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During a challenging year for startups and financial institutions, these entrepreneurs, traders and investors are navigating tough terrain and making an outsized impact.
By Jeff Kauflin, Maneet Ahuja, Nina Bambysheva, and Emily Mason
When Silicon Valley Bank collapsed in early March, some panicked entrepreneurs found refuge in Brandon Arvanaghi’s fledgling digital bank, Meow, which let businesses earn interest on their cash through short-term U.S. Treasuries. By the end of the month, the then-two-year-old, 12-person company saw $500 million in inflows.
Arvanaghi and cofounder Bryce Crawford–who had worked together as software engineers at cryptocurrency exchange Gemini–have since launched a high-interest business checking account, partnering with traditional banks like Nashville-based FirstBank to hold customer deposits. Meow also offers a loan marketplace and helps founders get mortgages. Today, the New York startup has more than 500 corporate customers and $1 billion in assets on its platform.
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