Best of Shark Tank

Bundil – Invest Spare Change App – Update

SEASON 10 EPISODE 3

PITCH

app that allows users to invest spare change from everyday purchases into cryptocurrency

ENTREPRENEUR

Dmitri Love

ASKED FOR

$100,000 for 10%

GOT

$100,000 for 50%

SHARK

Kevin O’Leary

STATUS

IN BUSINESS

Through the Bundil app, one gets to automatically invest and save spare change from daily transactions on their credit or debit card into cryptocurrency that includes Bitcoin, Bitcoin Cash, Litecoin, and Ethereum. The App traces your expenditure inevitably, rounds up each day’s dealings into the nearest dollars, and then invests the extra. It is more of a spending/investing app. The advantage of Bundil is that consumers do not require mining their cryptocurrency but instead invest in their choice. The App was launched 60 days before being pitched on The Shark Tank. In 2018 it was sold at a subscription fee of three dollars a month or $24 annually and was only available to Apple devices. It now works well for both iOS and Android.

A Bundil of Inspiration

Dmitri Love studied Biochemistry at the University of Arkansas. Love suffered a knee injury when playing soccer that took a long time to recover. During the healing and rest, he taught himself to code and later became a software engineer. Dmitri is a web developer and had always wanted to invest in cryptocurrency together with his family. When helping his mother traverse her cryptocurrency purchases, Love realized the process’s complexity and found inspiration to make appropriate changes. His greatest challenge was customer acquisition, and this inspired him to pitch his company on the Shark Tank show 60 days after he launched it. He wanted to give them an easy way to buy Crypto that did not involve the many previously taken steps.

The pitch on the Shark Tank show

Dmitri walked into the show in quest of $100,000 in exchange for a 10% partnership. Kevin O’Leary had vast experience in the App business and had invested in others earlier. He stated that most Apps fail within 36 months due to the high cost of customers’ purchases that most businesses fail to expect. Love made an offer of $100,000 for a 50% partnership, one that Dmitri accepted. The web developer was aware that he could greatly benefit from Kevin’s Understanding of the market. He hoped that his business would turn out as well as he thought.

Bundil after Shark Tank

Bundil received significant positive reviews from people who were excited about the App. This motivated Love to do more and make his company a success. The Investment thrived with market expansions and revenue augmentation.

Current status

The company is still earning credit and debit card purchases. In 2019, Love capitalized on a space for the App at CES 2019 Eureka Park. He attained exposure with a lot of people requesting to integrate their business with his App. Bundil has been featured on crucial stages such as CNBC, ABC, and Forbes. The App has released a second iteration with a new feature and handles customers’ issues making cryptocurrency readily available to the client. The team behind the App ensures that it is easy to use. Bundil and his team are making relentless advances towards ensuring that cryptocurrency becomes a part of the ecosystems, especially with the current digital era.


Visit the Bundil website

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