In this 153rd episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Sara Green Broderson from Canaree, an online projection tool that holds the hands of startups by building their financial model and providing financial advice!
Episode Highlights:
- 0:36 – Sara Green Broderson introduces Canaree.
- 1:38 – What is Sara’s history before and with Canaree?
- 4:31 – How does the Canaree end-user experience look from start to finish?
- 6:06 – Has Canaree involved API connections to accounting software or data aggregation?
- 6:50 – Jason vents about his frustration with Canada’s lack of an open–banking policy.
- 7:46 – What drives fundraising? Choice or demand?
- 10:02 – What are the plans for further development of Canaree?
- 11:17 – Where does Canaree get its current benchmark data?
- 12:03 – What is the early feedback from Canaree’s clients?
- 14:09 – Jason and Sara discuss what it’s like being a female founder in the Fintech industry.
- 22:01 – How would Sara change the financial industry as a whole?
- 23:10 – What has been the biggest challenge for Canaree during its growth?
- 24:40 – Why does Sara get out of bed every morning?
3 Key Points
- Less than 10% of Excel’s functionalities are commonly utilized, making it an ineffective tool to make financial projections and giving way to companies like Canaree.
- One of the biggest pain points for startups is not having their finances planned out, thus driving the need for fundraising and projections.
- Though there is a lack of gender diversity amongst female founders in the Fintech industry, Sara has found that being one of the few has been a positive experience and the industry is moving in the right direction.
Tweetable Quotes:
- “The time to model out your business is now because you’re probably facing unprecedented financial stress.” – Jason Pereira
- “Anyone would think that when you start a company the first thing you would do is sit down and make a budget or a plan for your cost, but people don’t.” – Sara Green Broderson
- “When we started out we thought it would be founders and non–finance people coming on board, but we’re actually seeing quite a lot of finance individuals signing up.” – Sara Green Broderson
- “Never discount simplicity and the value of it even to the most complex users.” – Jason Pereira
- “A worthy cause, entrepreneurship is the lifeblood of any economy.” – Jason Pereira
Resources Mentioned:
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