In this episode, we're joined by Nick Mathews, the founder and CEO of Mainvest, where to date he has funded 400+ small businesses around the country. Nick is a visionary leader dedicated to rebuilding the American dream by empowering communities and small businesses with the capital they need to thrive. Nick talks about how his pivotal role in launching Uber in Boston helped him gain first hand insights into the economic challenges faced by local communities. He founded Mainvest to address these issues, with a commitment to a community-driven approach funding small businesses across the U.S.. Nick discusses the concept of locality and how to scale, how companies go through the underwriting process, and what’s got him excited for the world of alternative capital in the future.
Key Takeaways
[2:56] Nick’s former career as one of the early employees at Uber and launching the Boston market.
[3:02] What seeing how Uber could work outside of major metropolitan areas meant to Nick.
[5:33] How new regulations and frameworks coming from The Jobs Act and crowdfunding enabled Nick to launch Mainvest
[8:26] Fun fact: Nick was planning on being a rockstar and went on a few mini tours, with almost all his bandmates eventually going into tech.
[10:21] Lessons Nick took from Uber to Mainvest.
[11:03] The concept of locality.
[13:03] Underwriting and the vetting process.
[24:50] Why local investors are open to funding local businesses, such as breweries and bakeries.
[28:22] Portfolio performance.
[30:12] Mainvest’s 400+ deals they have funded and why the model unlocks interest in more businesses that need capital.
[32:09] Customer acquisition strategy.
[32:10] Mainvests’ capital strategy and revenue share model.
[40:39] Building a bespoke financing platform.
[42:40] Geographic hot spots for SMB financing.
[47:31] What Nick saw at Uber that wouldn’t fly today.
[54:57] What fundamental truths have changed for Nick since starting Mainvest?
Resources:
RBF Network
Keith’s Twitter
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Ridiculous History
History is beautiful, brutal and, often, ridiculous. Join Ben Bowlin and Noel Brown as they dive into some of the weirdest stories from across the span of human civilization in Ridiculous History, a podcast by iHeartRadio.