Christian Zimmerman, Qoins

What’s the inspiration behind Qoins? 

Being first generation Latin American, I was fortunate to be given the opportunity to go to college. Unfortunately, I also made some financial mistakes and took out personal loans and an overpriced car note. Six months after graduating from Georgia State University, I was trying to find a better way to manage my finances and make extra payments automatically, so I didn’t have to think about it. From there, I had the initial idea for Qoins. I thought “why can’t we flip this on its head, and focus the automation on paying down debt?”Pitching at Switchyards

Why do you think lack of financial literacy affects so many racial minority communities? 

I think it affects many minority communities because of the lack of normal upbringing many people have. Many come from immigrant families working many jobs to make ends meet, lacking trust in large institutions, and being denied access to financial education . These struggles reduce the amount of time put into actual discussions of financial literacy and making money work for you vs just trying to make it. 

As you learned more about debt, interest, credit and so forth yourself, what's one big misconception that was cleared up for you?

I learned that credit can be helpful if managed properly. I started using a credit card again after my wife and I bought a house and it had been a huge help in remodeling our home. However, the notion of borrowing money can make you fall into the trap extremely fast. That’s why I always recommend managing your credit cards like cash and paying them off in full every month. 

How did you meet your co-founder? How do you work together?

We met after we studied at Georgia State University. Nate and Christian for a Forbes shoot

I had just created the concept of Qoins and was looking for a co-founder. I went to a networking event, we hit it off really well, and the rest is history.  I am more the big picture thinker and he is much more methodical in the process and buildout of the product. 

How do you handle risk and competition?

I love competition. I am extremely competitive in just about everything I do. I have become more calculated when it comes to taking risks, but risk is exciting. If I don’t win the first time, it’s just a matter of time before I figure out the puzzle. 

What are the biggest challenges you’ve faced while launching your company?

Managing my physical and mental health. Right after leaving my job to start Qoins I got really sick and almost had to have open heart surgery. Having already had 2 open heart surgeries in my life (a condition I was born with), I wasn’t really worried about the surgery itself, but rather the timing. I got super depressed and felt like nothing was going my way. Luckily, I had an amazing support system (girlfriend, family, friends, co-founder) to help me get back on my feet and really put everything into perspective. After that I had a change in mindset and felt I could overcome any business challenge I was faced with. 

What do you think is the most important skill founders need to succeed?

I think the most important skills are grit and problem solving. If you think you can’t solve a problem then you’re probably right. But if you think you can solve that same problem then you’re probably right as well.

Have you learned anything new or surprising about yourself through this process?

I learned that the only person stopping me from achieving anything I want in life is myself. I also learned my previous outlook on life was blurred and my new outlook is much brighter, filled with infinite amounts of positive possibilities/opportunities. 

Why did you decide to raise from the crowd via Republic?

We always found Republic as a really cool way to raise capital, but from the other Winning the Fintech South Award side of the table, it always felt like you had to be really rich to invest in startups. This notion has changed a lot and we wanted our customers to feel empowered. Raising here lets them know that we care about helping them pay off debt and also about growing with them through their financial journey. 

What’s your team culture like? 

Our team feels like a family. We all support one another in and outside of work. One thing I really like is the transparency we have in our team— everyone feels like they are able to share their feedback and give input on the business. The Founders at Money 2020

What is your superpower?

My superpower is continuous learning. I work hard to get the results I am looking for. Whether it's doors I want opened, or goals I am looking to achieve, I will not stop learning about new approaches. 

What’s your kryptonite?

Early mornings. I am not a morning person at all. 

What do you like to do in your spare time? 

I like to find and research new musical artists and just study their development, lyricism, and how they build on their productions.

Are there any apps or gadgets that you can’t live without? 

My Apple Airpods Pro with this tool called Krisp are musts. I can listen to my music and also take calls on the go from anywhere without having the outside noise disrupting my meetings. 

If you could give yourself one piece of advice 5 years ago, what would it be?

I would have told myself to not let emotions get in the way of decision-making.

What’s the best piece of advice you’ve received?Christian taking working remotely to new heights

If you aren’t willing to sacrifice and do the things you don’t want to do in your job/life, then you will never be rewarded the things you do want out of that job/life.

Do you have a(ny) mentor(s)? If so, what have they taught you?

I have a couple mentors for different parts of my life. They have taught me that  I cannot do everything alone and that self-awareness is essential to continuous growth.