How We Got Funded: Betterment
Article by Robin Schatz
Jon Stein and Eli Broverman are co-founders of Betterment, a personal finance website geared toward the Facebook generation. Landing venture capital was always part of the pair’s plan. But like all start-up entrepreneurs, Stein and Broverman had to learn a lot on the fly. The most important lesson: Take lots of meetings. “You always want to be out there having conversations and explaining the business,” Stein says. “You learn from putting pen to paper, from sharing ideas with investors.” What happens next is key. “You take the ideas back to the team,” Stein says. “They digest it and teach you something new–that you can use in the next pitch.” Below, we track Betterment’s four-year quest for funding.