Update #17 – December 2023

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Update #17 – December 2023


December was our best month yet. We did ~$140K in gross sales, MRR grew 40% m-o-m, AUM grew 60% m-o-m and we had a successful launch of a new product. Very dope to see it all come together after a year of hard work.


  • MRR: $30,310 (+41%)
  • Customers: 933 (+39%)
  • AUM: <redacted>
  • Runway: 19 months
  • We also made ~$1600 in crypto trading fees this month not reflected in MRR above – will soon start breaking out revenue into MRR and Misc Fees.

What Happened Last Month

  • End of year madness! Solo 401k’s are a seasonal business and we saw lots of new accounts created and dollars deposited. What’s been encouraging to see is a large number of organic referrals from existing customers.
  • We had a successful public launch of our self-directed IRA product. Early numbers look strong with $500K+ in assets transferred in (not reflected in AUM number above) and almost 40 active accounts. Still some ways to go to tighten the UX.
  • Challenges with our custodian Drivewealth. Been our biggest pain point so far, and worried about how we scale here – particularly transfers into the system. Our AUM number would likely have been even higher if we could process all the incoming transfers smoothly. Open to guidance from any fintech veterans.

What’s Happening This Month

  • Launching a new marketing site. Our current site is a bit of a forgotten stepchild relative to the design and UX progress we’ve made inside the app, so we’ll be catching it up and re-launching on ProductHunt this month.
  • A few of our customers have been asking to invest in the company. We may raise a small amount of money from them (including from their IRA’s inside Carry!) – if any of y’all are interested in participating, fill out this form.
  • Relaunching Carry VIP as more of a tax product. We’ve been hesitant to do tax returns directly (and we’re still going to subcontract out a large part of the work) but it’s been the biggest request we’ve gotten by far. We’ll start by working with a handful of S-Corp owners with a few hundred thousand in annual profit – and focus on tax planning + prep. Think we could save most of them a LOT of money by vertically integrating.

How You Can Help

  • We’re gucci

Hope y’all had a banger NYE and are ready to kick ass in 2024.

– Ankur