Behind the Scenes of inDinero: Building the Future of Business Finance

Who and What is inDinero?

InDinero (intoned as if it is a proper noun) is a real-time financial dashboard designed for businesses. Founded by my classmate Andy and myself, inDinero was born out of a need to streamline the complex process of managing business finances. Our journey from ideation to market entry is a story of passion, perseverance, and innovation.

The Inspiration and Origination

After brainstorming ideas over dinner in February 2009, we decided to focus on building a financial solution for small and medium-sized businesses. Our three initial ideas were:

Take on Mint with a better personal finance product Replace financial advisors and help people with their investment plans Build a Mint for Businesses

Being deeply familiar with personal finance management issues, developing a product specifically for businesses seemed like the most compelling next step. We chose to focus on the third idea, believing it could address the unique challenges faced by small businesses.

The Founding and Early Challenges

Our team, consisting of five members, is headquartered in Mountain View, and we've raised over $1M from angel investors. From the start, we faced numerous challenges in fundraising. The market conditions were tough, and our idea was still largely unproven. We were not the only ones excited about our vision, but convincing others was another matter entirely.

Despite the challenges, the passion for improving business finance management kept us going. We worked on the idea full-time during the summer of 2009. Eventually, we reached out to Y Combinator to secure additional support and funding. Our acceptance into Y Combinator was a turning point, allowing us to attract our lead engineer, Borden, full-time.

The Road to Success

The support from Y Combinator not only provided us with funding but also a network of experienced entrepreneurs. Our journey from Y Combinator to launching inDinero was not without its highs and lows. One of the significant highlights was when Mint was acquired by Intuit on September 14, 2009, providing us with a sense of validation and relief.

Today, our goal is to provide a comprehensive financial dashboard that every business owner can use. Our team is continuously iterating on the core product and exploring new functionalities. We are also actively hiring top talent to help us achieve our vision.

As we move forward, the challenge remains to make every business owner aware of the benefits of using inDinero for their financial management needs. Just as Drew Houston from Dropbox inspired us to apply to Y Combinator, we are inspired to contribute to the innovation and progress in the field of business finance.

Stay tuned for updates on our journey and how inDinero addresses the financial management challenges of small and medium-sized businesses.