Throwback Thursday: Another Brick in the Wall of Failed Fintechs: Wingocard Edition
co-founder and CEO
Experienced tech startup veteran with 20 years of experience in the industry. Successful entrepreneur with 5 exits in social web businesses and expertise in various aspects of running a startup. Also an accomplished angel investor with investments in companies such as PasswordBox, Frank & Oak, and Unito. Passionate about bringing together talented teams to create value for users and customers.
Co-Founder and Growth Product Lead
Serial entrepreneur with 20+ years of experience in tech industry driving growth through product-led strategies in SaaS, mobile apps, and emerging markets. Skilled in product planning, development, data analytics, and team leadership. Specializes in growth product management and has a proven track record in driving results through data-driven experiments.
Co-Founder and CTO
A senior software engineering manager with over 20 years of experience in the tech industry. Currently working at GitHub as a permanent full-time employee and founder of Luna IT Consulting. Previously co-founded Wingocard and worked at InVision as an engineering manager. Experienced in developing scalable platforms and APIs, implementing algorithms and data access patterns, and working with various programming languages. Specialized in REST API design and development.
What problem did Wingocard set out to solve:
Financial illiteracy was the problem Wingocard aimed to solve. The platform provided teens with the tools and resources they needed to better understand personal finance and make informed decisions about their money. This included features such as budgeting tools, savings goals, and educational resources.
Timeline of events:
Forced to shut down in May 2022
With a seed funding round of $1.7 million led by prominent venture capital firms and supported by individual investors, Wingocard was poised for success and had plans to use the funding for product development and market expansion.
What worked and what didn't:
Good customer service availability, with representatives responding to inquiries via chat and email over the weekend.
What Didn’t Work:
Conclusion and takeaway for Startup founders: