Jay Reinemann

@rdoddala @howardlindzon @pitdesi @robinhood Agree those SPVs should be criminal. Hopefully AI can teach the investors to be smarter.

@howardlindzon @pitdesi @robinhood I suppose better than double triple layered SPVs but retail is being setup as bag holders

I am always long @robinhood but I disagree Good investors don’t want this and new investors don’t need this If you know how to invest - public software stocks and recent IPO’s are down 50 percent the last month. you think these late stage companies have been ?

"As finance moves onchain, the market needs digitally native infrastructure that is flexible enough to support tokenized assets of all kinds within bankruptcy-remote structures." - @virtuallylaw 🔗 Learn more about how Surus is building for the onchain economy: surus.io

@BrendanEich Humbled and honored to be with you on this journey @BrendanEich!

Congrats to our friends at Propel, one of the rare-bird VC seed investors in Brave. (Brave is not significantly VC-owned, I hasten to add just to assuage the VC-averse. I'm averse to most VC, but not good ones :-)!)

@Arrington_Cap @ColtonFConley @DefiantNews @dlnews Well done @ColtonFConley!!

Arrington Capital Expands Leadership Team, Appoints Ravi Kaza as CIO Partner and Promotes @ColtonFConley to Partner From @DefiantNews: thedefiant.io/news/press-rel… From @dlnews: Top crypto VCs say the Fed is key to next altcoin rally at DL News: dlnews.com/articles/marke…

Hello World. We're building regulated infrastructure to power onchain finance. We’ve raised $8M in seed funding and received regulatory approval from the North Carolina Commissioner of Banks to open Surus Trust Company. Our seed round was led by @CastleIslandVC with participation from @PropelVC, @restivevc, @ProtagonistXYZ, @plcapital, and @PluralVC. Learn more ⬇️

🚀 We’re Hiring! @PropelVC is expanding its investment team and looking for a driven, entrepreneurial investor to join our San Francisco office. ⛰️ At Propel, we back visionary founders shaping the future of money, financial services, and transformative technology. From Seed to Series A, we invest in startups worldwide that are redefining how the world works, trades, and thrives. 🔬As part of our team, you’ll have the opportunity to research, source, and evaluate high-potential investments while working closely with founders and portfolio companies in some of the most innovative areas of the economy. 🎯 We’re excited to expand our team and our impact. If you or someone you know would be a great fit, let’s connect! The job posting has details. Job Posting: linkedin.com/jobs/view/4137… cc/ @JayReinemann @0xelton @braeden_norris

I'm excited for @PropelVC to lead @akua_tech's $4.3M Seed round and work with @jjbehrend, @carlosm61786337, and Rodrigo Rodrigues! Akua empowers payment gateways, processors, PayFacs, orchestrators, and traditional acquirers to overcome legacy system limitations through a cloud-native platform with direct access to any network. The three co-founders individually are fast-moving, clear communicators and relentless recruiters - and collectively built a distinct culture with employees across LatAm. This is the team to deliver scalable, secure, and efficient payment processing solutions for LatAm! Since @PropelVC's first LatAm investment in 2018, we’ve grown to 12 regional portfolio companies, including @timeneon, @NomadGlobalApp, @truora, and @fintoc_com. We look forward to continuing to grow the portfolio in LatAm and supporting exceptional founders working on big problems.

@lkeshre 🇮🇳🙌

As of March 2024, Groww has completed its domicile transition back to India. For our customers, we have always been an India-based organisation for all practical purposes since day 1. With this update, the Groww group and its subsidiaries are completely based in India.  By the way, today marks the completion of 8 years of Groww. Still, a long way to go.

@pgessays @jefielding ❤️. But hopefully those users are not all relatives😘

@jefielding “As long as you have some core of users who love you, all you have to do is expand it. It may take a while, but as long as you keep plugging away, you'll win in the end.” — Paul Graham

Received two decks this week where founders claimed to have hit product market fit. Yeah! 🚀 Only thing is that these were both pre-seed founders with early revenue / tiny ARR 😭 Upon reflection, I love the extreme optimism and hope that these founders can keep it up for the next…10 years.

@asomakumar @b6nbrown @Ryan_Falvey Seems like the more“creative” they become to improve profitability,the less attractive the 3% bait. I hoped for more innovation from HOOD.

@b6nbrown @Ryan_Falvey RH has a lot of levers to improve economics. The cash back is in “rewards points” that can be redeemed for cash, gift cards or used to shop on RH (new portal coming I guess). They can get creative with the redemption math and/or monetize the merchant side of that transaction

Credit card rewards continue to get richer - to the extent that sometimes it's hard to make sense of the P&L supporting these products. For example, Robinhood is now building a waitlist for its Robinhood Gold Card, a Visa Signature product issued by Coastal Community Bank, which promises to pay 3% cash back on all purchases. No spend limits, no unusual fees, no requirement to keep rewards within the Robinhood ecosystem. Considering Visa Signature products earn a blended interchange rate of about 2.2% (+/- 0.1%), this product has deeply negative spend economics. It's likely backed by a creative P&L that considers Robinhood Gold fees, the LTV of new Robinhood customers and the incremental LTV of upselling clients into the Gold program, float - and, like all credit cards, healthy income from lending and late fees. Whether it's workable will depend on Robinhood's ability to underwrite its 20-something customers, whether their spending and revolving assumptions hold true, and whether they can make good risk and servicing decisions doing this in-house. (Robinhood bought the card-issuing startup X1 last year for $95M. X1 was founded in 2017 and uses CoreCard as the foundation of its tech stack, similar to other modern issuers like Deserve and Goldman Sachs / Apple Card.) For more info: robinhood.com/creditcard/

🚨 Our portfolio is hiring! Check out open roles with some of the coolest companies in AI & Web3 👇 ⚡️ Software Engineer with @ParchaHQ ⚡️ Developer Relations with @heliuslabs ⚡️ Designer with Cavela.com (Job descriptions in 🧵)

@peter 👏

Who is *not* going to Fintech Meetup next week and would be interested in getting together in SF (or Marin)? 🙋‍♂️

.@PropelVC is growing the investment team in SF 🎉 Check out the posting and help us find an incredible addition 🙌 linkedin.com/jobs/view/3736…

Congrats to the @NomadGlobalApp team on their Series B! ⚡️ fintechnexus.com/brazils-fintec…

📣 Our friends at @ParchaHQ are hiring! Parcha is building AI Agents to automate compliance and operations. Check out these opportunities to work with an incredible team 👇 parcha.ai/jobs

📣 Propel is back in SF! We're excited to be in person in San Francisco's Jackson Square/North Waterfront neighborhood. Come by and let's catch up!

We've partnered with 3 strong founding teams this summer at the intersection of AI + financial services. @ParchaHQ (announced today), and two with stealth fundraises. I’d like to make another venture investment by August 31, $500k to $4M - preferably at the intersection of AI + financial services (i.e., enable, accelerate, deliver) 🧠🏦 If that's you, please email or DM me as many details as possible 🫶

Founders, I am one of the mentors at @creativedlab -Wisconsin. The format and expertise in the room makes it some of the best time a founder can spend in the early years. Apply: lnkd.in/gwa9FW-7 to be part of #CDL-Wisconsin's 2023/24 cohort. #Risk #Insuretech #Startup

SF Builders - let's get coffee next week! Send a note to @claremckee123 @0xelton or @braeden_norris ⚡️