Chris Messina

Arc - Software-driven banking & growth capital for startups

by
Top Hunter

Open accounts in minutes, manage everyday banking needs without fees, safeguard cash, maximize yield, and access capital—all in one platform in partnership with trusted banks. [Arc is a technology company, not a bank: arc.tech/general-disclosures]

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Don Muir
Maker
📌
Hey Product Hunt! 👋 Don from Arc, launching the software-driven banking & growth capital platform for startups. We set out building Arc with a simple mission—to help startups grow. At the time, we didn’t anticipate how tumultuous the startup funding, banking, and operating environment would become over the next two years. For startups, access to capital and FDIC coverage has never been more important. In turn, our founding principle to support the startup ecosystem has never been more clear. And with that, we are incredibly excited to formally introduce Arc to the Product Hunt community. A few guiding principles around Arc’s platform 👇: 1. Become the one-stop-shop for all things startup finance (banking, funding & spending) 2. Prioritize the trust & safety of our customers by partnering with trusted financial institutions 3. Build enduring products that drive value to startups during both good times and bad Enter Arc—your full-service finance platform and startup command center. With Arc’s banking platform you can: ⏱️ Open a business account in <10 minutes 🆓 Manage everyday banking & finance needs without fees 📈 Generate market-leading yield on idle cash 🏦 Automatically diversify deposits across dozens of FDIC-insured banks 💵 Quickly access non-dilutive capital in-app at competitive terms Our team of Arc-itects has worked hard towards this launch but we have a long way to go. In that vein, we’d love your feedback on our product! Please leave your comments below or you can reach us at founders (AT) arc.tech. P.S. As a one-time Product Hunt promotion, we’re offering a $2.5K cash bonus for deposits >$250K made into your Primary account through the end of July. Bonuses will be paid out one month after initial deposit contingent on funds remaining in place over the period. To redeem, simply reply to your onboarding welcome email with the promo code. You can get started here. -- Arc is a financial technology company, not a bank or an investment advisor. Banking services provided by Evolve Bank & Trust, Member FDIC. All investment advisory services provided by Helium Advisors LLC. Arc receives compensation as a percentage of assets managed by Helium for promoting Helium’s investment advisory services. Brokerage services provided by BNY Mellon Pershing, Member SIPC, through a clearing and custody partnership with Helium. Read additional disclosures here.
Don Muir
@veronica_pachari thanks for your support
Don Muir
@victoria_wu thank you very much 🙏
Eric McFarland
@don_muir startups deserve top tier AI-driven banking platform service like this from Arc! All the other traditional financial institutions keep providing sub par service and its the startups that suffer. I can't express how badly founders and growth minded entrepreneurs need this!
Basile Senesi
@don_muir @rhaivimies Don "the Rocket" Muir has got a ring to it!
Don Muir
@iamkgn really appreciate it!!!
Nick Lombardo
To summarize the key themes I'm seeing in these comments from everyone: trust & deposit safety, sufficient & flexible yield, timely customer support, automated processes, and bundled financial products. What other themes, or better yet specific financial products / features, do you want to see us prioritize?
Anh-Tho Chuong
@nlombardo do you plan to launch in other geographies? I am sure there’s demand in Europe!
Nick Lombardo
@anhthochuong Yes - we want to make Arc available in Europe. We don't have a solid timeline to announce today, but it's something we're exploring and excited about.
Anh-Tho Chuong
@nlombardo awesome! We will start testing you with out US entity and continue with the EU one when you launch ☺️🥳
Dom Mirabile
@nlombardo Seems like Arc is already a one-stop-shop for cash/capital. Would love to see what innovation looks like on the VC/equity side given that is such an important piece of the startup journey. How can you help founders make smarter decisions when it comes to raising capital in equity rounds? Have you thought about that?
Nick Lombardo
@dmirabile5 Great question. Given we bank startups and underwrite many of them for non-dilutive financing already, we're often close to our customers when they're thinking about raising equity rounds. Today, we haven't productized much on the equity side, but we tap into our VC investor network for introductions and provide advice around overall financing strategy. As we build out our community of startup banking (and increasingly VC banking) customers, there is more we'll look to productize.
