Fierce

Rob Cornish was the Chief Information Officer at the New York Stock Exchange and International Securities Exchange. Phillip Hoffman was an executive with Gemini, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss. And Daniel Gonzalez was an executive with Chime, a personal-finance app recently valued at twenty-five billion dollars.

What do they all have in common? They recently came together to start a new financial-technology platform: Fierce.

Fierce is described as a finance “super app” — a mobile platform that enable users to save, spend, invest, and earn.

According to Allied Market Research, the global market for fintech platforms is projected to reach nearly $700 billion. Today, nearly two-thirds of consumers worldwide use at least one fintech platform.

The problem is that the entire experience is scattered and fragmented. You need one app for your checking/savings account. You need another for budgeting, and another for investing in stocks and cryptocurrencies.

People lack a single platform they can trust to manage all their finances. But Fierce was designed to bring everything together in a simple, easy-to-use mobile app.

Fierce offers three main benefits:

Holistic: Manage all of your finances in one place, and unlock your full financial picture.

Powerful: Take action with your money — spend it, save it, borrow funds, and make payments.

Approachable: Fierce’s platform is easy to use and features what the company calls a “beautiful, intuitive design.” There’s also a personalized news feed and 24/7 customer support.

Fierce launched a minimum viable product in 2022, and officially launched its platform in February 2023. To generate revenue, the company has multiple streams. For example:

It charges transaction fees, lending fees, referral fees, and fees from its upcoming credit card.

Based on a projection of 576,000 Fierce accounts and an average fee of $792 per account a year, Fierce would bring in $456 million in annual revenue — a goal it aims to reach by 2025.

With respect to metrics, Fierce spends sixty dollars to acquire each customer. Methods include paid advertising, strategic partnerships, and a referral network.

The company has raised ten million dollars from professional and angel investors, including AP Capital, Space Whale Capital, Wheelhouse Digital Studio, and Pendrell.

In the first half of this year, Fierce will introduce direct deposit, Apple/Google pay options, and crypto trading. Later this year, it will offer fixed-income products and insurance products.

In 2024, Fierce will offer trusts and wills, as well as asset transfer options. It will then offer fractional investments in sectors like real estate, art, and commodities.

Team Background

Daniel Gonzalez - VP of Customer Experience

Daniel began his career as Director of Customer Care with Qwest Communications, an IT services company that became CenturyLink. From there, he spent five years with Wells Fargo as Vice President of Client Services.

More recently, he was Head of Member Services with Chime, a mobile banking app recently valued at twenty-two billion dollars. He then became Vice President of Customer Experience with Copper Banking, before joining Fierce in 2021.

Rob Cornish - Founder & CEO

Rob has spent more than twenty years in the financial industry.

Prior to starting Fierce, he was Chief Technology Officer of Gemini, a cryptocurrency exchange co-founded by the famed Winklevoss twins. Before that, he was Chief Information Officer with the New York Stock Exchange.

Prior to that, Rob spent seventeen years with the International Securities Exchange, serving as a technology strategist and later Chief Information Officer. Before that, he was a software-development consultant with Prudential Investments.

He studied at Iowa State University and the University of Minnesota.

Phillip Hoffman - Chief Operating Officer

Phillip joined Fierce in July 2021.

Most recently, he was Head of Technical Program Management with Gemini, a cryptocurrency exchange. Before that, he was Director of Program Management with CaaStle, a technology startup.

Earlier in his career, he was a program manager with Gwynnie Bee, a technology startup focused on women’s fashion. Before that, he was a program manager with Motion Solutions, a machinery and manufacturing business.

Phillip earned a Bachelor’s degree in Engineering Management from the University of Arizona.

Co-Investors

Wheelhouse Digital Studio

A consulting firm for startups.

Space Whale Capital

A cryptocurrency hedge fund and investment company.

AP Capital

A venture-capital firm investing in startups.