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VWV Volumes #21: Our Investment in Quiltt
Van Wickle Ventures is excited to announce that we have finalized an investment into our very first fintech company, Quiltt! Quiltt offers turnkey consumer fintech infrastructure so anyone can launch innovative financial experiences. The venture, founded by Ruben Izmailyan, Brown ‘09, provides an API that aggregates several fintech services.
Quiltt’s Value Proposition:
An increasing number of companies require fintech features, which are usually incorporated using public Application Programming Interfaces(APIs). For instance, an e-commerce website may use Stripe’s API to interact with a shopper’s bank account. While the API abstracts away many technical details, the process to determine the required data, the necessary data formatting, and success of a transaction is all too complex– even for engineers. Furthermore, companies often need to repeat this API integration process for multiple financial services. Quiltt acts as a hub that aggregates fintech APIs into single integration.
A16Z said it first, but we most certainly agree: everything is fintech. Quiltt is providing a highly useful and highly usable platform that will empower users to easily and seamlessly build consumer fintech products. Not only is there a huge addressable market of people who are looking to either create fintech products or integrate fintech services into their existing products, but we also believe strongly in the founder. Ruben is basically a self-taught coder with a passion for building and a diversity of professional experience as a previous founder. He is a strong communicator and leader with an ability to see the big picture, grow the team strategically, and execute on his vision. Finally, Ruben is entering the market early, thereby establishing the value of Quiltt before many other competitors are able to get a hold on the market. We are excited to back Ruben and Quiltt and to see them grow into the fintech giant they are destined to be!