April 29, 2024

In a follow up to the note from last week where we found our vision to be 80% of what we anticipated and 20% of it to not be exactly quite right, I'm excited to share our own adjustments to our vision off the heels of what we've accomplished in the last two quarters in the all hands this week.

April 22, 2024

One of the better podcasts I've heard in a while was where Miguel Armaza from the Fintech Leaders podcast interviewed Mike Seckler, the CEO of Justworks. As someone who's founded companies, sold companies, and wanted to do it all over again, he shared a wealth of insights and experiences that most certainly have parallels to what we've gone through.

April 15, 2024

The return of New York Fintech Week is a time where VCs from all around the country descend upon the city and between the gatherings and lunches and dinners, it turns into quite the week. I had the chance to attend a number of these events and this year more than ever felt like we’ve hit a bit of the mainstream. 

April 8, 2024

One of the key metrics the board is monitoring is our revenue per employee as it is a good indication of how efficient we actually are and how scalable we can be. Back in Q1 2022, we were averaging just $[ ]K in revenue per employee and yet by Q4 2023, we pushed it all the way up to $[ ]K and in recent months we're tracking even above $[ ]K. Behind this metric though is all the little things that we've gotten so much better at doing well.

April 1, 2024

With the first quarter of the year in the books, it’s been remarkable to look back and see just how much we accomplished. Bar none, this was the best quarter in our company’s history by every conceivable metric. It’s a testament to what we can accomplish together as a team when we are laser focused on results. Below are just a few of the records and firsts we achieved these last 3 months:

March 25, 2024

Over the past few weeks, Bryan and Prath have been working hard to try and establish a partnership with a fund that could dramatically alter the trajectory of our AUM growth for 2024 and beyond. I'm pleased to share that we have entered into a letter of intent with a group called Wingspan Capital that will aim to establish an interval fund called "Pursuit" that will deploy capital into our offerings at a scale that we have never seen before.

March 18, 2024

Peter Walker is the Head of Insights at Carta and he often posts some really interesting data around fundraising, valuations, and more. Last week he happened to share a lookback at the vintage of companies founded in 2018 (the same year we were founded) on Twitter/X and it was a sobering look at the dropoff that happens with each successive round.

March 11, 2024

In striking the balance between supply and demand, we've done a remarkable job recently at growing our accredited investor base, even in light of the latest defaults and workouts. We're coming in over $[ ]M ahead of our initial plan for accredited investors as of February and that's a testament to all of the efforts from marketing and IR/Syndication to not just acquire new investors but nurture existing and convert sign ups that never funded their accounts.

March 6, 2024

Our monthly all-hands have usually been just me speaking to you about key topics for the month. In light of that, I'm pleased to share that we're going to be changing things up a bit this week and having one of our longest tenured board members, Navtej S. Nandra, coming in to share some of his thoughts around his experiences in being a part of our company for the last 4 years and where he wants to see us focus our efforts heading into the rest of this year.

February 26, 2024

As February comes to a close, we are getting ahead of the ball and beginning to prepare the Q2 product roadmap. I appreciate all the time the various different individuals and teams spent with Gary the past few weeks to outline the key features they’d like to see implemented next. Looking back at Q1, it has been a fantastic quarter for the team as we shipped or are in the process of shipping out deposit interest and statements.

February 20, 2024

We've had no shortage of records and firsts in the past few months but this one is likely the most significant. We just posted our first ever net income beat vs. plan in January, no small feat given how tightly we modeled out our plan for each month in 2024. This stemmed from a combination of a sizable revenue beat and being prudent about expenses.

February 12, 2024

It's remarkable to see the progress we continue to make on the product front with this renewed focus on generating more revenue or saving on expenses. Investor deposit interest was shipped quickly to where we are now testing the math and distribution mechanics. Statements have gotten to the point where we can generate any statement for any investor for any given month, and now it's on us to verify the accuracy of all the transactions before we take it officially live.

February 5, 2024

It's been a good Q4 and a great January, and that’s thanks in large part to the sheer focus and dedication to ensuring we hit every major line of business’ KPIs, which in turn would mean that we would either meet or exceed our overall corporate objectives around revenue and net income. 

January 29, 2024

As many of you know, we’re navigating a number of deals that are either in workout or at risk, none more significant than [ ] as the rest have a relatively clear path to recovery. For [ ], the situation is a bit more complex as the path to recovery is contingent on the viability of the company long term and whether it can either raise more venture capital or turn profitable.

January 22, 2024

As we head into another board meeting this week, we are coming off of one of the most successful quarters in the company's history. The recap for 2023 will be short and sweet but it's about what we do with 2024 that is going to make all the difference. The key themes for this year that we will be going over with them are below: