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Rudder

A financial management tool that enabled users to separate and classify income and expenses.

Categories

FinTech, Personal Finance,

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Reasons for Shutdown

Technical Issues

Rudder unintentionally exposed user's financial data.

Rudder’s emails were getting flagged as spam by Yahoo, so all of its users with Yahoo Mail accounts were not getting any updates.
Rudder introduced a new DomainKeys Identified Mail (DKMI) feature to its outgoing emails after talking with Yahoo, which adds a signature to any email that verifies that it comes from a valid domain.
But for some reason, "it added them together instead of separating the emails," Somaiya explained.
So not only did those 732 users receive their own financial updates, but all the updates from the attached accounts as well.
The fact that the start-up accidentally revealed the bank account details of other people to some of its users was possibly the reason the start-up died.

Direct Competitors and Similar Companies

Note: Direct competitors are defined by similarity score of more than 40%, while similar companies are defined by similarity score of less than 40%

No.	Name	Similarity score	Description	Industry	Categories	Location	Ownership status	Entity type	Stage of development	Transactional model type	Defensibility moats	Last financing round	Total raised	Post-money valuation	Last financing date	No. of funding round(s)	No. of investors	Investors	Total revenue	Market capitalization	No. of investments	No. of acquisitions	No. of board seats taken	Competition	Management	No. of employees	Company reputation	Contact info	Operational status	Operational duration	Shutdown date	Founded date	Legal name	Former legal name(s)	Ticker
1.	Track	51.6%	An app that simplified property finances for homeowners.	Internet	Applications, Personal Finance, Proptech	United Kingdom	-	-	-	-	-	M&A	-	-	-	-	-	-	-	-	-	-	-	-	-	1-10	-	-	Inactive	-	-	2017	-	-	-
2.	Bó	49.2%	A digital retail bank.	Internet	Banking, Financial Services, Applications, FinTech	United States	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100-250	-	-	Inactive	-	-	2018	-	-	-
3.	Circle	43.1%	A cryptocurrency-focused finance company.	Internet	Cryptocurrency, Bitcoin, FinTech, Banking, Financial Services	United States	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	Inactive	-	-	2013	-	-	-
1.	TrustEgg	28.0%	An online trust account designed to save for a child's future.	Internet	Financial Services, FinTech	United States	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1-10	-	-	Inactive	-	-	2011	-	-	-
2.	Wazza	27.2%	An online payments analytics platform.	Internet	FinTech, SaaS, Analytics, Payments	Portugal	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1-10	-	-	Inactive	-	-	2014	-	-	-
3.	Wildcard	26.7%	A company that helped people to spread out their pay cheque.	Internet	FinTech, Finance, Financial Services	Australia	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1-10	-	-	Inactive	-	-	2016	-	-	-
4.	Zoto	25.8%	A mobile airtime recharge app.	Internet	FinTech, Financial Services, Banking	Nigeria	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10-50	-	-	Inactive	-	-	2015	-	-	-
5.	Confido	19.7%	A payment solution developed to be used by both businesses and individuals.	Internet	FinTech, Payments, Financial Services, Blockchain	Germany	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	Inactive	-	-	2017	-	-	-
6.	Token Analyst	18.7%	An on-chain analysis platform intended to provide fundamental insights on crypto assets using data from the blockchain.	Internet	FinTech, Blockchain, Cryptocurrency, Analytics	United Kingdom	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1-10	-	-	Inactive	-	-	2017	-	-	-
7.	Quantifyle	5.9%	A wellbeing app which helped people achieve goals while helping insurers reduce costs.	Internet	Applications, FinTech, Health	United Kingdom	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1-10	-	-	Inactive	-	-	2015	-	-	-

Investors

No.	Image	Name	Investor type	Description	Location	Preferred investment stage(s)	Stages invested in	Assets under management (AUM)	Investment range	Investment sweet spot	Preferred investment focus	Preferred investment geography	No. of investments	No. of lead investments	No. of follow-on investments	No. of co-investments	Portfolio companies	No. of exits	Total exit value	No. of failed investments	Loss on investments	No. of acquisitions	No. of board seats taken	No. of funds	Limited partners	Co-investors	No. of partners	Partners	No. of employees	Management	Board members	Founders	Investor reputation	Contact info	Entity type	Legal name	Former legal name(s)	Founded date	Ticker
1.		Meakem Becker Venture Capital	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Leadership

No.	Image	Name	Previous designation	Previous company	Previous biography	Previous profile type	Previous location	Experience	Education	Reputation	Current company	Current designation	Current biography	Current profile type	Current location	No. of investments	No. of exits	Total exit value	No. of board seats taken	Contact info
1.		Nikhil Roy	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Funding

No.	Financing date	Financing round	Total amount raised	Post-money valuation	Financial viability	Fundraising target amount	Remaining target amount	Financing type	No. of investors	Board seats	Lead investors	Entity type	Financing status
1.	15 Jan 2008	Series A	USD 2M	-	-			-	1	-	-	-	Completed