Yrs VP Goldman Sachs - Portfolio/Asset Management
Akindele Akinhanmi 7 yrs DELL/EMC, InterSystems - Software/System Engineering
 
Roadmap & Milestones
[What are key business and product milestones over the 12-24 months?]
 

Pitch Notes

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References

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