Basile Senesi
It's hard to keep the subtle differences straight when it comes to fintech banking. A lot of the neobank differentiation is surface level - better service, better credit products, better rates... Arc nails all of that and leads to market in each of these areas (dedicated relationship managers, venture debt + working capital + ABLs..., highest yields on treasuries...). More transformational, however, and really bucking the trend in fintech is the focus on building this product atop too big to fail bank partners like BNY Mellon Pershing, and relentlessly growing that list. Lots to love about this solution! (disclosures: https://www.arc.tech/general-dis...)
Don Muir
@basile_senesi1 well said
Basile Senesi
@sebhastien Thank you!
Ashley Barrett
@basile_senesi1 I agree it’s extremely hard to keep up with the subtle differences of the crowded space of fintech banking. So is Arc’s differentiator from said crowded space that you offer it all as opposed to one or 2 things really well? How are you selling this value to founders who aren’t financial/understand the value or may not need all of the value you offer? BNY Mellon 😬🙈 for a 2023 banking platform imshocked! I’m just going to assume some radical digital transformation happened with them - I used to work for Morningstar, MS built their systems around BNY, arguably the worst banking tech I’ve ever seen in my life most outdated processes in fact MS stopped doing business with them - it was that bad! just seeing their name associated with the future of banking made me do a double take 🤯 of shock lol I would never put future of banking and their bank in the same sentence (at least hope the people you’re talking to don’t have the insight I do on banking, BNY is like the antithesis of what you’re doing) it’s really hard to keep up with the saturation of this market, but I look forward to keeping an eye on how this fintech product solves your target markets problems!
Basile Senesi
@ashleylivingagile our differentiator is that we offer the best and most diverse passive cash management solutions for startups. Like our competitors, we also offer a very elegant front end UI for day to day banking, but our Treasury solution is the difference maker. I know, BNY has come a long way, from a traditional offline bank to an API enabled player. We've been very grateful to partner with them to develop that further given the strength of their balance sheet and resilience!
Jared Friedman
Arc has become widely used and well-regarded in the YC Community, which has high standards for products like this. Many YC companies tell us they love Arc and have had a great experience. In the wake of the SVB & FRB collapses earlier this year, the startup world desperately needs high quality banking products designed for tech companies. Arc elegantly solves the issue of FDIC limits to ensure that your money can't ever be vulnerable to a bank run, while also bundling all the modern features you would expect from a banking product.
Basile Senesi
@snowmaker we're proud to have built a product tailored for YC startups. Building is hard enough, cash management shouldn't be something founders have to lose sleep over. We believe in diversifying bank deposits without adding work - and there's no community more in tune with that message than YC!
Austin Beveridge
@snowmaker you absolutely nailed it! We're building the future of startup finance, which combines the personalization of regional banks with the balance sheet security of too-big-to-fail banks!
Eric McFarland
@snowmaker you're right about the startup world needing high quality banking products, which Arc provides. I hired someone from SVB while I was at Brex and he told me they were still using the same systems from when I was at SVB 10 years ago. Banks just aren't putting enough energy into what startups really need!
Don Muir
@snowmaker thanks Jared - it’s our honor to serve the YC community
Nick Lombardo
@snowmaker Appreciate your support since day 1!
Mike Luo
Big fan of Arc - especially the direct treasury buying feature! Can get better yield without much extra work!
Nick Lombardo
@azianmike Appreciate all your support Mike! We've found that giving users direct buying access + a menu of options across bank sweeps, money market funds, and T-Bills has been helpful in allowing for flexibility as companies' cash management goals shift over time.
Basile Senesi
@azianmike we're all about balancing liquidity, returns, and protection... and giving our customers the tools to do exactly that. On their terms. We're glad you like it!
Great to see such innovative solutions for startups. Kudos to the Arc team! How do you ensure the security of financial transactions on your platform?
