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Our Story
ProsperOn's journey started with a mission to help people.
October 2020
Three College Roommates Googled "Top Five Problems in the World"
During the height of the Covid-19 pandemic, three college roommates decided to start a business. With only a few decent ideas in mind, they Googled "Top 5 problems in the world" and made the discovery that 45 million people hold $1.7 trillion in student loan debt.
A solution was born that leveraged compounding interest in the securities markets to return interest to the borrower as a retirement account. This idea became "581 Lending Co."and our target audience was nursing students.
April 2021
Post Graduation Life Calculator (PGLC)
After months of meetings, our team determined tackling the "student debt crisis" was both legal and feasible. We rebranded to MediFirst Financial (Medical First Financial) to better serve our nursing audience, and built a tool called the Post Graduation Life Calculator (PGLC). This tool helped high school students looking to go into the medical field understand the burden of their debt.
July 2021
Officially Incorporated as a Business (Delaware C-Corp)
July 2021
MetaFirst Financial - Advisor Marketplace
Turns out disrupting the student loan industry is both expensive and extraordinarily difficult.
In response, our team pivoted towards the wealth management industry to address inefficiencies with online prospecting. Here came the MetaFirst Advisor Marketplace, a platform that connects financial advisors to clients in need.
September 2018
Education - Beta Test #1
Our team realized a marketplace only works when there is a constant flow of demand for advisors. The problem is most people don't know working with an advisor is an option. When we asked ourselves why, we discovered a lack of financial education and awareness among our peers.
Our focus quickly shifted to providing financial education to freshman in college in order to create a foundation.
November 2019
Education - Beta Test #2
The second version of the experience was guided and students used their real data to create an accurate budget and goals. We ran tests again in 5 different classes at Quinnipiac, capturing an audience of over 100 freshman and sophomore students.
January 2022
ProsperOn - Budgeting Tool
After many deep discussions and a few pros and cons lists, our team decided to pivot for a third time to real time budgeting with an education core. The biggest reason for the change was so we could create an active solution that delivers more real time value.
March 2022
Learn and Earn Budgeting Tool
After consulting our advisors, we discovered an incredible opportunity leveraging blockchain to provide a true learn and earn model. Our coin was called the PRC (personal responsibility coin) and was going to be built over the Algorand blockchain.
Turns out building on a brand new technology is both expensive and extraordinarily difficult.
April 2022
Finalist (Round of 16) National Venture Competition
After that gut punch, we decided to take all of our lessons and to go back to the basics... Education and awareness create a foundation to build on, and that's where we needed to start.
We crafted a model that leveraged simulation for real time application, gamification for engagement, and personalization for an increased retention rate. The kicker being, the platform is a budgeting tool at its core, so it can be adopted for real time use after the simulation is complete. Think paper trading, but for life.
We took this framework to the New Venture Championship, an international business competition, hosted by the University of Oregon. Here, we made it all the way to the round of 16.
April 2022
Placed 1st at Connecticut State Business Competition - Best New Venture
Not long after NVC, we entered the Connecticut State Business Plan Competition in the Best New Venture category. We took 1st place and claimed $8,000 out of the $10,000 worth of prizes awarded in our category.
October 2022
ProsperOn U - Pilot V1
Riding the momentum from our competition run, we decided to start building an MVP version of our 7th product. The build took just under 6 months and we had all hands on deck. We finished at the beginning of October, and launched our first pilot program two weeks later.
The program ran at Quinnipiac University with 150 students in the School of Business. We monetized the pilot by getting sponsored by Northwestern Mutual Wealth Management as we explored a partnership model.
After the completion of the pilot, our results were positive with a 28% increase of understanding per topic covered, and a 84% retention rate overall. 90% of those who finished would have continued if they could.
October 2022
Invited to join Mass Fintech Hub (MFH)
Shortly after closing our pilot program, we were invited to join the Mass Fintech Hub out of Boston, MA. MFH is a community of financial institutions, venture capitalists, colleges/universities, and Massachusetts startups who are making an impact in Fintech.
December 2022
Accepted into Fintech Sandbox Data Access Residency Program
As we prepared to build out the full version of our product, we got accepted into the Fintech Sandbox Data Access Residency Program. This program provides access to some of the top data providers in the world, and will play a crucial part in reaching our desired level of accuracy within our simulation.
March 2023
ProsperOn U - Pilot V2
Starting this March, Pilot v2 will be available for testing across New England. This Pilot Program represents our first true simulated experience, and will function the same way as our full scale product. Click below to learn more!
Our full product launch is scheduled for the Fall of 2023. Join our newsletter to keep up to date!
May 2025
ProsperOn Budget - Continuation Product Launch
By Spring of 2025, our team aims to have a fully functioning budgeting tool for students to adopt so they can turn their education into action.
Today, ProsperOn is starting their full product build and preparing for their second Pilot Program in March. We are currently a team of five all driven by the same mission
"To eliminate financially trigged stress and anxiety for young adults "
You've heard our story, it's now time to take control and ProsperOn
