The best companies in the world are durable. These companies have defensible business models and sustainable financials, which are underpinned by the ability to deliver solutions to today’s problems while anticipating solutions to tomorrow’s. Durable companies succeed because they are both practical and audacious.

We invested in Holdings, a Utah fintech company, largely because the founders exemplify this durability. Jason Garcia has deep expertise in financial markets and the banking industry from his time at Goldman Sachs, Silicon Valley Bank and Mercury. His co-founder, Hayley Thomas, is an expert in fintech product design from her time at Clearco and Mercury. 

Despite three years of increasingly disruptive world events—from pandemics and economic volatility to social and geopolitical conflict—the collapse of several important banks in March came as a shock. Many companies, including startups and investment firms with deposits far exceeding FDIC-insured limits, faced the consequences of miscalculating institutional trust. In contrast to major challenges that companies face regularly, these consequences were existential. Fortunately for these companies, the decision was made to honor all deposits; ever resilient, these companies got back to work. But the residue of the underlying issue remained: most companies needed a better, safer way to manage their cash alongside their primary bank.

Jason and Hayley were ready. Within days of the collapse and far ahead of schedule, Holdings launched its first product: a high-yield cash management solution with up to $3M FDIC insurance and same-day liquidity. In case it’s unclear: launching a financial product that reduces risk, increases yield and has no liquidity downside is admirable. Doing this ahead of schedule, with limited resources and without sacrificing user experience is emblematic of durability. 

Frame is proud to have invested in Holdings alongside great firms like Album VC, Allegis Capital, Convoi Ventures, Fin Capital, Hustle Fund and Liquid2 Ventures. Each of us believes that all companies deserve access to best-in-class assets and cash strategies. Holdings makes it accessible for any company to keep their cash safe and growing by unlocking tools that are table stakes for large companies. Holdings is adding more than $10 million in weekly deposits as they build toward their vision of a turnkey treasury management solution for every company in the world.

Practical solution, audacious vision: the hallmarks of durability.