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Update #7 – February 2023

Sign up for monthly investor updates. Every month, Carry Founder, Ankur Nagpal, sends this public list the (almost identical) update sent to our stakeholders. Sign up to receive the next update.

Update #7 – February 2023

Yoooo

February flew by and it was a month of heads-down execution. We launched our education product at the start of the month, and started rolling out investing on our Solo401k’s on the last few days of the month.

I feel great about our velocity, but now want us to take this month to move the bar on quality and UX. One of the mistakes I made at my last company is building lots of features & products to the ~80% completion stage before moving onto the next shiny object – which eventually caught up with us.

This time around, we want to build something really f’ing good – so we intend to spend all of March tightening every facet of our core product while focusing on growing our AUM

All while figuring out who we want to be when we grow up <3

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Metrics

Revenue (Cash Basis): ~$25K (+270%)
MRR: $4,670 (+76%)
Customers: 270 (+70%)
AUM: <redacted>

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February Updates

  • We launched Carry Money! We welcomed 100+ customers, have gotten really good reviews so far, and have a fantastic foundation to build it out further.
  • We rolled out investing to a tiny cohort of users, with the goal of opening it to everyone next week. Kinda wild to have actual AUM now.
  • We did NOT figure out what our next fintech product is yet 🙁

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What’s Happening This Month

  • Rolling out investing to every 401k user, and then slowly working to bring our core Solo401k product to feature completion – we have a ton of loose ends to wrap, and we’d love to get to a strong position by this time next month before making a final push ahead of Tax Day.
  • Spending some time thinking about how to integrate the education side & fintech side – it’s feeling disjointed having them be completely separate, and I suspect we may want to combine them in some form sooner rather than later.
  • Expecting March to be a slow month revenue-wise where we spend the majority of our time laying the foundation for a big marketing blitz in April. But hoping to push a ton on AUM this month!
  • We have our team retreat in my favorite city in North America during the week of March 13 – can you guess where?

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How You Can Help

We’re good, take this month to chill – I’m sure we’ll have asks this time next month 😘

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Bisous,
Ankur