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October 2022 Update

💡 Key highlights

🚀🚀🚀 The Modern MVP mobile app is now LIVE, officially kicking off our public beta!!! (fyi search for "Modern bills").
Kicked off development of our flagship feature Modern Bill Protect (overdraft protection for bills) and subscription platform.
officially joined the team to oversee credit risk and strategy and build out the Modern underwriting playbook.
Obtained ~$50k in commitments towards our $250k angel round.

➡️ What’s next

Launch our Beta / MVP by end of October
Kick off our initial series of growth marketing campaigns to test, learn and drive engagement
Close small strategic angel round by end of November
Launch our Modern Bill Protect pilot program by December
Full public launch, including release of Modern Bill Protect, our subscription-based product, in conjunction with Seed financing targeted for Q1-2023

🙏 Asks

We have opened a small angel round to bring on strategic angel and advisors. This investment will allow us to build on the momentum of our public beta launch, accelerate our roadmap, and fill key roles to scale the platform ahead of our public launch and Seed round in Q1 of next year. If you or anyone in your network might be interested, please let us know or feel free to forward our .
We are also looking for strategic advisors to help us refine our credit / lending strategy, with specific expertise in building and scaling operations, risk and compliance programs.

Company Overview

Feel free to forward this as you please!

(Fmr Head of Product @ Onward, PM @ Steady) and (Fmr Tech Lead @ Real Estate Big Data) founded and are on a mission to build the Financial OS for working-class Americans. Modern is backed by and a team of industry advisors (xCOO of Marcus, CEO of Steady, BD @ Google Pay, Product @ Credit Sesame). Zack and Ben have hired a talented team (, , ), demonstrated strong initial traction through a six-month, 500-user pilot program ($25 CAC, >$500/mo in bills, 1.44 viral coefficient), and launched their wedge product, (iOS and Android mobile app + debit card), into public beta. Modern is actively raising an angel round (up to $250k SAFE @ $5M post-money cap) to bring on strategic investors/advisors and accelerate their roadmap ahead of a Seed round in Q1.

Mission & Product:
Despite earning enough money to cover their essential bills, over 50% of Americans consistently struggle to pay on-time each month, leading to unnecessary stress, fees, and barriers to credit. This happens because their cash is spread across a complex, disconnected, and hidden network of banks, apps, and people, leaving them without the cash they need, when they need it most.
Modern is on a mission to build the Financial OS for hard-working Americans so they never miss another bill. Through an end-to-end bill pay platform, powered by Modern Bill Protect, Modern provides an intelligent card and instant access to affordable cash and support needed to pay bills on-time every month.

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