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Jelli’s deadline was November 16, 2021

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Jelli

Neobank with real-time budgeting, a fun social platform, and cash back rewards
Proprietary Technology Fintech B2C Finance Apps
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$382,010
Raised
918
Investors
Successfully funded and closed on November 16, 2021.
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Closed on November 16, 2021. Information may not be up-to-date. Campaign closed on November 16, 2021. Information displayed may not be up-to-date.
Problem Solution Product Coming soon Traction Customers Biz. model Market Competition Vision and strategy Funding Founders
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Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Jelli Finance Co.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Jelli Crowd SAFE Jelli Crowd SAFE.docx Jelli Finance Form C.pdf
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Hear from some of the 918 investors in Jelli


Show more

Highlights


  • Integrated banking app with instant budgeting, updates, and notifications
  • Cash back rewards with JelliCASH, powered by DOSH
  • Social features to share money and expenses with friends & family
  • Surcharge-free ATM network
  • $60M in incentives from supplier partners
  • Social media reach of 500k+ through influencers and partnerships
  • Targeting 3M users and $365M revenue over next 5 years

Problem


Banking is Stuck in the Past

Every major bank has an app—but these days, that’s the bare minimum. Most banking apps are built around limited ideas that are decades old, making them feel like an afterthought. Bank budgeting tools are extremely limited. They only report on past spending, and don't help you budget in real-time.

Specialized budgeting apps may be more flexible, but they require legwork, and aren’t connected directly to your bank accounts. They are inconvenient and slow to receive data & updates.

And forget cash back rewards, unless you want to get a credit card which charges interest and fees. 

People want more...

Solution


Say Hello to Jelli...

BUDGET | CONNECT | CASHBACK

Available in the App Store & Google Play


Jelli provides an integrated, easy-to-use banking and budgeting app—with a lot of great perks! We make it easy to track different categories of spending and pro-actively stay on budget... Think "Digital Envelope System", but much, much more...

Budget

Budgeting with Jelli can be broken down into 2 simple concepts: segmenting your money (setting funds aside), and assigning your purchases (creating a pool).

Putting those concepts into action is even simpler:

  • Load funds to your Jelli account through direct deposit, Venmo, or bank transfer. 
  • Create your JelliJARS (as many as you need) for budgeting, saving and sharing funds.
  • Set your monthly budgets for each Jar—Jelli remembers your budgeting preferences, and automatically distributes funds next time money is deposited.

But budgeting isn't Jelli's only jam...

Connect

  • Share your JelliJARS with others on Jelli! Great for group-funding projects, events, and splitting expenses like rent. 
  • Follow your friends’ jars to contribute, comment, and have fun!!! 

Cashback

  • Receive instant JelliCASH Rewards— merchant-funded rewards on qualifying purchases made with your JelliCARD from hundreds of local and national brands (powered by DOSH).
  • Redeem your rewards directly into your Jelli account.

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Product


Why so Sweet?


With Jelli, you can:

  • Get instant notifications, assign purchases, and make deposits to jars in real time.

  • Use a virtual JelliCARD for online purchases and with ApplePay or GooglePay.

  • Use ATMs surcharge-free at thousands of locations.

  • Rest easy knowing Jelli account funds are FDIC insured and protected by Visa's Zero Liability Policy against fraud.

  • Family Banking—parents can get secondary accounts for their kids.
  • Pay friends without needing to set up a jar.

  • Get “Social” with public jars, perfect for accepting donations to your charity fundraiser.

  • Mail a check—set it up once and Jelli will send it each month.

  • Customize your JelliJARS to match your unique personality.

The JelliCARD is issued by Metropolitan Commercial Bank, Member FDIC, pursuant to a license from Visa USA, Inc. "Metropolitan Commercial Bank" and "Metropolitan" are registered trademarks of Metropolitan Commercial Bank © 2014. Use of the JelliCARD is subject to the terms and conditions of the applicable Cardholder Agreement and fee schedule.

Coming soon


What's Coming

Jelli will introduce JelliCRYPTO, a feature which provides users the ability to access both their fiat and cryptocurrencies from the same account. Jelli is partnering with Unbanked to offer Jelli account holders the ability to store their cryptocurrencies in JelliJARs and instantly convert them to dollars to make purchases with their JelliCARD. Jelli users will be able to send fiat or cryptocurrency to other Jelli users. They can also add fiat or cryptocurrency to jars shared with them.

Above features are subject to bank approval.

Traction


Securing Vital Partnerships



We’ve invested over $250K in development, technology, partnerships and integrations with leading digital and financial services.

Our agreements with our service providers are worth nearly $60M in incentives over the next 5 years based on our current projections.

Our JelliCASH program is made possible through our partnership with DOSH, and provides us with a share of the rewards as an auxiliary source of revenue.

