Charlotte Angel Connection Episode 131: BJ McAndrews, CEO and co-founder of Flyp

Charlotte Angel Connection

Today, we welcome BJ McAndrews, co-founder of Flyp, to the podcast. BJ was introduced to me by Todd Buelow from Dualboot Partners (who was on Episode 95). I always enjoy meeting startup founders in our introductory calls. BJ and I hit it off right out of the gate. Like so many founders, he has an infectious happiness about him. After all he spends every day building his company - a company he wants to see change the way banking is delivered to millions of people. BJ is the kind of entrepreneur I've often thought Charlotte was creating but didn't know about. He was a successful banker working in a coveted role. He could have put it on cruise control and used his knowledge, experience, and connections to drive value to the bank all the way until he was ready to 'retire'. But in early 2020, BJ decided to step away from the bank to start his own - Flyp. "Flyp was founded with one primary goal in mind: to help you get where you want to go in life." BJ had read about the lack of mobility in Charlotte in the infamous report listing Charlotte at the bottom of upward mobility among top cities. Access to banking is such a key component of wealth creation but far too many people don't have access to banking - or banking that doesn't penalize people (with excessive fees). Flyp issues a debit card utilizing Sutton Bank - the same bank used by Robinhood, Monzo, Cashapp, and many others. With the debit card, they offer awesome rewards and no hidden fees. This space has been gaining traction for a few years and Flyp's approach should give it an opportunity to get some early wins. And I think their approach to 'gamifying' aspects of banking, spending and financial literacy is a fresh approach. BJ and I talked a little about all the creative ways they can and will do this on the podcast and then we further discussed over lunch a few weeks later. BJ is part of a class of entrepreneurs Charlotte should celebrate - the banks have loads of talent waiting to unlock economic value for the city. The success BJ, and others like him have, should grease the wheels for others to follow in their footsteps and help create the next stages of momentum needed for Charlotte's Fintech growth. William Bissett is the owner of and an Investment Advisor Representative of Portus Wealth Advisors, a Registered Investment Adviser. Registration does not imply a certain level of skill or training. Opinions expressed on this program do not necessarily reflect those of Portus Wealth Advisors. The topics discussed and opinions given are not intended to address the specific needs of any listener. Portus Wealth Advisors does not offer legal or tax advice, listeners are encouraged to discuss their financial needs with the appropriate professional regarding your individual circumstance. Investments described herein may be speculative and may involve a substantial risk of loss. Interests may be offered only to persons who qualify as accredited investors under applicable state and federal regulation or an eligible employee of the management company. There generally is no public market for the Interests. Prospective investors should particularly note that many factors affect performance, including changes in market conditions and interest rates, and other economic, political or financial developments. Past performance is not, and should not be construed as, indicative of future results.