Funding & Next Steps

Congrats on the raising the round!

Would be curious to see how you do going forward. Banks usually cut a lot of slack to customers with good deposit size. I have been able to get away with any fee with my bank. So it is the lower deposit, not so profitable customers, who pay fees.

The interest margin revenue source sounds fine, but you will be sharing revenue with your partner banks. Looks like the manage goals feature will be built further to suggest products around goals to generate revenue (Mint kind of play).

Now there's a number.

TechCrunch: "I’ve confirmed that the round was $2.9 million, with an additional $190,000 raised last year in convertible debt (which converted to shares with this round), for a total of $3.1 million raised."

link: http://techcrunch.com/2010/09/01/banksimple-3-1-million/