Participated · Equity · Feb 2023

Minu provides a gamified, rewards-driven employee wellness platform that began as an earned wage access product and has expanded to more than 30 benefits covering financial, physical and mental health. The company now operates a SaaS subscription model—paid for by employers—that generates roughly half of its revenue and makes services free for employees. Minu reports over 300 enterprise customers (including Grupo Modelo, Coppel and Cinemex) and says revenue grew more than fivefold between 2021 and 2022. It has added a credit union-as-a-service enabling employer-offered savings (starting at 8%) and low-cost loans, plus telemedicine, bill payment and virtual fitness offerings. Employees earn rewards for completing financial education and wellness content, which can increase savings rates and insurance benefits. Minu says the new capital gives it a runway of 22 months and it will continue product development and geographic expansion within Mexico. Minu provides employees with instant, 24/7 access to earned wages via a B2B payroll-integrated app, charging a $2 fixed withdrawal fee. The company integrates with employer payroll so funds are advanced and then deducted from upcoming paychecks, reducing friction for HR teams. Minu serves more than 100 large enterprise and public-sector clients, including TotalPlay, Telefonica, Scotiabank, OfficeMax, Rappi, Adecco, Manpower, Cap Gemini and the Electoral Institute of the State of Mexico. Its transaction volume and revenue grew 18x in 2020 from a small base, though the company declined to disclose hard revenue figures. Co-founders Nima Pourshasb, Rafa Niell and Paolo Rizzi lead a team of about 60 employees. Minu plans to use new capital to grow headcount, expand beyond Mexico and launch complementary products such as financial education, savings, smart-spend tools and insurance.

Led · Series D · Dec 2017

Insikt is a San Francisco-based white-label lender that partners with retailers to provide affordable, credit-building loans to underbanked people who lack a credit score. Led by CEO James Gutierrez, the company leverages partner data and relationships to underwrite and distribute loans. Since late 2014, Insikt has processed more than 325,000 applicants across 30 partners in California, Texas and Illinois, totaling 620 stores, and has made 125,000 loans. The company began operating in Arizona last month. Insikt closed a $50m Series D that brings its total funding to $100m. It intends to use the funds for further growth in existing and new markets. Insikt is a San Francisco, CA-based fintech specializing in lending-as-a-service (LaaS). It operates an online loan origination and investing platform that enables brands to lend to their customers and gives accredited investors access to invest in consumer loan portfolios. The company was founded by James Gutierrez, the founder and former CEO of Oportun. Oportun has lent over $4 billion to the U.S. Latino community, a background that informs Insikt’s focus. Insikt plans to use the recent funding to continue to expand operations. No revenue or user metrics were disclosed in the article. Insikt provides a Lending-as-a-Service (LaaS) platform that lets retailers, merchants and banks offer small installment loans while Insikt manages the operational details. Loans are placed on Insikt’s balance sheet for the first few months, powered by capital from partners such as Capital One and Atalaya Capital Management. After each brand accumulates its own portfolio, those loans are pooled and issued as bonds to outside investors. The platform is designed to allow consumers with low or no FICO scores to access installment plans at the point of sale. Insikt says the newly raised capital will be dedicated to fueling company growth. The company is based in San Francisco.

Led · Series D · Jul 2014

Bonobos began as an online-only clothing retailer and has gradually added physical "Guideshops" to let customers try on clothes before they buy. The company's core product is clothing sold through its website and these in-person showrooms, which provide a personalized shopping experience. It currently operates 10 Guideshops following a recent Los Angeles opening and plans to open 30 more nationwide to expand its offline presence. Bonobos reports that in-store transactions have double the average order value of online shoppers and that visitors often buy more than traditional online users. To fuel that expansion the company raised a $55 million Series D led by Coppel Capital, with participation from Accel Partners, Lightspeed Venture Partners, Nordstrom, Mousse Partners, Glynn Capital Management, Forerunner Ventures, and Felicis Ventures. Since being founded in 2007, Bonobos has raised a total of $127 million. Bonobos launched in 2007 and built its business around signature better-fitting pants before expanding into a full menswear line including dress shirts, suits, shorts and sweaters. The company was founded by Brian Spaly and Andy Dunn; Spaly has since left to lead Trunk Club. Bonobos operates primarily through its direct-to-consumer website and a New York City headquarters showroom store. The brand is now moving beyond its web-only roots by partnering with Nordstrom to sell products in stores and on Nordstrom.com beginning in April. Nordstrom will carry Bonobos’s top two product lines—the Washed Chinos and the Bonobos Weekday Warriors—as well as some seasonal pants and shorts at select stores. Financially, the company has raised a new $16.4M round that increases its total funding to nearly $40M. Bonobos makes better-fitting men's pants and has built a burgeoning brand around improved fit and press-driven customer acquisition. The article reports the company raised $18.5 million in funding, described as a large round backed by two prominent venture capital firms. Founder and CEO Andy Dunn conducted interviews about the company, while co-founder Brian Spaly was later credited as the designer who originated the pants and fit ideas. The pair had a falling out after the early days, and Spaly went on to found a new company called Trunk Club. TechCrunch updated its coverage to reflect Spaly's role and the piece emphasizes the need for founders to formalize co-founder relationships. No operating metrics, valuation, or other financial details were disclosed in the article.