How I Built This with Guy Raz How I Built Resilience: Daniela Corrente of Reel
Dec 17, 2020
In this engaging conversation, Daniela Corrente, CEO and co-founder of Reel, shares her journey creating a digital savings platform aimed at helping users make significant purchases while avoiding credit card debt. She discusses the emotional aspects of consumer behavior and how data-driven decisions build customer trust. Daniela also explores the innovative revenue strategies and adaptive marketing approaches Reel employs, especially in response to pandemic-driven financial trends. Her insights into resilience and financial literacy will inspire aspiring entrepreneurs.
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Credit Card Mishap
- Daniela Corrente, Reel's CEO, shared her personal experience with credit card debt after moving to the US for college.
- She misunderstood credit limits, leading her to even sponsor a child, highlighting the need for financial literacy.
Fundraising Challenges
- Investors initially struggled to relate to Reel's value proposition as they didn't personally need to save for smaller purchases.
- Data became crucial in demonstrating market need and the spending power of Reel's target customers.
Fundraising Tactics
- Build confidence and clearly communicate your needs to potential investors.
- Highlight your progress with other investors to create a sense of urgency and desirability.