Photo - gig
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gig

Expense card for 1099 workers

USA, New York
Market: Financial services
Stage of the project: Prototype or product is ready

Date of last change: 12.05.2019
Min investment
$  50.000
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Total required
$ 1.000.000
Rating
equalizer из 1000
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Idea

Expense card for 1099 workers automating write-offs and tax reporting

Current Status

Getting ready to launch, collecting future customers, 1st investor on board

Market

57M 1099 workers in the US, expected to grow rapidly over the next few years.

Problem or Opportunity

1099 employees overpay on taxes and miss crucial write-offs, pay CPAs, and spend a lot of time and energy tracking deductible expenses and collecting receipts.

Solution (product or service)

An expense card that automatically tracks and identifies deductible expenses.

Competitors

Freshbooks, Quickbooks, Xero, Wave - control a large amount of market
CPAs - traditional solution
Bench, Keeper, Botkeeper, Lance - new bookkeeping solutions, cost money

Advantages or differentiators

Free
Does the work for you - set it and forget it
Gives the user money back (points)

Finance

Offering the product for free, and making money from interchange fees, conservative projection of $150 annual ARPU

Business model

Interchange fee

Money will be spent on

Financial services provider (issuer, BaaS), marketing and sales

Team or Management

5,00
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video