Dmitri Love wants to make a bundle with Bundil, his rounding/investing app, in Shark Tank episode 1002. Bundil is a lot like other spending/investing apps. There are a lot out there and they all work pretty much the same. Link a credit or debit card to the app. When you purchase something, the app rounds up the cents to invest in stocks, pay down student loan debt, or just put the extra in a bank account. These apps work like a digital change jar and enable you to manipulate that change jar more easily than lugging a real on to the bank.
Bundil works like these other apps but with a hook: you round-up your change to invest in Cryptocurrencies. For those of you that don't know, Cryptocurrencies are, according to Webster: any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent counterfeiting and fraudulent transactions.
Bitcoin is the most well-known Cryptocurrency. It surfaced in 2009 as a method to let people conduct business online without a lot of regulatory interference. It was worthless when it was first issued. Last December it hit an all time high of $17,549.67. Since then it's dropped to around $6600.
Bundil handles Bitcoin, plus Ethereum, Litecoin, and BitcoinCash. Users choose how much they want to invest or round-up per purchase. For example if you rounded up 50 cents per transaction three times a day, you'd invest $45 per month. Bundil charges around $2 per month for the services. The app is only available for iPhone now, but an Android version is in the works. Love likely wants a Shark to help him roll out development.
Will a Shark bite on this?
Bundil Company Information
Posts about Bundil on Shark Tank Blog
Bundil Shark Tank Recap
Dmitri will pitch the panel of five Sharks on the business and its prospects for growth. He'll need to convince Mark Cuban, Kevin O’Leary, Lori Greiner, Daymond John and guest Shark Matt Higgins that the company is worthy of a Shark investment. A good business plan, good financials, and sales data will impress the Sharks, but he’ll need to show them HE is capable of running the company to “Shark standards." A full pitch re-cap on Bundil will be available on Shark Tank Blog once this episode airs.
Bundil Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on Bundil & Dmitri Love as more details become available.