I'm Juan, one of the founders of rebank, a tool that helps you track burn and send money anywhere.
What happened to business banking?
The number of new fintechs has steadily increased in the last six years. Before this, startups had one bank and one accounting tool. Now there's dozens of finance tools available each with their own overhead. The finance stack has completely changed.
We've created a single source of truth for startup finances to fix this.
How rebank got started
Prior to starting rebank I worked for a GV-backed travel startup. It was my first time working in a finance team so I was learning a lot in a fast-moving environment; it was great.
I hadn't come across a corporate banking interface before, but when I had to use one I was transported to the first time I ever used a PC back when Windows 95 was the dominant OS.
Paying invoices, downloading transactions, checking balances ... it was all so cumbersome. My colleagues were some of the hardest-working people I had ever met and that talent was wasted on cleaning data and downloading csv files.
There wasn't (and still isn't) a tool that solves the problems that incumbent banks create. If this was fixed, startups would have more freedom to focus. That's how the idea for rebank came about.
The biggest challenge since launching rebank
Making sure we're focusing on the biggest problem in the company is our biggest challenge. Everything feels important when you're a small team - should we test ads, write content or both? Do we prioritise growth or retention features this month? We pick a rate-limiting step we want the whole company to influence as an antidote to this.
The biggest success since starting rebank
Getting into Y Combinator wasn't the biggest success but it enabled a lot of success for us. We never thought we’d get in but after intense preparation and some luck we were accepted. I wrote about that here
I'd love to spend some time answering questions about fundraising, pros & cons of being a founder with an MBA, fintech or anything else!