Some exciting news from SF!
Over the past few weeks we’ve been busy behind the scenes and have some exciting news to share. Earlier this week I headed to San Francisco to participate in the finals of VISA’s Everywhere Initiative and to present GoSave to VISA’s executive and innovation team’s. After a hard fought contest, we’re pleased to announce we won our category and are now off to VISA’s global payment’s conference in DC in June!
Why we’re excited about this
Our long term goal is to one day be able to potentially help millions of kids learn financial literacy from a young age and set them up for better futures. To achieve that kind of scale that we feel we need to build our partnerships with the major players. As a global brand with relationship’s with over 10,000 banks across 200 countries, VISA is a potentially ideal partner and seem to really believe in our goal. We also like the idea of a smart reloadable debit card to work with your GoSave in future too, so as kids get older they can have their own debit card, but a smart one that you can turn on and off from the GoSave app :) It’s early days of course but we’re rapt that a company of VISA’s size and scale sees the value in what we’re doing and is keen to support us as much as they can. There was a small cash prize too of $25K US which helps us start our production and the chance to win an additional $25K in June.
Speaking of production, we’ve recently met a really interesting group in Australia that can manufacture GoSave both at small and large scale. We can’t share the news just yet as still negotiating final terms but we’re excited by the potential of working with them. Having a local manufacturer costs us slightly more (on a per unit basis) but gives us much more granular control of quality, reliability, speeds up communication and saves us a fortune in travel costs to and from Shenzhen. More news on this to come.
The GoSave app
Jason, Ameer and the team made some great early progress on the app pre KickStarter and that’s continued over the past few weeks. If you’re keen to see how that’s progressing — Jason’s put together a six minute video to run through some of the key features which we’ll send through as a separate update next week.
Bringing on first investors
After the VISA conference it’s likely we’ll open our first round of funding. To date we’ve been entirely self-funded, which has given us the freedom to really focus on the product and experience — but raising a small seed round will give us more in reserve to build our inventory and invest more in marketing and continually improve the product.
Some personal news!
Last but definitely not least, Jason and his wife Lyn, welcomed their new born son Eric to the family. So in addition to building a new startup we both have new borns at home. It’s a busy and exciting time all round and who needs sleep anyway :D
KickStarter campaign closes soon!
There’s just under a week left in our KickStarter campaign too so if you have any friends, family or colleagues who you think might like what we’re up to, feel free to give us a plug.
Thanks for following and we’ll let you know how we get on in DC.
Andrew & Jason