Biz Builder Mike

You can't sail Today's boat on Yesterdays wind - Michael Noel

U.S. Financial Services Startup Step Secures $50 Million Through Series B Investment Round Led By Coatue

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Step, a U.S.-based financial services company built for teens and families, announced on Wednesday it secured $50 million through its Series B round, which was led by Coatue, with participation from returning investors Stripe, Crosslink Capital, Collaborative Fund, and Will Smith’s Dreamers VC. To-date, Step has raised more than $75 million from investors.

Founded in 2018 and launched just two months ago, Step describes itself as the next-generation financial services company building the best banking experience to help teens and young adults achieve financial independence and knowledge at an earlier age.

“Step gives you a free bank account with zero fees. Track your balance, earn interest, deposit checks and manage your savings from the Step mobile app. You can also send and receive money instantly on your phone, shop with a personalized spending card and earn rewards.”

Step also reported that it has seen tremendous growth, with more than 500,000 users on the platform. Speaking about the investment round, CJ MacDonald, Founder and CEO at Step, stated:

“Since Step’s launch, we’ve seen massive demand for this new type of all-in-one banking solution, making it much easier for teens to learn about money management. We founded Step to help improve the financial future of the next generation and this investment not only validates what we’ve built, but it will also help us continue to innovate and grow with our users.”

Michael Gilroy, General Partner at Coatue, further commented:

“Gen Z is a very passionate and engaged group and they also have an estimated spending power of $75 billion. As this generation continues to mature, they’ve been vocal about the importance of establishing healthy financial habits—with many having lived through two recessions. We’ve invested in Step because we think their game-changing technology and grass-roots approach will help capture the next generation.”

Step added that with the investment round’s funds, it plans to accelerate growth and will continue to expand the team which has doubled in size since the start of the pandemic.

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The Story of the Million Dollar UFO: How the Flynova Pro Raised Over $1M

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Ever imagine that it would be fun to play with a miniature UFO? The Flynova Pro is a toy that’s so out of this world, you’ll think it was from, well, out of this world. The Flynova Pro needs to be seen to be believed: It flies through the air with the greatest of ease; it spins like a dancer on the highest trapeze; it returns to your hand, making playtime a breeze. This innovative toy is fun for all ages, and we were delighted to get some time to sit down with the Flynova team to learn more about their crowdfunding campaign and to find out a bit more about how the Flynova Pro was created.

Tell us about the Flynova team.

We are a group of toy designers, engineers, and dreamers who believe that life should have a perfect balance between work and fun. Our team has over ten years of experience in the toy industry, and we participated in the research and development of more than 100 toys before launching the FlyNova brand. The products we produce bring joy and relaxation to the world. At Flynova, we create the perfect toys for everyone.

How did you come up with the idea?

Flynova’s founder loves handspinners, and he’s also interested in UFOs. One day, when he was playing with a hand spinner, he thought to himself, “Is it possible to combine a hand spinner with a UFO?” He made a flying spinner with ingenious hidden drive mechanisms and gave it a sparkling light effect. It ultimately became the first generation of Flynova. This year, we launched the second generation of Flynova, the Flynova Pro. It has a magic controller, upgraded motors, spherical structure settings, and comprehensive innovations so that everyone can feel the power of magic.

What makes the Flynova Pro different?

The Flynova Pro is a completely reimagined version of the original Flynova. It’s packed with new features, including an upgraded motor for longer, faster flying. The enhanced spherical design means the Flynova Pro can move at a higher speed, while a sturdier build promises improved safety and durability. And with 30 minutes of flying time, we’ve tripled the battery life of the original Flynova. So you can fly better, faster, and longer than ever before. And the all-new magic controller adds a whole new layer of possibility, letting you add hours of fun, learn new tricks, and challenge yourself in new ways.

Why are you running a crowdfunding campaign on Indiegogo?

Indiegogo is a global platform for innovative products from all over the world! We hope to get feedback and reviews on our product so that we can continuously improve it and provide better services. We also want customers from all over the world to learn about the Flynova brand, which is why we’re providing a discounted perk to backers hoping that they’ll join the Flynova Community. 

What’s your philosophy when it comes to building a community?

We want more people to experience a new kind of fun that helps them play and relax when they aren’t managing life’s complexities. We believe that in order to make a toy that will appeal to all ages, we need to provide a stellar user experience. We pay close attention to how people interact with our products, and actively collect feedback from users to enhance them.

What have been your biggest challenges?

There are a lot of fake and shoddy products on the market right now. Poor quality imitations and after-sale defects make consumers mistakenly believe that these are our official products, leaving a negative impression on our brand. We put a lot of research and development into making the Flynova, and we want people to appreciate how special this toy is. 

Interested in backing the Flynova Pro? The campaign is currently still funding! Visit Flynova’s campaign page today!

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Gold Bullion Boss Predicts 500k Bitcoin Price Peg

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The Bitcoin rally already has investors excited. As things stand now, there is little doubt that BTC will break its all-time high record this year. However, investors and analysts are still trying to figure out how high the asset could go. Dan Tapiero, the founder of Gold Bullion International, believes that we could see a six-figure price peg pretty soon.

Institutions to Push Bitcoin’s Market Cap

Speaking with Morgan Creek Digital co-founder Antony Pompliano, Tapiero explained that Bitcoin is on the fast track to $500,000. While the gold enthusiast believes that investors should split their assets between gold and Bitcoin, he acknowledged that the leading cryptocurrency remains the cream of the crop for alternative assets.

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“In the next five years, I can see gold at $4,000, so that’s double. But if gold is at $4,000, Bitcoin is probably somewhere between $300,000 and $500,000, so that’s a 20, 30x,” Tapiero highlighted, adding that no one in the gold trading industry could dispute Bitcoin’s dominance.

Tapiero highlighted that the Bitcoin market already saw a significant influx of institutional investment this year. As the asset’s market capitalization continues growing, more institutions will feel comfortable with it. This could start a cycle of higher investments and a higher valuation for the asset. Once this happens, Bitcoin will take a similar stance as gold.

The gold bug added that Bitcoin also beats gold in terms of functionality. While gold only works as a store of value, Bitcoin functions as an entire network. Due to this greater functionality, Tapiero sees Bitcoin ultimately outperforming gold.

Schiff Remains Unwavering

Tapiero’s acknowledgment was a significant moment, especially considering that many people have begun drawing comparisons between Bitcoin and gold.

Last week, Rick Reider, the Chief Investment Officer of fixed income at asset management giant BlackRock, told CNBC that Bitcoin is here to stay and eventually take gold’s place. While Reider didn’t acknowledge being a Bitcoin bull, he explained that the asset is currently more functional than gold. Ultimately, it would take gold’s place.

Like Tapiero, Reider highlighted the growth in institutional demand for Bitcoin. He also pointed out the asset’s attraction to millennials, who would eventually become tomorrow’s prominent investors. With more millennials choosing Bitcoin over gold, it is only a matter of time before they switch places.  

While Tapiero is okay with acknowledging Bitcoin’s superiority over gold, Peter Schiff, another famous gold bull, remains unconvinced.

Schiff has ramped up his criticism of the leading cryptocurrency this year, even though the asset has proven him wrong several times over. Last month, data from CoinGecko showed Bitcoin hitting the 7-ounce mark against gold for the first time in over a year. Despite the performance, Schiff was unimpressed.

The gold bull lashed out on Twitter, calling Bitcoin the largest bubble he had ever seen.

Gold Bullion Boss Predicts 500k Bitcoin Price Peg

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