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Bundil is a fintech product that appeared in season 10 of The Shark Tank. Developed to simplify the process of investing in cryptocurrencies, Bundil operates on a “round-up” concept, similar to apps that facilitate investments in traditional stocks.
Bundil connects with the user’s debit or credit card and monitors their spending habits. Bundil rounds up purchases to the nearest dollar and invests the spare change in cryptocurrencies like Bitcoin or Ethereum.
Bundil also features an intuitive, user-friendly interface that makes it easy for beginners to navigate the world of crypto investment. It offers multiple investment strategies to suit varying risk appetites and objectives.
Users can choose to invest their round-ups immediately or accumulate them and invest at a later date. Bundil’s simplicity is one of the main reasons it is such a popular choice.
Bundil can be an excellent starting point for anyone interested in cryptocurrency but intimidated by its complexities or risks.
| Company Name | Bundil |
| Entrepreneur | Dmitri Love |
| Product | A cryptocurrency investing app that allows users to invest spare change from everyday purchases |
| Investment Asking For | $100,000 for 10% equity in Bundil |
| Final Deal | $100,000 for 50% equity in Bundil |
| Shark | Kevin O’Leary |
| Episode | Season 10, Episode 3 |
| Business Status | In Business |
| Website | Bundil Website |
| Net Worth | $1.5 million |
What Is Bundil?
Bundil is a platform that allows you to invest your spare change into Bitcoin and other cryptocurrencies. It was designed to make investing in cryptocurrencies easy and accessible for everybody, regardless of their financial knowledge or expertise.
Bundil is an investment platform that enables users to invest their spare change in various cryptocurrencies automatically. Bundil will round up your transaction to the nearest dollar and invest the difference in your chosen cryptocurrency when you purchase with a linked credit or debit card.
Bundil is a tool designed to simplify and democratize cryptocurrency investing by making it an automatic part of your everyday spending.
Bundil is an application that simplifies cryptocurrency investing by automatically investing your spare change from daily purchases into cryptocurrency.
Who Is The Founder Of Bundil?
Dmitri Love, a software developer with a knack for innovation, founded Bundil. Before establishing Bundil, Love had an extensive background in the tech industry, specifically in web development and software engineering.
His technical skills and interest in finance were instrumental in bringing the Bundil platform to life.
Dmitri Love got the idea for Bundil after helping his friends and family invest in cryptocurrencies. He noticed that while many people were interested in investing, they found the process complex and intimidating.
This became especially apparent when his mother, wishing to invest in Bitcoin, struggled with the technical aspects of purchasing and managing cryptocurrencies.
To solve this problem, Love devised a simple solution to make cryptocurrency investment as easy as spending money on everyday items. This idea eventually culminated in the development of Bundil, an application that rounds up change from everyday purchases and invests it in cryptocurrency.
Before its appearance on Shark Tank, Bundil was already functioning and had a base of users. However, it was primarily known within certain niche circles and hadn’t yet broken into the mainstream.
Love saw an opportunity in Shark Tank to present his innovative product to a wider audience and attract investment to scale the platform.
His ultimate goal was to democratize access to cryptocurrency investment, and a successful pitch on Shark Tank was a crucial step toward achieving that objective.
How Was The Shark Tank Pitch Of Bundil?
The Shark Tank pitch for Bundil by its founder, Dmitri Love, was quite an event. Dmitri approached the sharks seeking an investment of $100,000 in exchange for a 10% stake in his company, valuing Bundil at $1 million.
Though Dmitri was excited about his presentation, he stumbled several times, which was thankfully met with encouragement from the sharks.
The sharks, led by Lori, asked questions ranging from understanding cryptocurrency to what Bundil-supported coins are.
Dmitri provided comprehensive responses, including explaining that the app supported Bitcoin, Ethereum, and Litecoin and outlining the company’s revenue model, which consisted of customer subscription fees.
Kevin O’Leary expressed concern about the competition and sustainability of the app, questioning how Dmitri planned to acquire customers at a cost lower than their lifetime value.
Dmitri explained his marketing strategy, which primarily involved social media marketing, and revealed an acquisition rate of $2.77 per user based on initial marketing spend.
However, the panel of sharks had mixed opinions about Bundil. Lori, Daymond John, and Mark Cuban opted out, citing reasons ranging from skepticism about cryptocurrency’s future to conflicts with existing investments.
Matt Higgins, while expressing concerns about the value of cryptocurrencies, suggested partnering with token exchanges.
