GlobeOne
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
GlobeOne was a Santa Monica-based fintech company established in 2013 by a group of socially-minded entrepreneurs and led by CEO Les Riedl. It built a mobile-based financial inclusion platform that partnered with a network of member banks to form a global community. Its patent-pending SocialBoost program returned about 50% of the interest banks earned on member deposits back to the community. Services included no-minimum demand deposit accounts with debit cards, domestic and international transfers within the network, and security savings accounts with lines of credit. In 2015 it signed a non-binding letter of intent with MetaBank to bring its mobile banking services to the United States.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Established
GlobeOne was established in Santa Monica, California, as a mobile-based financial inclusion platform built with a network of member banks.
- Platform launch
GlobeOne launched its mobile-based financial inclusion platform, aiming to make mobile banking safer, simpler and immediate for underserved consumers.
- MetaBank LOI
In April 2015 GlobeOne announced a non-binding letter of intent with MetaBank to bring its mobile banking services to the United States.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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