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🦄 Unicorner Startup of the Week: EarlyBird
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✍️ Notes From The Editors
What platform do you use for investing? Even more relevant to this week’s startup: if you’re a parent, are you currently investing in your child’s financial future? If so, which online platforms do you like most? And most importantly: what’s your mother’s maiden name? We want to learn from you!
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Invest in your loved ones’ children
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EarlyBird is an app that allows friends and family to invest in the financial future of a child. Once a parent has set up an account for a child, people can gift money to that account, and see an estimate of what their investment should be worth when the child turns 18. EarlyBird manages the money and gives parents the option to choose what kinds of securities they’d like to invest in.
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💰 Business Model
EarlyBird charges parents a $1/month subscription fee per child, and family and friends a $2 processing fee per gift.
📈 Traction and Fundraising
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Raised $4 million in its latest seed round (total $6.4 million in a two-part seed round) from investors including Seven Seven Six (Reddit Co-Founder Alexis Ohanian), Gemini Frontier Fund, RareBreed Ventures, Fiat Ventures, Network Ventures, Reform Ventures, and Alex Lieberman (Morning Brew)
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Currently available as an app on the Google Play Store and iOS App Store
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Waitlist open for crypto wallet support in partnership with Gemini, starting with Bitcoin and Ethereum
👫 Founder(s)
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Jordan Wexler, CEO: Currently Founder @ Recovery Through Entrepreneurship; Previously COO @ AgilityIO, Founder & CEO @ SocialSway, Co-Founder & CEO @ SucceedOverseas (Acquired), Psychology and Sociology @ Occidental College
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Caleb Frankel, COO: Previously Vice President & General Manager @ Yello.co, Product Manager @ KBooM! Games, Advertising @ University of Illinois Urbana-Champaign
💼 Opportunities
Be sure to mention you came from Unicorner when applying!
🔮 Our Analysis
With the impact Robinhood and other apps have had in lowering the barriers of entry to investing, the number of casual retail investors has been skyrocketing. Riding this wave is EarlyBird, which has taken this concept and made it possible to gift children investments rather than cash. With more people investing than ever, it’s easy to see how a market of family and friends interested in long-term investing in the financial future of their children exists. EarlyBird understands this, and it capitalizes on it with an interface that shows how much your contribution will be worth when the child turns 18. It also hopes to simplify the investment process by making account management easy through risk-based portfolios, offering tools meant to teach parents and children about investment, and providing security in the form of protecting investments up to $500,000. With these features in mind, we believe EarlyBird has the potential to completely change this relatively untouched, but very promising, financial space.
📚 Further Reading
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🎁 Bonus Content!
Next week, we’ll be covering a company that’s based in Hong Kong. We’ll be including a Q&A with its founders about their experiences building a startup in Hong Kong for a global audience. What questions would you like us to ask them? Reply to this email letting us know.
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