Investormill is a group of data nerds who want to make it simple for non-experts to find and chart economic and financial data, and isn’t it about time? The company makes 301, 284 economic and financial indicators accessible – and easy to sort through. Oh, and did we mention that it’s free? Founder Dan Vrabac is here to discuss the nuts and bolts.
Tell us about the decision to apply for DreamIt Accelerator.
Investormill is a FinTech company, so there is no better location in the US (or arguably, in the world) than New York City. We also like that DreamIt pairs mentors with companies based on company-specific needs. Perhaps most importantly, DreamIt has a solid reputation as an accelerator.
Tell us about your product.
Investormill is a SaaS provider of economic and financial data. We’re going after the 15 million data users in the US by curating the data search to fit the user’s skill level. We are disrupting the $25bn financial data industry with a freemium model that makes tools available for one-time or recurring usage that were previously only offered to enterprises for $500/month.
How is it different?
Current data providers take a top down approach to data – they offer a large number of series, but suffer in terms of organization. For the average user, finding the right data is like looking for a needle in a haystack. Investormill is re-thinking data from the bottom up in order to curate the search and make it simple.
What market are you attacking and how big is it?
Macro and financial data is a $25bn market in the US. This represents the needs of about 750,000 people in the financial services industry. We believe an application that properly curates the data could reach an additional 15 million people.
What is the business model?
What are the milestones that you plan to achieve within 6 months?
Build version 1 of our “data wizard.”
If you could be put in touch with one investor in the New York community, who would it be and why?
We haven’t started fund raising, but if you run a FinTech fund, we’d like to chat.
What is your take on the current scene in New York today?
There is an increasingly strong tech community in terms of education, investors, companies and talent.
How will being in NYC help your startup?
We are FinTech, NYC is the financial capital of the world – there is a strong knowledge and investor base here.