Kevin O’Leary, an investor on hit show Shark Tank, just invested $100,000 in a company that converts spare change into Bitcoin (BTC) and other cryptocurrencies.
On the October 21st episode of Shark Tank, entrepreneur Dmitri Love stood before the Sharks and asked for $100,000 in exchange for a 10% stake in his company, Bundil. How does Bundil work?
Bundil: The App that Won over Kevin O’Leary
Dmitri Love was studying Biochemistry at the University of Arkansas when he suffered a knee injury. Love was a soccer player, though his injury landed him on the sidelines. During his recovery, he taught himself coding and become a software engineer.
Throughout his recovery period, he became interested in cryptocurrency. Unsure where to begin and intimidated by the investment process, he sought a simpler solution. From here, Bundil was born.
Bundil is an app available on iOS and Android. It allows users to invest their spare change into cryptocurrency automatically.
How Bundil Works
First, you link Bundil with your debit or credit card account. The platform is compatible with hundreds of banks. Next, Bundil rounds your transactions from everyday purchases to the nearest dollar. The excess rounded change is automatically invested in the crypto of your choosing.
Finally, you can track your portfolio, manage your currencies, and passively invest through on the app.
Bundil Lands a Deal on Shark Tank
Love was asking the Sharks for $100,000 for 10% of Bundil. A rather steep offer, but nothing the Sharks hadn’t seen before. The presentation was not exactly smooth. Dmitri fumbled through his introduction, though the Sharks encouraged him to continue. After Lori Greiner, Mark Cuban, Daymond John, and guest Shark Matt Higgins all opted out, Kevin O’Leary made the decision to meet Love’s offer.
O’Leary opted to invest six figures into Bundil and obtain 10% of the company. Though cryptocurrency still leaves some investors, like Lori Greiner and the ‘Wolf of Wall Street‘, apprehensive, others see unlimited opportunity.