Keeping tabs on us

June 6, 2022

After we paused our Series B process, I made it a point to let the handful of VCs who did extensive diligence on us know that I would be keeping them in the loop on all of our progress. With the release of the underwriter product last week, it felt like the appropriate time to share an update on how the last few months have evolved.

I managed to speak with four of the VCs last week and the feedback was resoundingly positive. They all came away extremely impressed with how much we've been able to do in such a short amount of time. Underwriter is launching and we have the short list of deals with third party underwriters that are ready to go. Our annual recurring revenue is going to more than double the moment we get our broker dealer license and can charge service fees. [ ] is launching and covering our first ever blended note as a true [ ] product this week. And we are making progress towards hitting the institutional revenue targets we had projected. Above all else, we did what we said we were going to do and in as volatile and uncertain a year like this one, they felt that says something in and of itself.

I'm going to continue to keep them in the loop as we knock these objectives out one by one but I fully believe that this year is the one we can be that rare company that is able to look adversity in the face and rise to the occasion. We know what our target objectives are, we know what the VCs are looking for, and they've all but reaffirmed what we need to do for them to make the move.

May was a tough month for us, there's no doubt about that, but June is shaping up to be our best month yet and I know we have it in us to make it happen 🙌