Welcoming Andreessen Horowitz & Collaborative Fund to the Balanced Family
Today, we’re thrilled to welcome two new investors to our list of amazing backers:
- Andreessen Horowitz via general partner Jeff Jordan, former president of PayPal, and
- Collaborative Fund, an early-stage investment firm with a strong focus on networks, Collaborative Consumption, and marketplaces.
a16z and CollabFund join our list of fantastic investors, which includes Y Combinator, SV Angel, Airbnb CEO Brian Chesky, reddit CEO Yishan Wong, Ashton Kutcher, and over a dozen angel investors, many of them Facebook alumni. We’re blessed to have so many accomplished and supportive people believe in our team and our vision.
What we’ll use the money for
We want to continue fulfilling our goal of making Balanced the ideal payments solution for the toughest type of ecommerce model: marketplaces and networks (i.e. companies like Kickstarter and Airbnb). All of whom face significant issues around:
- accounting and operations,
- compliance, &
- international currency conversion
We believe that by focusing on marketplaces and networks now, Balanced will become a valuable payment and fraud solution for all ecommerce models in the future. In fact, that’s already happening as companies in the ad network space have begun to adopt Balanced. For example, you could imagine a company like Adroll using Balanced to disburse funds to their publishers.
Why marketplaces and networks
With investments from Andreessen Horowitz and Collaborative Fund, Balanced is doubling-down on its belief that large networks can be truly transformative to the world economy by surrounding ourselves with people and organizations that share the same belief and understand marketplaces. Jeff Jordan at a16z, for example, gets ecommerce, payments, and network effects better than almost any one else due to his experience at eBay, OpenTable, and PayPal. CollabFund has made investments in companies like Kickstarter, Lyft, and reddit, all companies whose value is dependent on building healthy, scalable network effects.
Fundamentally, people interacting in networks can exchange information, goods, and money to create more efficient markets that couldn’t exist before. Balanced wants to be the financial fabric for these “more-perfect” markets. With network focused investors behind us like Collaborative Fund, as well as payments and ecommerce-focused investors like Jeff Jordan at Andreessen Horowitz, we feel we’re well suited to become the payments platform for a new international and interconnected online economy.