Austin Beveridge
@ricardo_luz Great question! TL;DR one of the most systemically important banks (BNY Mellon Pershing) powers our Treasury account, and our operating accounts are built on top of the Stripe BaaS rails. Finally, our bank sweep comes with $5M FDIC insurance through its sweep network of dozens of FDIC-insured banks including JPMorgan Chase, Goldman Sachs, and Citibank.
Nick Lombardo
@ricardo_luz In addition to Austin's points around strong bank partners, we've also invested heavily in platform security features to mitigate fraud, including KYB/KYC processes, multi-factor authentication, transaction monitoring & alerts, etc.
Ashley Wilson
We recently became customers of Arc at Momentum, but have been following their progress for the last 9 months or so. The speed at which they've been able to ship a full suite of products for startups like us is nothing short of impressive. When we were looking to switch from a more traditional bank in favor of a platform that's wayyy more tech-first, Arc was a no-brainer to go with. Not to mention - the team and customer support is awesome! Can't wait to see what else they come up with. Congrats, Arc!
Basile Senesi
@awilson820 Thanks for the support! It's customers like you who inspire us to build and ship ever faster!
Don Muir
@awilson820 we are so grateful to partner with such a great startup like Momentum 🚀 our product velocity is only accelerating… stay tuned. Anything in particular you’d like prioritized??
James Currier
There clearly needs to be a layer of software and service on top of the creaky old banking system and Arc has made that happen. This should be a standard part of the financial system going forward. Well done team!
Basile Senesi
@james_currier1 we completely agree! And we're just getting started: adding a digital layer to an otherwise dusty banking system means we'll keep adding new bank partners and products for the benefit of our startup customers!
Don Muir
@james_currier1 spot on James. We’re here to modernize business banking system in partnership with the worlds most trusted offline banks 🏦
Nick Lombardo
@james_currier1 Well said James! The software layer gives users the best of both worlds - a great front-end product & support experience plus access to a menu of banking products on the back end.
Edwin Arbus
Top Product
🔌 Plugged in
Congrats on launch! We work with Arc through Stripe BaaS and I've been particularly impressed by the Arc team and product velocity—especially in recent months. They're tackling a long-standing pain point for startups. Excited to follow their progress!
Don Muir
@edwinwee - I’m excited to expand our partnership in 2023 and beyond!
Nick Lombardo
@edwinwee Stripe has been an awesome partner and it's only the beginning. Looking forward to continuing to build together.
Basile Senesi
@edwinwee Stripe has been an invaluable BaaS partner for us. You guys have made building a delightful product much easier, and we and our customers thank you!
Santiago Suarez Ordoñez
Modern and safe too? Your timing is brilliant. I'm so glad to be an Arc customer. Good sleep at night and convenience every day to focus on doing real work!
Basile Senesi
@santiycr Safety and Ease are everything here at Arc, and we were focused on it before it was cool! So grateful to count you guys as customers!
Andrew Qu
Exciting times for the best of the BAM fintech!
Jeremy Tsui
congrats don and team! have loved using the treasury products and can't wait to see what y'all roll out next 🎉
Nick Lombardo
@jeremytsui Thanks for being with us since day 1! The product wouldn't be where it is today without your time and feedback.
Basile Senesi
@jeremytsui Thanks Jeremy for the support! We're grateful for your support - and expect a lot of really cool stuff to come on the Treasury front in the coming months!
Don Muir
@jeremytsui we love Finley at Arc. Excited to scale together over the years to come 🤝
Matt Calvano
@don_muir Who designed this beauty? Looks clean!
bobby novoa
@don_muir @matt_calvano appreciate the kind words, Matt! Startups and founders deserve a better banking experience, and design is at the core of everything we do here at Arc.
