OpenPitch provides fintech solution for startup founders and funders

Startup founders Nishant Deshpande and Bryan Stave launched Investii, an app that encouraged personal financial responsibility, in 2020.

In 2023, the company pivoted away from personal finance and into the world it is immersed in, startup funding and financials. The company changed its name to OpenPitch and developed a fintech solution that works for both startup founders and funders.

“OpenPitch is a platform to help founders and their stakeholders collaborate efficiently and build stronger relationships. It’s all geared around the idea of cash basis financial health,” Stave, the company COO explained.

“The way that it works is a founder connects their bank accounts through Plaid,” Stave continued. “OpenPitch receives read-only transactional data from the connected accounts and then we have an algorithm that goes through and categorizes transactions.”

The software reports numbers for funding, revenue, inter-account transfer, non-operating revenue and more. “It easily breaks down the cash-basis financial health of the company. It looks at your runway, burn rate, profit margin, net income, all of it,” Stave said.

“Founders can connect with as many of their stakeholders as they want. One stakeholder can have an infinite number of companies attached to them. It’s a secure, efficient way to get better communication between parties. If we can get founders working with their stakeholders and give them a greater understanding of the cash health of their company, more companies will succeed.”

For founders, the tool is free. Stakeholders pay a usage-based subscription fee. OpenPitch allows investors to see all of their investments through a single digital dashboard.

“OpenPitch was built for founders,” Stave said. “We understand that the update process can be a slog. It can feel like additional work on what is already a very full plate at all times. We want to work with founders who are invested in seeing a solution.”

Beyond the financial data that is tracked through banking records, founders are also able to track key performance indicators.

“Essentially, founders can create and track whatever metrics are the most important to their business,” Stave explained. “We have a really good template that we implemented into our software. Founders can track user growth and whatever else they track. We want to bring both the financial source of truth and the operational source of truth together in this one platform. The tool helps the relationship (between founder and investor) operate quickly and effectively. I think our big differentiator is our one-to-many architecture and the fact that both sides can be the growth driver.”

Currently, 80 founders are using OpenPitch, as is powerhouse investor gener8tor.

“We know this is an industry-wide problem and there is not a solution at scale. I think that the way we’re approaching it, there’s no guarantee that it does solve the problem at scale, but if this approach doesn’t, then I don’t think it’s a solvable problem. Then, that’s an indictment that founders don’t really want to work with their stakeholders, and I don’t believe that’s true.”

To learn more about OpenPitch, connect with the company here.