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Envelope

Y Combinator LogoS23
Active
fintech
consumer
neobank
ai
San Francisco
 
https://envelopebudgeting.com/

Banking with built-in budgeting

Envelope is a banking app with built-in budgeting. It's similar to Mint, Copilot, or Rocket Money, but our app issues you a checking account during onboarding so there's no syncing or flaky bank connections. We are structured to be the primary checking and savings account for our users. We (Josh and Katelyn) are married cofounders who previously worked on Apple Card and the Robinhood iOS app. We started Envelope because we were using clunky tools like the Chase app, spreadsheets, and Mint to run our family finances and realized we could do it better. In the future, you could go set up a Chase account for checking, E-Trade for investing, SoFi for savings, Ally for money market, Greenlight for kid cards, PLUS the Mint/YNAB/Rocket Money to glue it all together + budgeting, or you could just use Envelope. _Envelope Money is a financial technology company and is not a bank. Banking services provided by Pacific West Bank, Member FDIC. Your funds are FDIC insured up to $250,000 through Pacific West Bank, Member FDIC. The Envelope Money Visa® Debit Card is issued by Pacific West Bank, N.A. pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa cards are accepted._
Envelope
Founded:2022
Team Size:2
Location:San Francisco
Group Partner:Garry Tan
  

Active Founders

Katelyn Strobel, Founder

Cofounder/CEO at Envelope. Marketing consultant turned fintech junkie, passionate about personal finance and creating tools for consumers to spend less and save more.
Katelyn Strobel
Katelyn Strobel
Envelope
 

Josh Strobel, Founder

Technical cofounder & CTO at Envelope, an iOS banking app with built-in budgeting for individuals and families. Previously worked on the Robinhood and Twitter iOS apps. Other places I've been (internships) - Tesla (shop.tesla.com) - Microsoft (Edge Browser & Windows Server) - Adobe (Adobe Analytics)
Josh Strobel
Josh Strobel
Envelope
  

Company Launches

Envelope Money ✉️ Gamified wealth building through digital cash envelopes

TLDR We're a gamified consumer banking platform with built-in envelope budgeting and wealth management. We’ve processed over $20M in transactions, surpassed over $1.5M in active deposits, and reached break-even profitability in our closed alpha round.

PROBLEM

Saving, investing, and meeting wealth milestones are critical for good financial health, but are often boring or stress-inducing. It doesn’t pack the same dopamine punch as 2% cash back. This leaves us with a gaping disparity between the average total consumer debt of $101,915 and the 63 percent of Americans who don't have enough saved to cover a $500 financial setback.

We— @Josh Cockrell Strobel and @Katelyn Strobel— run a 75K+ subscriber YouTube channel, and have vlogged our personal finance journey as a couple in Silicon Valley. We were constantly getting asked which tools we recommended for managing our finances. At that point, we had tried everything and were frustrated with the existing solutions. We had nothing we could confidently recommend.

So, we decided to use our backgrounds in consumer fintech (Katelyn worked on marketing projects for Apple Card, Acorns, and Digit, and Josh worked as a programmer on the Robinhood & Twitter iOS apps) to create our ideal wealth management platform.

SOLUTION

We make good financial behavior fun, measurable, and addicting.

Through our banking partners*, our app employs an FDIC-insured checking account and Visa card to serve as the central hub of your finances, and our budgeting features and analytics gamify the experience by aligning you with your dream financial life. We facilitate all of this through a digital “cash” envelopes system, custom goals, and tailored analytics.

ASKS

  • Make a demo account in our iOS App. (And share feedback with us at admin@envelopemoney.com)
  • Join our founding beta round at www.envelopemoney.com. We are sending out 2K account invites this month!
  • Leave us a ⭐⭐⭐⭐⭐ review on the App Store.
  • Share this post!

*Banking services provided by Envelope Money, Inc.’s partner banks, Members FDIC. Card Services are issued by Envelope Money, Inc.’s partner banks, pursuant to a license from Visa.

YC Sign Photo

YC Sign Photo