Every world-changing startup begins with an idea – a problem that needs to be solved or a vision for a future that doesn’t yet exist. B Capital looks for founders with a revolutionary idea and gives them the resources, partnerships, and guidance to bring that idea to life. 

In our Founder Spotlight Series, we’re highlighting some of the dynamic founders in our portfolio and the stories behind their revolutionary startup ideas.  

Meet Yunas Reguero, Co-Founder and CEO of Archie

Growing up in Puerto Rico, Yunas Reguero saw firsthand how a lack of access to financial services can impact small businesses, individuals, and families. When his father, a small business owner, often struggled to get paid, the rest of his family would be without the essentials they needed to live. 

The desire to fix this problem stayed with Yunas throughout his career in Silicon Valley. It would eventually inspire him to co-found Archie, a payments platform for freelance workers and vendors and the businesses that hire them.

Creating the Vision for Archie 

Having worked in strategy and operations at Square and building the go-to-market strategy for Facebook’s payments and commerce products, Yunas recognized how fragmented payments often could be. But it was through a conversation with his friend and eventual co-founder, Cassandra Aaron, that together they saw an opportunity to build an innovative payments solution for a problem impacting millions of people.

Previously, Cassandra had worked as both a freelancer and in-house at a creative agency where she employed hundreds of freelance contractors. With experience on both sides of the field, she saw a system needing fixing. That’s where the idea for Archie was born. 

“Companies that work with a large number of freelancers and vendors don’t have tools to onboard, manage, pay, and do taxes for them,” explained Yunas. “By using separate systems and manual processes for every contractor, they’re wasting countless hours managing these different workstreams.”

Meanwhile, freelancers often have to wait 30, 60, or even 90 days to get paid and do all of their own tax and accounting work. Furthermore, freelancers don’t have access to the same financial products that full-time workers employed by large businesses have. Reflecting on his upbringing, Yunas felt this lack of financial access was a problem that needed to be addressed.

The Pandemic Freelancer Boom

Adding fuel to Yunas and Cassandra’s fire was a growing trend in the post-pandemic labor market. Millions of workers were leaving their jobs (i.e., “The Great Resignation”), and a large number of them were turning to freelance work.”

“It’s estimated that in the next three to five years, half of the U.S. working population is going freelance,” explained Yunas. “Yet there’s no infrastructure to support them from a working and financial standpoint. We want to change that.”

Powering the Future of Work

Building a platform to streamline the way vendors and contractors get paid is the tip of the iceberg; Yunas believes Archie can be more than a payments solution. “Our long-term vision is that we see Archie powering the financial infrastructure for the future of work,” he explained. “As more businesses and freelancers join the platform and begin sending and receiving payments, we’ll have structured data that doesn’t exist elsewhere we can leverage to build better financial products for the growing freelance economy.”

Navigating the Startup Founder Journey

As a first-time founder, Yunas recognizes that building a great company takes time and a lot of work. “There is a steep learning curve and so many roadblocks to work through when you’re building something from the ground up,” he said. “You’re not only learning about a specific market and how to solve a specific problem but also how to hire, fundraise and operate a company.”

To help him navigate the challenges of startup life, Yunas has been consuming many books and podcasts and leaning on a network of other founders and external partners. “B Capital has been a valuable partner throughout the process,” he said. “The recommendation from Patrick Harmon to get an executive coach was really helpful. In general, the team is always supportive of me getting what I need to stay focused on building the business.”

With a fresh round of funding and millions in payments already processed, Archie is looking to grow and scale quickly. “We’re focused on building the ideal customer profile and ensuring that we’re building a product they will love,” said Yunas.

Learn more about how B Capital supports early-stage founders with the resources and guidance they need to grow and scale: http:b.capital/platform-overview/