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Signups = 7,200

Purchases = $4.5M

Loads = $9.0M

Revenue = $125k


Customers


A New Generation of Banking Customers

Jelli is designed for banking in the social media age. Our “Brand Enthusiasts” include popular finance and lifestyle influencers.


What Millennials and Gen Z want from banking & budgeting:

  • Simplicity: 78% rarely or never make spreadsheets for budgeting.

  • Integration: 2/3 want digital tools from their bank with real-time data.

  • Fun: Gamification would get 65% to stay more engaged with finances.

  • Cashback rewards: 70%+ will spend more if they know they will get cash back.

Source


Additional Market Segment - Jelli for Teens

There are more teenagers working now than there have been in over a decade. We are partnering with My Tech High to teach financial literacy and promote Jelli to 20K+ students and their parents—expected to double year-over-year.

  • Parents can get secondary Jelli accounts for their kids.
  • Jelli fits with teens while other banking apps for minors are designed for kids with heavy parental involvement and oversight.
  • Jelli is the perfect solution for High Schoolers wanting a more grown-up way to independently manage their money.
  • Upon turning 18 years old, teens will stay with Jelli rather than opting to sign up for a traditional bank account.

Business model


Two-Tiered Revenue Model


Jelli benefits from two complementary revenue streams:

  • Interchange and fees on card purchases.

  • JelliCASH merchant rewards revenue share.


Revenue projections

We are implementing an aggressive marketing plan to meet our goal of 3M+ users in 5 years. We’re positioned to drive this growth through multiple channels:

  • Influencers - leverage followers.

  • Partnerships - distribution channels.

  • Customer referrals - invite friends & family.

  • Viral growth - instantly share Jars to social.

  • Digital - promotions and awareness.


Market


$200B Projected Market by 2024

Based on the Nilson Report, card payments in the US are expected to reach $10.6T in 2024. At a conservative average interchange rate of 1.5%, that equates to $160B in Interchange Revenue alone.

Taking the Jelli model into account, there’s an additional $40B+ in potential fee revenue—pushing the projected market size in the US to over $200B in revenue by 2024.

Target demographics

Millennials (ages 24-40): 72M US

Key Prime Prospect

  1. Hip, social, modern, aspirational

  2. Salary $50k to $150k

  3. Looking for a better way to bank and budget

Older Gen Zers (ages 14-24): 34M US

Feeder Prime Prospect

  1. Seeking independence and uniqueness

  2. Aspirational

  3. Desire financial stability in their future 

Total Target: 108M US

Competition


No One Does What We Do



  • Jelli’s banking & budgeting is integrated, so Jelli has access to real-time transaction data for instant allocation of purchases.

  • Users don’t have to transfer money between accounts—it’s all automated with Jelli.

  • JelliJARS make budgeting easy—your paycheck can be automatically distributed to your various jars on payday.

  • Jelli supports proactive budgeting that helps you control your spending, not just report on it after the fact.

  • Jelli has the first ever social finance platform for staying connected with friends and family on money-sharing matters.

  • Cashback with JelliCASH rewards makes Jelli that much sweeter.

Vision and strategy


Path to Profitability and Exit

We’ve analyzed comparable businesses to get a sense for the range of valuations in the debit card and digital finance industries.


References for charts above: Chime - RushCard - Wells Fargo - Green Dot - Varo - Simple - Netspend - Dave


Over the next 5 years we will continue to scale our customer base and leverage new and existing partnerships, with the goal of increased profitability and an eventual exit.

Jelli Financials

Jelli P&L - raising $2M

Funding


$258K raised

Jelli investors include:

  • $13,250 friends & family
  • $150,000 seed investment
  • $95,000 service partners

Founders


Mission

At Jelli, we believe personal finance should connect people, not separate them. We believe in taking control of your money, and using it for whatever makes your life sweet!

We were founded on the mission to make banking sweet by offering easy-to-use real-time budgeting, cashback rewards, and a social platform for connecting on all money-sharing matters. 

Use Jelli to create personal budgets, share money with friends and family, and fund the causes and projects you believe in.

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Deal terms


Valuation cap

$8,000,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Discount

0%

If a trigger event for Jelli occurs, the discount provision gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.

Minimum investment

$100

The smallest investment amount that Jelli is accepting.
Learn more

Funding goal

$1.07M

The maximum amount the offering can raise is $1.07M.
Learn more

Deadline
Jelli needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Jelli Finance Co.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Jelli Crowd SAFE Jelli Crowd SAFE.docx Jelli Finance Form C.pdf

About Jelli

Legal Name
Jelli Finance Co.
Founded
Sep 2016
Form
Delaware Corporation
Employees
3
Website
jelli.us
Social Media
Headquarters
Google Map location of of Jelli
4454 Cambridge Drive , Cedar Hills, UT
Headquarters
4454 Cambridge Drive, Cedar Hills, UT, United States 84062