Don Muir
@matt_calvano that would be the legendary Bobby Novoa. Is there a particular feature that’s most relevant to your business? We’d love to bank with Adaptive & would be happy to prioritize any feature most relevant to your startup!! 🚀
Matt Calvano
@bobbynovoa Looks awesome. @don_muir how does your treasury mgmt product work?
bobby novoa
@don_muir @matt_calvano Thanks, Matt! 🙏
Nick Lombardo
@bobbynovoa @don_muir @matt_calvano Our Treasury account is a brokerage account through BNY Pershing where you have the option to store idle cash in a yield-bearing $5M FDIC-insured bank sweep as well as invest in low risk positions that generate higher yield. These include Money Market Funds (e.g., Vanguard) and U.S. government-backed T-Bills - both earning 5%+ APY today. The Treasury account comes equipped with everything you'd need to manage your liquidity and yield, including real-time dashboards, statements, buy & sell flows, and free money transfers. Happy to provide a demo anytime if you shoot me a note at nick (at) arc.tech! (Disclosures: https://www.arc.tech/general-dis...)
Jacob Claerhout
Recent times have shown that companies need to work with trusted partners, like Arc to manage their treasury. Congrats on the launch!!
Nick Lombardo
@jacobclaerhout Thanks for the support! We've focused a lot on customer deposit safety by working with trusted bank partners and providing optionality when it comes to where to store funds (super-FDIC insurance bank sweeps, U.S.-backed T-Bills, systemically important banks, etc.).
Ashwin Kumar
This is exceptional: it's about time we had a software-first solution to digital banking for startups. I know dozens of Arc users and they're all extremely happy with the product. Great work @don_muir and the rest of the Arc team!
Basile Senesi
@don_muir @ashwin_kumar helps to have a killer BaaS partner! Building this on top of Stripe has been a game changer for our product velocity!
Nick Lombardo
@ashwin_kumar You and the Stripe team have been phenomenal partners. Thanks for helping us get the product to where it is today, and I'm excited for what's on the horizon!
Scott Perket
Looks incredible. Congrats on the launch @bobbynovoa and team! 🤩🎉
bobby novoa
Thanks for your support @scottperket – means a lot coming from you! 🙏
Basile Senesi
@bobbynovoa @scottperket great teams build great products... and Bobby definitely has a very big part to play in that!
Don Muir
@scottperket thanks 🙏
Gabe Greenberg
Arc is absolutely a fantastic product. We use Arc at g2i.co and had a great experience. The process is transparent and you don't have to give away equity. What more could a founder ask for?
Basile Senesi
@gabe_greenberg Thanks Gabe! We've loved having you as a customer. The non dilutive financing part is super relevant these days given the state of equity markets. You tell us: what should we build for you next??
Don Muir
@gabe_greenberg we are proud to serve your extraordinary company 🚀 any other feature you’d like us to build next?
Alex Mann
Love this company. Best built fintech product in this space, much better than alternatives. Having seen them grow over the past 18 months I can truly vouch for them!
Nick Lombardo
@manna Appreciate your support and kind words Alex!
Basile Senesi
@manna Appreciate the support! We listen to our customers closely, and take their feedback to heart. What they liked and didn't like about experiences with other options in the market inspires much of what we build!
Don Muir
@manna means a lot coming from a fintech expert like you. what credit or banking product should we launch next? And why?
Jonathan Awad
HUGE fan of Arc! So many products out there and yet none of them bring this level of empathy to the product They truly built a product for companies with the company first and foremost in mind Support is top tier. People are top tier. Product is top tier. Can't stop, won't stop.
Austin Beveridge
@jonathan_awad1 Got that right, Arc puts founders first! We listen the problems they're facing, and build solutions to fix them! Capital was first, then cash management, and most recently the cash sweep! We can't stop and won't stop!
Nick Lombardo
@jonathan_awad1 As always, appreciate your support and partnership!
Basile Senesi
@jonathan_awad1 thanks Jonathan - we build through customer feedback, and yours is invaluable!
Annie Zhu
I've been an Arc banking customer for over a year now and am amazed at how much more seamless and efficient Arc banking is relative to other traditional banks I've used in the past. Their product velocity and high-touch customer service have been unmatched for me - Arc has really thought of every detail when it comes to building the best platform for its customers, and the focus on delivering best-in-class really shines through.
Nick Lombardo
@azhu94 Thanks for the support and kind words Annie. We do our best to bring the benefits of a digitally-native platform without sacrificing on the human relationship side of things, which is important too!