Brigit's journey to $100MM+ revenue and $1B in fees saved, with CEO Zuben Mathews

Lex chats with Zuben Mathews - CEO and Co-founder of Brigit.
Brigit is a leading consumer financial app in the United States
that offers a suite of holistic financial products including
budgeting, financial insights, access to paychecks, and credit
building. Zuben kicks off the conversation discussing his journey
from investment banking at Deutsche Bank to founding one of the
largest financial health apps in the U.S. Mathews reflects on his
early experiences in banking, where he launched a small
entrepreneurial team within Deutsche to leverage the bank’s data
and client relationships to drive revenue. This experience helped
shape his approach to solving real financial pain points, which
became the foundation of Brigit.


 


Zuben explains Brigit’s focus on addressing the U.S. financial
crisis of living paycheck-to-paycheck, a problem he personally
experienced as an immigrant student. Brigit’s initial product
leverages cashflow data to provide instant cash advances, helping
users avoid overdrafts and predatory loans. Mathews emphasizes
that Brigit’s success stems from a commitment to solving users’
deepest financial issues and using real-time cashflow data, not
traditional FICO scores, to provide financial solutions.


 


The conversation delves into Brigit’s subscription-based business
model, which offers transparency and value to users, helping them
save money while improving financial stability. Zuben discusses
how the app has grown to serve over a million users, generating
more than $100 million in revenue with a small team of 90. He
also addresses challenges in fintech, such as data access in the
U.S. compared to Europe’s open banking regulations, and calls for
more balanced regulation that encourages innovation while
protecting consumers.


 


The discussion concludes with Zuben advocating for greater access
to bank data and better infrastructure for fintechs, highlighting
the importance of innovation in improving customer outcomes in
the financial space.


 


MENTIONED IN THE CONVERSATION


 


Brigit's Website: https://bit.ly/4d8tqoh


Zuben's LinkedIn: https://bit.ly/3XvsEvT


 


Topics: Fintech, neobank, overdraft, cash advance, subscription,
financial wellbeing, PSD2, regulation


 


Tags: Brigit, Deutsche Bank, Plaid, Chime, Revolut, Monzo,
Yodlee, Synapse, Coastal Community Bank


 


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Twitter: https://twitter.com/LexSokolin


 


TIMESTAMPS


 


1’36: From Deutsche Bank to Brigit: Zuben Mathews' Journey in
Finance and Entrepreneurship


 


5’03: Bridging Silos at Deutsche Bank: Detailing Strategic Vendor
Partnerships and Fintech Insights


 


9’06: From Startup Struggles to Success: Building Brigit and
Navigating the Challenges of Entrepreneurship


 


15’41: Solving America's Deepest Financial Pain Point: The Vision
Behind Brigit's Differentiation in a Crowded Fintech Market


 


21’07: Leveraging Cashflow Data to Outperform Banks: How Brigit
Built a Product to Tackle Overdraft Fees and Expand Financial
Access


 


24’47: Beyond Overdraft Protection: How Brigit Uses Cashflow Data
to Reduce Financial Stress and Drive User Engagement


 


29’01: Balancing Affordability and Financial Health: How Brigit's
Subscription Model Empowers Users While Lowering Costs


 


33’25: Challenges of Data Access in US Fintech: Navigating Bank
Transactional Data and the Push for Open APIs


 


40’36: Navigating US Banking Rails: The Role of Regulation,
Innovation, and Customer-Centric Solutions in Fintech


 


45’24: The channels used to connect with Zuben & learn more
about Brigit


Disclaimer here — this newsletter does not provide investment
advice and represents solely the views and opinions of FINTECH
BLUEPRINT LTD.


Contributors: Lex, Laurence, Matt, Farhad, Mike, Daniella


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