Jelli Team
Everyone helping build Jelli, not limited to employees

Profile picture of David Smith
David Smith
Founder & CEO
David has over 20 years leadership experience for established & startup companies in Fintech (Green Dot/MoneyCard) and Consumer Products - an expert in aligning business’ core competencies, brand messaging, and consumer desires to drive growth.
Profile picture of Ben Harper
Ben Harper
Founder & CTO
Ben has over 20 years of experience in technology and software development. He has invested 10 years in building Fintech startups from the ground up, from financial processing platform to mobile app development, and everything in between.
Profile picture of Tom Curitore
Tom Curitore
Founder & CCO
With over 17 years creative experience in industries ranging from Fashion to Finance, Tom brings expertise in creating emotional brands that resonate with consumers, and disruptive campaigns that capture people’s attention in a crowded field.
Profile picture of Jason Miles
Jason Miles
Jelli Advisor
Owner of Payment Solutions Consultants, Former Fintech Executive and Chief Product Officer at UniRush, 20+ years experience in the financial services industry.
Profile picture of Bob Zeidman
Bob Zeidman
Jelli Advisor
Bob Zeidman is the president of Zeidman Consulting, a premiere contract research and development firm in Silicon Valley and president of Software Analysis and Forensic Engineering Corporation.
Profile picture of Audrey & Vera
Audrey & Vera
Jelli Enthusiasts, Lifestyle Bloggers - 350K Followers www.audreyandvera.com
Profile picture of The "Budget Queen"
The "Budget Queen"
Jelli Enthusiast, Budgeting Blogger - 100K Followers www.budgetqueenblog.com
Profile picture of Shannon Clark
Shannon Clark
Jelli Enthusiast, Financial Coach - 50K Followers www.growingslower.com
Profile picture of Air Zy
Air Zy
Jelli Enthusiast, Food Blogger - 12.5K Followers @outwithair_foodie_nyc
Profile picture of Christina Robinson
Christina Robinson
Jelli Enthusiast, Planning Lifestyle Blogger -10K Followers www.christinalovesplanning.com
Profile picture of Sam Titchenal
Sam Titchenal
Jelli Enthusiast, Content Creator, Videographer, Resident Gen Z-er
Profile picture of Kaleb Easterbrooks
Kaleb Easterbrooks
Jelli Enthusiast, Content Creator, Videographer, Resident Gen Z-er
Profile picture of Tate Smith
Tate Smith
Head of Customer Service, Jelli Expert, Quality Control, Resident Millennial
10 more team members
David Smith
Founder & CEO
Audrey & Vera
Jelli Enthusiasts, Lifestyle Bloggers - 350K Followers www.audreyandvera.com
The "Budget Queen"
Jelli Enthusiast, Budgeting Blogger - 100K Followers www.budgetqueenblog.com
Ben Harper
Founder & CTO
Tom Curitore
Founder & CCO
Shannon Clark
Jelli Enthusiast, Financial Coach - 50K Followers www.growingslower.com
Air Zy
Jelli Enthusiast, Food Blogger - 12.5K Followers @outwithair_foodie_nyc
Christina Robinson
Jelli Enthusiast, Planning Lifestyle Blogger -10K Followers www.christinalovesplanning.com
Sam Titchenal
Jelli Enthusiast, Content Creator, Videographer, Resident Gen Z-er
Kaleb Easterbrooks
Jelli Enthusiast, Content Creator, Videographer, Resident Gen Z-er
Tate Smith
Head of Customer Service, Jelli Expert, Quality Control, Resident Millennial
Jason Miles
Jelli Advisor
Bob Zeidman
Jelli Advisor

Press

Utah-based app Jelli puts a modern twist on saving with jars
KSTU
·
Jul 29, 2021

CEDAR HILLS, Utah - Way before smartphones existed people would save their spare change in jars, but now more payment met...

GlobalFintechSeries Interview with David R. Smith at Jelli
GlobalFinTechSeries GlobalFinTechSeries
·
Oct 2, 2020

Great innovation even in fintech won't rise to the top without adequate investment funding says David Smith, Chief Execut...

How Are Neobanks Changing The Face Of Banking Today?
GlobalFinTechSeries GlobalFinTechSeries
·
Sep 23, 2020

The inequality gap in America continues to grow at a staggering rate. The CEO-to-worker compensation ratio was 21-to-1 in...

Jelli - A Sweet Way to Bank
Silicon Slopes Silicon Slopes
·
Sep 21, 2020

The cash-envelope system of budgeting is one of the most well-known and widely used budgeting methods - at least it used ...

Cardlytics on LinkedIn: Neobanks Drive Loyalty Through Cu...
Linkedin

Market growth for #neobanks is expected to hit $394.6 billion by 2026, but with unique challenges, these #banks must quic...

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Jelli

Jelli successfully raised $382,011 from 918 investors on November 16, 2021
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Emiliano, Vijay Kumar, Mohammad, ARMAND, Michael, and 913 others invested. 111 Reviews
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