In the latest episode of ABC’s ‘Shark Tank’ which aired on Sunday, October 21, the founder of Bundil, Dmitri Love, went live and presented before the audience the Bundil app.
‘Shark Tank’ is an American reality television series that invites budding entrepreneurs from around the world to pitch their business models to a panel of investors ‘sharks.’ And thereby, persuade them to invest money in their product/idea.
Dmitri Love went onto the show seeking $100,000 in exchange for a 10 percent stake in his company, Bundil. Kevin O’Leary offered him the requested sum, in exchange for a bulky 50 percent ownership of the startup.
Most of the other ‘sharks’ had concerns and dropped out: Lori Greiner wasn’t convinced about the idea of cryptocurrency in general; Mark Cuban had already invested in a comparable company; Daymond John didn’t like the volatility of the digital currency space; guest judge and CEO of RSE Ventures, Matt Higgins, also opted out.
No one else seemed interested in investing, so Love reluctantly accepted Leary’s offer saying “50 percent is quite a bit!”
On this, Daymond John said, “He doesn’t look too happy … He looks miserable.”
In his attempt to convey his business idea to Shark Tank’s judges and investors, Dmitri seemed to be a little nervous as he stumbled over his words. However, he managed to collect himself and was able to share the idea behind Bundil clearly.
In the show, Love also shared the story where and how the idea to set up Bundil came in.
What is Bundil?
Bundil is an Acorns-like service for cryptocurrency. It allows you to automatically invest your spare change from everyday credit or debit card purchases into bitcoin and other cryptos. Currently, Bundil offers transactions in Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The company’s website claims that more coins will soon be added.
Some other key features:
– Bundil is compatible with hundreds of banks, so you can securely link Bundil with your debit card or credit card account.
– Bundil rounds up transactions from your regular spending to the nearest dollar and invests in the crypto you choose.
– With Bundil, you can track your portfolio growth, and manage your currencies all without leaving the app.
– You can grow your portfolio as fast as you like. Choose standard rounding, $0.50 for every transaction, or $1.00 for every
– You can even snooze investing at any time. While you are snoozed, your purchases will not be used for rounding/investment.
– You can buy an extra $5 or $50,000 or withdraw your coin at any time.
– Bundil doesn’t hold any of your funds or cryptocurrency. It uses Coinbase – the safest, most secure, and popular exchange to handle
all of your transactions.
– Bundil’s pricing plans start as little as $2 per month!
– It is super easy to use even for newbies.
Love clarified that he has developed Bundil as an answer to friends and family who repeatedly pestered him about the uncertainties that surround investments in cryptocurrency.