Ultimately, it was Kevin O’Leary who expressed interest in Bundil. Citing his expertise in the area, he offered $100,000 for a substantial 50% stake in the company, justifying the high percentage with the argument that customer acquisition costs were typically underestimated.
Dmitri asked Kevin if he would be committed to investing more money if needed, to which Kevin agreed.
The negotiations resulted in Dmitri accepting Kevin’s offer. Post Shark Tank, Bundil has seen progress in product development and partnerships. It successfully launched its Android, iOS, and web apps, partnering with several major banks and integrating with Coinbase.
Despite a lower rating on the Android platform, it has performed well on the Apple Store, although its annual revenue is still below $1,000,000 as of 2023.
What Happened To Bundil After Shark Tank?
After securing an investment from Kevin O’Leary on Shark Tank, Bundil experienced notable progress. The company successfully launched its planned Android, iOS, and web applications.
Bundil expanded its reach to a larger audience by creating these multiple channels, ensuring its platform could be accessed from any device at any time.
Bundil also partnered with various banks, including Wells Fargo, Citi, Bank of America, and Chase. These partnerships added credibility to Bundil and facilitated seamless user transactions, enhancing the overall customer experience.
Moreover, Bundil was integrated with Coinbase, a well-known digital currency exchange, making it easier for cryptocurrency enthusiasts to use.
However, these advancements came with their own set of challenges. The integration with Coinbase made the platform more complex for first-time users, presenting a hurdle in attracting novices to crypto investment.
In terms of market reception, Bundil’s performance varied across different platforms. The Android version saw over 1000 downloads but received a below-average rating of 2.6 out of 5. On the contrary, the iOS version was more successful, securing a 4.0 out of 5 rating.
As of 2023, the company has been actively seeking to expand its team, with open positions for developers and designers, indicating an intention to improve and expand the platform’s capabilities.
Despite its annual revenue falling under $1,000,000 and facing competition from other apps, Bundil has established a secure market position.
While the journey post Shark Tank has had its ups and downs, Bundil’s progress showcases the company’s resilience and commitment to making cryptocurrency investment accessible to everyone.
Bundil Shark Tank Update
After appearing on Shark Tank, Bundil, the innovative app developed by Dmitri Love, made significant strides in its business and product development. During its pitch on the show, Bundil sought a $100,000 investment for a 10% stake in the company.
The app’s concept involved enabling users to invest in cryptocurrencies using spare change from their daily purchases. Bundil supported popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin and generated revenue through subscription fees.
Following the show, Bundil secured an investment deal with Kevin O’Leary, who offered $100,000 for a more significant 50% equity stake in the company. This allowed Bundil to receive the necessary funds to develop further and expand its platform.
After securing the investment, Bundil successfully launched Android, iOS, and web versions of its app, making it accessible to a wider audience across different devices.
The company forged valuable partnerships with major banks, including Wells Fargo, Citi, Bank of America, and Chase, enhancing the app’s usability and user experience.
Bundil integrated with Coinbase, a popular digital currency exchange, further streamlining the process for experienced cryptocurrency users.
Customer reviews of the app varied, with the Android version receiving a 2.6-star rating, while the iOS version garnered a higher rating of 4.0 stars. Despite some mixed reception, Bundil maintained a strong position in the cryptocurrency market.
Bundil faced several challenges, including acquiring customers. Dmitri Love’s primary strategy involved social media marketing, which raised concerns among the sharks due to its potential costliness. To address this, Kevin O’Leary’s involvement aimed to improve the app’s customer acquisition strategy and overall success.
As of 2023, Bundil’s annual revenue remained below $1,000,000. However, the company continued to be fully developed and offered a user-friendly interface for easy cryptocurrency investment.
Users could round off transactions to the nearest dollar, making investments effortless. Moreover, the app allowed manual investments of up to $50,000 and permitted users to withdraw profits at any time, offering flexibility and convenience to its users.
Our research shows that Bundil is still in business. Bundil’s journey after Shark Tank demonstrated progress and growth in cryptocurrency investment despite facing competition and challenges.
The app’s concept and user-friendly approach allowed it to secure a secure position in the market, making it an appealing choice for those interested in dipping their toes into cryptocurrency investment using spare change.
In conclusion, Bundil is still operational and actively engaging in cryptocurrency investment, striving to make cryptocurrencies accessible and user-friendly.
What Is the Net Worth Of Bundil?
According to our research, the net worth of Bundil is estimated to be $1.5 million. The valuation of Bundil was $200,000 after securing an investment from Kevin O’Leary on Shark Tank.
