Esty Scheiner

Update!! We just closed our round!! Back to work!

@jkhowland I am deeply inspired and in awe of amazing founders like you.

After nearly five years, Seis is shutting down. This is hard to write. I'm grateful to the customers who loved and used our product. Getting to understand their lives and what they needed was the best part of this work. We opened accounts for over 500,000 people. I remember sitting in a sold-out football stadium and realizing that more people than this entire crowd were using their Seis card every month. That's when I understood how many people that actually was. The most thrilling moments of Seis were seeing how much people loved what we were building. We had over 100,000 five-star reviews across the app stores. We grew to $10 million in revenue 16 months after launching, and 80% of that growth came from word of mouth. Customers would tell us that the first day they came to the U.S., their cousin would say: "The first thing you need is a cell phone, and you need to download the Seis app." So what happened? There's a lot to say here, but the short story is that immigration patterns changed and we saw less demand for our product. We're taking a few months to wind down the right way - for our customers and our banking partners. Five years in fintech taught us how much these relationships matter. We built our products compliance first, and we want to finish the way we operated. We had an amazing team - the most talented people I've ever worked with. Some of them are looking for jobs, and I would recommend any of them as an immediate hire. I'll post a public spreadsheet in the comments. Thank you again to everyone who supported Seis.

so inspiring speaking at @ycombinator last night with @zenorocha and @bgrgndzz, two founders I aspire to be like even when things feel "made", they still obsess about product and customers YC has changed everything for me and about me but I know that this is just the beginning

@coffeewithone @ycombinator Thanks @coffeewithone !!!

@scheiner_esty @ycombinator This is such a magical post!! 🚀

A robot snubbed me at @ycombinator alumni demo day 😅 Which other room can you find: -18 yr old who built satellite at 13 yrs - unicorn founder trying to go bigger - robot shaking hands with investor - guy selling drones to gov Energy was electric. Magic in the air✨

Hackathon O1 demos with @sama and @ycombinator were mind blowing 🤯 🤯

@BenHolfeld @ycombinator @sama we are heads down building out auditing tools for complex financial compliance workflows O1 is really great with both reasoning and explainability

@scheiner_esty @ycombinator @sama what r u gonna build?

Here at @ycombinator with @sama for the OpenAI x yc O1 hackathon and the energy is unreal!!! Lets GOOO 🚀🚀

@Austen @octolane is really easy to use. Simplifies all the small and big details

Alright, real talk, which CRM is the best for boring B2B SaaS companies in this day and age? Is it still just Salesforce vs. Hubspot?

BREAKING: Evolve Bank & Trust has allegedly been the victim of a ransomware attack and data breach by Russian hacker group LockBit, multiple info security sites are reporting: The group had touted a cache of Federal Reserve data but, when its demands weren't met, released what appears to be as much as 33 terabytes of data from Evolve's systems. As reports began surfacing yesterday, Evolve sent clients of its Open Banking Division an email (screencap below) acknowledging the reports and that, in conjunction with "law enforcement and government agencies," it is investigating the situation. A request for comment on the situation to Evolve's press contact was not immediately returned. Evolve recently received an enforcement action from its primary regulator, the Federal Reserve Board, which, among other areas, cited the bank's IT practices and required it to develop a plan and timetable to correct information technology security deficiencies. While Evolve is perhaps best known as the bank partner of now-bankrupt Synapse, it supports numerous other high-profile fintech partners, including: Mercury, Stripe, Affirm, Airwallex, Alloy, Bond (now part of FIS), Branch, Dave, EarnIn, TabaPay, and numerous others. It has previously worked with Wise and Rho, though both have since migrated to other bank partners. The authenticity of and potential scope of the data breach couldn't immediately be verified by Fintech Business Weekly, but industry sources who have reviewed the data described the situation as "as bad as it gets," with clear text files that containing end user PII, including SSNs, card PANs, wires, and settlement files. This is a developing story - more here as it happens.

@JonahCrane @mikulaja @NotThatTimD Top Trends: 11/12 focused on Board Gov. 9/12 focused on TPRM/oversight 8/12 focused on BSA/AML 8/12 included restrictions on business

The recent evolve consent order is incredibly wide reaching. It ticks all the boxes compared to previous consent orders. More details below. Thanks @JonahCrane for your incredible table, and distilling so much info! @mikulaja @NotThatTimD

@mikulaja @JonahCrane @NotThatTimD The gov must be having fun :)

@scheiner_esty @JonahCrane @NotThatTimD BaaS Bingo😅

@timgl @ycombinator @garrytan

@scheiner_esty @ycombinator @garrytan

vibes at @ycombinator live launch were immaculate the demos have gotten intimidatingly impressive and when @garrytan DJs it’s special

@timgl @ycombinator @garrytan posthog swag is awesome, almost as nice as the product

@scheiner_esty @ycombinator @garrytan Hat 👀

@rohitdotmittal we should talk

A service that everyone currently hates: Auditing. Someone needs to build a new type of financial auditing firm that uses AI, provides high quality service, and doesn't make you run around. All auditors I have worked with or friends have worked with have had a terrible experience. It's both VC-backable and cash flow generating. If you are building something in this area, would love to chat.

Synapse, once the Banking as a Service leader & the starting point for many neobanks, filed for bankruptcy Mercury, Relay, Cleo, Dave, Yotta, Stilt, Copper were all Synapse clients, but all moved on, some to other BaaS providers (like Unit), some to their own infra.

@pelaseyed @GillBates408 @ycombinator @daltonc you better come back!

The last day with these amazing people ❤️🙏🥷

@coffeewithone Thanks @coffeewithone! appreciate you having my back!!

@scheiner_esty Congratulations @scheiner_esty!!!! Super proud of you!! 🏎️🚀🦄✨💪

#ycombinator #w24 graduation. i’ve never graduated from college so this is the room with the craziest energy i’ve ever been in