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Mooch โœ‰๏ธ

your digital piggy bank

setting the scene

  • you’re dying to go on a ski trip this winter, and it’s time to start thinking about saving up ๐ŸŽฟ
  • unfortunately, you can’t stop yourself from impulsive purchases like an NFT and top-shelf tequila ๐Ÿ’ฒ
  • when it’s time to book your flight, you realize that your ski trip won’t happen, and you probably should’ve saved for the electricity bill as well ๐Ÿ˜ฉ
  • this week’s company keeps spending priorities in line by giving users a personalized budgeting experience

in a sentence

Mooch is a budgeting app that places earnings into personalized envelopes and rewards users for reaching their savings goals

  • envelopes: users can put money aside for rent, credit card payments, or even car loans ๐Ÿš—
  • rewards: once the user meets an envelope’s saving goal, they earn a cash bonus โž•

bulleted version: picture several piggy banks, each dedicated to a specific item; Mooch helps automatically fill each piggy bank until users reach their savings goals  ๐Ÿท

the basics

  • industry: fintech, consumer, blockchain
  • headquarters: San Francisco, CA ๐ŸŒ
  • year founded: 2020
  • company size: 9
  • investors: Bee Partners, Necessary Ventures
  • amount raised: $1.5m pre seed
  • business model: takes % of earned interest

sponsored by 

  • founders know that building an app is no easy task, but Techstars-backed startup, Apsy, is innovating how apps are built through their AI platform
  • Apsy has quickly acquired their first 40 customers, generated $0.5M in revenue in their first year, and will be rolling out a new platform that walks users through building an app via verbal conversation
  • Apsy is raising their $2M seed round (with more than half already complete) and running a crowdfunding campaign as well; this is a company worth paying attention to

due diligence

what we like

  • ๐Ÿ– disrupting the piggy bank: a digitized envelope system allows users to personalize budgeting, seamlessly move money from a paycheck to an envelope, and earn some interest
  • ๐Ÿ—ฃ leading with diversity: Mooch has laid their foundations with a diverse team
    • with different perspectives and backgrounds at the table, Mooch is well positioned to address financial literacy for all 
  • ๐Ÿงข $0 CAC: Mooch has organically acquired all their customers by growing a tremendous social following: 300k on TikTok and 60k on Instagram

potential risks

  • ๐ŸŒŠ crowded market: the app store is flooded with financial productivity apps; will Mooch’s method stand out from the crowd?
  • ๐Ÿ’ต budgeting is personal: Mooch has created a new approach to budgeting that may intimidate those who are used to their excel spreadsheets or keeping their money under the mattress
  • ๐Ÿ‘ฎ๐Ÿฝ regulations: future regulatory landscape may disrupt Mooch’s current bonus issuance model

founder profiles

comps

why Mooch: we are banking on Mooch to help users budget, grow their savings, and initiate a new era of the digital budgeting ๐Ÿช™ 

so…would you invest?

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