A Product Market Fit Show | Startup Podcast for Founders $10M Raised, 500K Users, but she still failed—here’s what went wrong | Benedetta Lucini, Founder of Oval Money
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Jun 26, 2025 Benedetta Lucini, founder of Oval Money and former Uber manager in Europe, shares her candid startup journey. Despite raising $10M and gaining 500K users, she reveals how chasing big partnerships can derail success. Benedetta discusses the pitfalls of corporate VC reliance, the complexities of adapting US models to Europe, and costly fundraising mistakes. She encourages founders to validate ideas before building tech and highlights the emotional toll of making tough decisions when facing failure. This is a must-listen for aspiring entrepreneurs.
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Avoid Equal Founder Splits
- Avoid equal equity splits among multiple founders as lack of a decisive leader hinders tough decision-making.
- Assign clear final decision authority especially in stressful times.
Manual MVP Testing
- Benedetta manually tested her fintech savings idea by rounding up users' spending without an app.
- She built a community early using LinkedIn to recruit beta testers and gather feedback.
Europe Fintech Challenges
- Europe's fragmented regulations and smaller markets make fintech scaling harder than in the US.
- European consumers are more risk-averse and keep more money in bank accounts than Americans.
