Moneymie Chronicles: Problems from the battlefield

It’s quite common to hear repeat founders say they decided to work on a problem based on a problem they had while working on their former startup.

Not sure if I will be working on anything after Moneymie, so thought to share some problems I’ve seen/experienced so far while building Moneymie. These are worth innovating on.

• It’s still hard to move money to lots of countries even at the enterprise level. SWIFT is not really swift. Startups working with crypto and stablecoins rails will change this.
• The biggest challenge for cross-border plays is understanding different regulations, contexts and tools. There’s an opportunity for providing lessons that are about giving entrepreneurs a 1 hour run-through of sector/country.
• There’s an opportunity for startup lawyers to build expertise around different areas and advertise as such. Spaces include immigration, fintech, logistics, cross-border, non-profit, hr-tech, healthcare. There’s also an opportunity for accelerators to offer such programs.
• Only God knows how many DD/KYB forms I’ve filled. Someone should build a KYB aggregator and consent management system and make it win by having the right ecosystem attributes to make it easy for users to use and contribute in return. You can start with the US.
• ☝🏽This is also a challenge for investors in syndicates. There should be transferable KYC. Someone should do it and get acquired by Duns and Bradstreet. Hit me up so I can be part of your pre-pre-seed.