Great Oaks is among the most active Seed-stage investors based in New York. We partner with founders at the earliest stage of company building, focused on supporting founders building enduring businesses across the United Sates. We invest between $50,000 and $500,000 in Pre-Seed, Seed and Series A financings. We are a generalist firm, however, the majority of our time is spent on Software, Healthcare, Financial Services, Marketplaces and Enterprise.
In recent years, there’s been no shortage of startups offering credit lines to the underbanked. Most talk about their mission to help people establish credit, which is noble, but they’re also extending credit because — let’s face it — lending out money is lucrative. Now, a startup founded by Stanford grad James Savoldelli has found a new wedge into the same industry, and it’s through pawn shops. Called Pesto, it’s a savvy idea. For those in dire financial straits, pawn shops are a bank of last resort. An individual doesn’t have to have a credit line or a bank account or even income. A customer with a government ID can simply leave behind something of value — jewelry, electronics — and receive a secured loan in return for a percentage of the value of that item, plus interest. If he or she pays off the loan, that person can retrieve the item; otherwise, it’s forfeited and sold.
Many people join Ibotta for our culture, and that doesn’t just happen by accident.” Senior Engineering Manager Minh Pham joined the company in 2018, and soon became an integral part of helping to “build, rebuild and scale the culture at Ibotta” through an annual series of events, called ‘CultureCon’. Pham, along with the rest of Ibotta’s engineering team, have worked together to produce CultureCon annually since 2018, when they recognized how large their team was growing. Scaling a team can create instability, so the group designed the week-long CultureCon to fortify psychological safety, improve communication and facilitate collaboration both within engineering and across the company.
U.S.-based savings and investing startup Acorns has acquired London-based GoHenry, a startup focused on providing money management and financial education services to 6- to18-year-olds in an all-equity deal, the two companies announced today.