Early stage funding firm Antler Australia just lately backed 13 startups as a part of its ongoing program to construct nice native tech corporations. Over six weeks, Startup Day by day will share the small print of every enterprise within the “Antler Investor Memos” sequence.
It’s also possible to meet the founders on the Startup Day by day present on ausbiz.com.au each Monday and Wednesday.
This sequence is designed to provide you a fast, sharp understanding of the startups and other people concerned, with many looking for observe up capital following Antler’s preliminary pre-seed funding.
Firm: Bobbob
Formation date: 2022
Stage of enterprise: Pre-Seed
Founders: Byron Goldberg and Nikolai Herbstritt
Present traders: Antler
At the moment elevating: Sure
About Bobbob
Bobbob is a high-interest funding platform that gives clients above market rates of interest (as much as 7.60% on USD) and rewards saving and good monetary habits. It challenges how Australians, and other people all over the world, save and spend their cash utilizing know-how as its enabler to alter the way in which we take into consideration finance .
Accountable consumerism is constructed into Bobbob’s DNA. It promotes sustainable finance by serving to clients save to attain long-term targets, as a substitute of caving to on the spot gratification. This dedication to make a distinction to its clients’ funds and the planet’s future is actioned by means of its regulated funding account.
Bobbob just lately launched a carbon-based reward program working with Betacarbon’s BCAU token, an Australian-based firm tokenising and buying and selling notional carbon tokens (BCAUs), linked to Australian Carbon Credit score Models (ACCUs).
Prospects earn BCAU as rewards for depositing, in essence, giving some consideration to offsetting transactions.By an ASIC-regulated funding account, clients can deposit and withdraw Australian {dollars} at any time.
These funds are transformed into USDC, a digital asset with equal United States {dollars} held in banks within the USA. The returns are generated by the funds being lent to institutional shoppers, such asHedge Funds, who use the funds for arbitrage, hedging, and float and progress capital. In contrast to banks, Bobbob passes on the advantages on to clients making certain they at all times get a justifiable share of those returns.
Antler funding thesis
“Bobbob’s ethos to pretty reward savers with above market charges, whereas taking a stand on over-consumerism and its affect on the planet is an thrilling step ahead in fintech,” mentioned Cath Rogers, Companion of Antler Australia.
“We’ve been impressed with Byron’s drive to develop seamless person expertise, safe sturdy partnerships, and steadily develop Bobbob’s person base”
Traction/milestones, thus far
Bobbob secured over 4,000 downloads after the nimble crew launched its iOS and Android apps in Could of this 12 months.
Alongside the brand new app, Bobbob launched a wave of latest product options together with: “Save what you don’t spend” encouraging customers to check-in weekly on the cash they by no means spent permitting them to make these financial savings depend, automated deposits enabling clients to arrange recurring direct debits, and the supercharge function, permitting clients to opt-in and purchase crypto by merely depositing AUD.
Due diligence sources
Discover Bobbob’s pitch video and investor deck by way of The Antler Portfolio Evaluate Platform.
Newest funding
Pre-Seed from Antler
Use of funds
Antler’s Pre-Seed funding has enabled Bobbob to concentrate on product improvement and improve its person expertise, launch numerous new options, and strategically purchase clients.
The founders say
“Because it stands in the present day, our monetary programs don’t at all times function in our greatest pursuits—they permit fast debt for pointless purchases,” mentioned Byron Goldberg, co-founder and CEO of Bobbob.
“Gone are the times of being persuaded to Purchase Now, Pay Later. With Bobbob, we’re unleashing a motion to Save Now, Have Extra Later.
“With Antler’s current funding, we’ve been capable of prioritise creating our product to ship world-class options to clients and create options that seamlessly allow our clients to save lots of and make investments.”
What’s subsequent?
Antler, a worldwide early-stage VC, just lately showcased the most recent investments it’s made in bold Australian founders and startups. Bobbob featured as one in every of Antler Australia’s latest portfolio corporations.
Discover how Bobbob presents Aussies a good rate of interest on their financial savings with a regulated funding account by way of the Antler Portfolio Reveal Platform.
- StartupDaily is the official media companion of Antler in Australia.
