The ASK: Fintech Maslow will offer financial services at cost, disrupting the traditional profit model

- March 25, 2024 3 MIN READ
Maslow cofounders Caitlin Robinson and Kane Jackson
Maslow cofounders Caitlin Robinson and Kane Jackson
Welcome to The Ask, Our new column on Startup Daily designed for founders looking for capital.

It may be venture capital, crowdfunding or another path, and is designed to flag your startup to potential investors. If you’re on the hunt for cash, we’re happy to share the news with Australia’s startup community. This is your chance to pitch directly to them.

This week it’s Maslow, which is raising on Birchal. Cofounder and CEO Kane Jackson has the details. 


Startup: Maslow 

Founded: 2023, Melbourne 

The ask

Crowd-sourced funding on Birchal 

The plan

Bring on core team and commence MVP development alongside key partners. 

About them

Maslow’s mission is to radically transform the finance industry from a profit-centric to a value-centric model, striving to turn the retail finance industry into a global utility owned equitably by its users.

This vision is underpinned by the belief that financial products should serve as vehicles for value creation rather than profit extraction, challenging the traditional finance industry’s focus on profitability at the expense of product quality and customer outcomes.

Maslow plans to introduce a digital platform that offers customers access to a suite of financial products and services at cost price, supported by a value-based monthly subscription fee. This approach is expected to disrupt the traditional financial services model by aligning the company’s profits with the quality of service provided, rather than the volume of products sold or their profit margins. 

Maslow sets itself apart by committing to a unique ownership and shareholder structure designed to maximize social good and ensure long-term sustainability.

Initially, 5% of the company will be owned by customers, with a long-term vision of increasing customer ownership through a cap on investor returns and a process for transferring equity to customers. This structure aims to reduce the extractive elements typical of startup ventures and align the company’s interests closely with those of its customers and the broader community.

Additionally, Maslow’s planned product range, which includes banking, insurance, investment products, and more, all priced at cost, emphasises its commitment to transparency and fairness.

By leveraging partnerships and strategic investments, Maslow aims to offer competitive, non-extractive financial solutions that stand in stark contrast to the high-fee, low-transparency products dominating the market today. 

The market

Maslow is addressing the pervasive issue of exclusion and inequality perpetuated by the traditional banking and financial industry, which is characterised by high fees, opacity, and a model focused on profit extraction at the expense of consumer value and societal cohesion.

Our prospective customers are those disillusioned by this traditional model and want an industry that supports society, as well as those who simply want the cheapest and best financial outcomes. We will offer a transparent,

subscription-based platform that provides financial products at cost, seeking to democratise access to financial services and ensure they serve the broader community’s interests rather than a small group of shareholders. 

Key trends acting as tailwinds for Maslow include a growing societal push towards ethical consumption, transparency, and corporate accountability. The increased scrutiny of the financial industry by the public and by regulators, combined with the rise of digital platforms that favour user ownership and equitable value distribution, further bolster Maslow’s growth potential.

Additionally, the global recognition of wealth inequality as a critical issue provides a conducive environment for Maslow’s mission, positioning it to potentially redefine the role of financial services in society. 

The cofounders

Kane Jackson, CEO: Kane, a versatile leader with a background in psychology, healthcare, and law, spearheads innovative solutions in fintech and retail financial services. His impactful initiatives, from launching Australia’s first actively managed retail investment product on app stores in 2017, to advocating for inclusive capitalism, underscore his commitment to revolutionising the industry for global betterment. 

Mina Calvert, CTO: Mina is one of the industry’s foremost tech leads and was previously Head of Digital Banking at Westpac where she oversaw in the Afterpay Banking-as-Service partnership. Mina was Head of Development at Banking-as-a-Service Startup Constantinople when it raised Australia’s largest ever seed round and she was formerly digital banking lead at Xinja. 

Caitlin Robinson, COO: Caitlin brings a healthcare perspective to her role managing what will be a complex entity with numerous highly engaged stakeholders. She previously Managed a team of 500+ individuals and leveraged billions in resources during the Covid-19 pandemic as Operations Manager at Ambulance Victoria. 

Kane and Caitlin have known each other for 30 years. Mina joined the team after Kane enlisted FrankieOne’s Aaron Chipper to help him find one of Australia’s most exceptional fintech and banking CTOs. 

Advisors include Dr. John-Paul Monck (Banking), Brad Kelly (Banking & Payments), Shaun Mcgowan (Software and Distribution) & Eliot Hastie (Media Advisor). 

The build & business 

Maslow is at the pre-product stage, working on developing a platform to offer financial services at cost, accessed through a monthly subscription.

The business model relies on generating revenue from these subscriptions. Scalability is built into the digital platform and subscription approach, aiming for wide user adoption.

Key milestones ahead include launching the platform, introducing an MVP with selected financial products, and eventually creating Maslow’s own financial products.

The long-term objective is global expansion and reshaping the financial services industry to equitably serve the community. 

The close

Expressions of interest are open on Birchal until Monday, April 1.



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