Startup Weekend’s Fundle presses on

Earlier this week, I saw a tweet that Fundle, a startup building an app to split payments amongst friends for things like hotel rooms or wedding gifts, had applied to PayPal for access to their production API in order to “work w/ real money.” Interested to see how they had moved forward since their idea…

Formed at Startup Weekend Des Moines, Fundle is still going strong. The team consists of (front row, from left): Rob Jensen, Shannon Thomas, Miles Matthias and Andrew Kirpalani; and (back row) Mike Naughton. Photo from fundle.co.

Earlier this week, I saw a tweet that Fundle, a startup building an app to split payments amongst friends for things like hotel rooms or wedding gifts, had applied to PayPal for access to their production API in order to “work w/ real money.”

Interested to see how they had moved forward since their idea emerged from the latest Startup Weekend Des Moines, I reached out to Fundle CEO Shannon Thomas via email to learn about their progress.

Silicon Prairie News: What’s new in the world of Fundle?

Shannon Thomas: In a word: refinement.

Fundle is an idea that can be executed in countless ways, which is beautiful … and somewhat daunting. Because of that, a lot of focus has been put into paring the idea down to bare bones in order to answer a few key questions: What is the product at the heart of Fundle? What is the absolute minimum we need in order to launch with version 1?

Previously, we had been pursuing primarily one API but realized that it was taking too long to make significant headway. As a result, we’ve shifted focus so the first beta testers are using PayPal as the method of payment, with current work on other methods (like Amazon Payments and Dwolla) happening on the development side rather than publicly.

We’ve refined our priorities, our team structure, the problems Fundle solves and how Fundle solves them. It’s been an interesting three months as we have made key (and some tough) decisions that structure the direction of this endeavor.

A June 15 tweet indicated recent progress Fundle has made. Screenshot from twitter.com/fundleco

SPN: How has the idea/company evolved since the end of Startup Weekend?

ST: Fundle (has) undergone quite a few changes since Startup Weekend. Specifically:

  • The idea has become even stronger. We’ve honed what it is that we do and why we do it.
  • The team has morphed. We all knew that was a possibility; we’re fortunate that our team’s transition was relatively seamless. Although it took time to get to where we are as a team, that time was necessary in order to create the right dynamic for the long-term. (You can read about the current team members on our blog).
  • Our internal and external communication continues to transform. Finding how to effectively manage and work within a remote team was challenging, educational and so absolutely integral to our ability to make headway.

I love that through all the change we’ve maintained the core values of what we want from Fundle, primarily because it was formed in order to solve a problem. People cannot easily buy things together and we’re working to fix that.

Josh Cramer (of Cramer Dev) gave me some great advice pretty early on that has provided incredible perspective. He said that if we maintain the mindset that we are willing to do whatever we need to help people buy things together well, then we’ll come up with a product – and from that product will come success. Amidst constant change, this is a grounding motivation.

What sort of interest are you receiving on the idea?

We’re soliciting and garnering feedback in three primary ways:

  • Beta testers: Although this is a small group right now, these folks have been integral particularly in honing the development side of the project. We’ll be expanding this group soon!
  • Potential users: There have been questions in regards to payment methods and the ease of creating a Fundle. Again we feel incredibly fortunate that Fundle seems to resonate with most everyone we (to whom) speak. Through this group we’re trying to better understand any potential barriers to use.
  • General “whaddya think” inquiries: Periodically we’ll poll a random smattering of people to figure out if the website makes sense, if we’re clearly communicating the call to action, etc. Most seem receptive to the idea and interested in helping to make it a success. Much of what we seem to be doing in these three areas is akin to throwing a bunch of spaghetti at the wall to see what sticks. Finding the sweet spot of what resonates with users is an art, not a science.

Do you have a target date for launch?

We fully expect to have version 1 up and running by the end of the summer. We have set Sept. 1 as a drop-dead, go/no-go date as a backup. If we can’t make it happen by then, we shouldn’t be doing this. That being said, however, I’m confident that Fundle will come to fruition so others can easily buy things together.

This story is part of the AIM Archive

This story is part of the AIM Institute Archive on Silicon Prairie News. AIM gifted SPN to the Nebraska Journalism Trust in January 2023. Learn more about SPN’s origin »

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