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MoneyVerbs, PBC

Experience Money Differently

USA, Minnesota
Market: Education, training, Financial services
Stage of the project: Prototype or product is ready

Date of last change: 20.10.2020
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Idea

MoneyVerbs is a financial wellness app that creates a space where money doesn’t have to be taboo. Users can join a community where they will talk to real people about money experiences. They have the ability to share challenges, curiosities, and accomplishments, and grow on their journey towards achieving their financial goals.

Current Status

Right now we’re available in the Apple iOS store and Google Play store. We have over 1000 MAU on our freemium version. We're looking to add partners for advertising and sponsorships. in 2021 users will be able access our app anywhere at any time for free, or upgrade to the premium version for less than the cost of a music subscription.

Market

Focusing on Gen-Z, the largest growing generation in America and in the world.

Problem or Opportunity

Our Target Market wants financial security that allows them the freedom to lead lifestyle of full of experiences and free of worry.

However, we're never taught anything about money. Money is taboo, so we don't talk about it or practice it. There is a lack of generational understanding of wealth so we just keep making the same mistakes over and over again. We in follow consumerism the fish in a school. We're born in this environment where capitalism wins with poor behavior of the majority.

This results in money being seen as evil and taboo.

Solution (product or service)

Afraid to talk about money? We have 100's of lessons & case studies that you can discuss with other learners to get the focus off of you & onto the topics.

Nervous about making mistakes in the real world?
We have 100's of challenges & simulations that you can practice to build the right financial skills without risking real money or financial status.

Feel like you don't have time or can't afford to see a financial professional? You can access our app anywhere at anytime for free or get the premium version for less than the cost of a music subscription.

Competitors

Reading - Nerdwallet, Bankrate, Investopedia, Rich Dad Poor Dad
Podcast/Radio - Dave Ramsey, Suze Orman
Employer Programs - LearnLux, Ayco
LMS Solutions - Kajabi, Etc..

Advantages or differentiators

We know that 85% of financial literacy courses are never completed, and the average adult reads less than 2 books per year. The best way for humans to learn is through experience - which means making mistakes. With money there has never been an affordable way to make mistakes without affecting one's financial future. There have been a few attempts to help, but we know that in 2020 and beyond the way to help Gen Z experience money differently is through a mobile platform that allows them to practice money more like a skill.

Finance

B2C - $7/m or $70/year for a premium subscription.
B2B - Advertising & Sponsorships (on freemium)
B2B - $56/year for students or employees as a group

Business model

Freemium model with advertising and sponsorships. This will grow into a premium option for the user.

B2C - $7/m or $70/year for a premium subscription.
B2B - Advertising & Sponsorships (on freemium)
B2B - $56/year for students or employees as a group

Money will be spent on

We will be focusing on development of our premium features. We've done quite a bit of testing and research and know where to head next. We want to sure up our runway and begin marketing.

Offer for investor

Currently offering convertible notes, but open for negotions!

Risks

Our Riskiest Assumptions include:

Users will take the time to learn and practice on MoneyVerbs vs. other activities (TikTok, Instagram, Netflix)
Users will continue to pay for MoneyVerbs after the first year
Users will find value in the MV methodology vs. alternatives (Dave Ramsey, Nerdwallet, Bankrate, Podcasts)
Users will trust that MoneyVerbs knows what it’s talking about.
Users will invite others to the app
Companies will pay for the app for their constituents

Incubation/Acceleration programs accomplishment

We have been accepted into 2 accelerators that start in November 2020. {Confidential until then}

Won the competition and other awards

NMA Startup Pitch Competition - Spet 2020 $1,000

Photos

Photo 1 - Experience Money Differently

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
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