finbar

What do they actually do

Finbar provides an AI research assistant for investors. Users enter a ticker or upload source materials (filings, earnings transcripts, PDFs, links) and receive concise outputs like summaries, pros/cons, key risks, and a structured memo or checklist. The product supports follow‑up questions so users can drill into specific topics without reading entire documents.

Outputs are designed to be copy/paste‑ready for notes or client reports, with options to save, share, or export to common tools (e.g., PDF, Notion, Slack). Like most AI tools, results require human review, and accuracy depends on the quality and recency of inputs and connected data feeds.

Who are their target customer(s)

• Independent active investors (DIY/investor‑operators): They spend hours reading filings and news but struggle to turn it into a concise, actionable view; this leads to missed risks or slow decisions. They want fast, reliable summaries and clear follow‑ups they don’t need to rewrite.
• Analysts at small buy‑side shops or microcap funds: They cover many names with limited staff and uneven junior output. They need consistent, checklist‑style research with clear sources so seniors can review quickly instead of rebuilding.
• Registered investment advisors (RIAs) and advice teams: They must produce client‑ready rationales and maintain compliance records across many portfolios. They need short, well‑sourced write‑ups and audit trails to make recommendations defensible and repeatable.
• Early‑stage VC/angel investors and corp dev associates: They screen many companies with incomplete information under time pressure. They want quick, structured diligence notes that flag business, team, and market risks to decide whether to dig deeper.
• Portfolio managers and PM teams monitoring positions: They need fast refreshes on thesis, catalysts, and new risks across many holdings. They want concise alerts and a centralized view of source‑backed changes so they can act without rereading every filing or article.

How would they acquire their first 10, 50, and 100 customers

• First 10: Run week‑long, hands‑on pilots with power users from the founders’ network and YC intros (independent investors, microcap analysts, one RIA), manually vetting outputs and capturing time‑savings case studies and testimonials.
• First 50: Do targeted LinkedIn/email outreach to small buy‑side shops, independents, and VCs; host two live demos with real memos and offer limited free trials. Convert pilots to paid with templated outputs, simple onboarding, and referral credits.
• First 100: Publish a library of sourced example memos and how‑to guides to drive inbound; add in‑app sharing/export and open self‑serve trials. Add a light sales motion for RIA/microcap pilots and pursue partnerships (newsletters, aggregators, integrations).

What is the rough total addressable market

Top-down context:

The market spans individual investors, small funds, RIAs, VC/angel teams, and PM teams that pay for tools to speed research and produce defensible write‑ups. Enterprise adoption (RIAs, PM teams) drives larger average contract values.

Bottom-up calculation:

TAM is estimated by segmenting buyers and multiplying reachable customer counts by annual revenue per customer across scenarios. Near‑term TAM is roughly $40M–$250M/year, with an aggressive case around ~$1.43B/year driven by enterprise seats.

Assumptions:

• SaaS sold to individuals and teams with higher‑priced enterprise tiers for firms.
• Initial focus on the US and developed markets with established capital‑markets activity.
• Enterprise adoption meaningfully increases ARPC via multi‑seat and compliance features.

Who are some of their notable competitors

• AlphaSense: Searchable filings, transcripts, research, and news with AI summarization; strong at document discovery for enterprise research teams, overlapping on search/summaries more than memo drafting.
• Sentieo: Finance research workspace combining document search, financial data, notes, and Excel/model links; emphasizes structured data and team workflows vs. automated memo generation.
• Bloomberg Terminal: Comprehensive market data, news, analytics, and execution used by large institutions; competes for institutional budgets when real‑time data and full workflow coverage are required.
• S&P Capital IQ: Deep company fundamentals, screening, and Excel integrations for corporate finance and buy‑side research; strong data provider, while finbar focuses on synthesized analyst‑style narratives.
• Koyfin: Market‑data and charting platform for independents and small teams; overlaps on screening/monitoring, while finbar aims to convert signals and documents into structured theses and risk flags.