Piere, the company that offers an intelligent way to split the check, raise money in a group, and repay friends, just got smarter. Pulse 2.0 interviewed Piere founder and CEO Yuval Shuminer to learn more about the company.
Yuval Shuminer’s Background
What is Shuminer’s background? Shuminer said:
“I’ve always been in the world of business. Prior to founding Piere, I was a consultant at BCG in New York. I worked with Fortune 500 companies supporting their go-to-market, negotiation, and acquisition strategies. I also spent a year with BCG’s global research institute, the Strategy Lab, studying corporate resilience (specifically during COVID) and what enabled some businesses to be more resilient than others. I hold a B.S. from the Wharton School of the University of Pennsylvania, with triple concentrations in finance, management,and operations.”
“At Piere, we’re committed to breaking down barriers in personal finance management, ensuring it’s something anyone can tackle, no matter their financial know-how or resources.”
“Piere challenges the idea that ‘serious financial management’ demands intense manual effort and time on behalf of the user, and requires complicated platforms that look like spreadsheets or business tools. We believe that anyone can be serious about how they manage their money, and that the journey begins with tools that are automated, intelligent, intuitive, and incredibly easy to use.Our platform focuses on providing clear, personalized financial guidance for users, from complete account and transaction management to simple ‘two-tap’ budgeting, and we’re on the brink of introducing cutting-edge features designed to offer even more personalized AI-driven insights directly to our users.”
Formation Of Piere
How did the idea for Piere come together? Shuminer shared:
“My motivation for creating Piere was simple: life’s full of financial decisions, and we wanted to make them easier. Every choice, from the daily coffee run to bigger ticket items such as rent, impacts our financial health.Yet, traditional tools fall short of helping us see the bigger picture. My bank statements showed where my money was going, but not whether those choices were smart for my financial future. That’s where the idea for Piere came from—a vision to build a platform that goes beyond tracking, to actively improving your financial wellbeing through personalized insights and automation. We’re on a mission to make financial management as seamless as possible, giving you the clarity and control to make the right decisions for your future.”
Core Products
What are the company’s core products and features? Shuminer explained:
“Traditional budgeting is often a tedious, manual task that requires setting up numerous categories and lacks a practical starting point. The time required to set up and maintain a budget is a barrier for a lot of people. We’d rather our users spend their time, which is a super valuable resource, on enjoying their lives instead of manual efforts on a financial management app or struggling with financial confusion. To do that, Piere offers what we call “two-tap budgeting”, which analyzes your past spending, saving, and transactions, and then recommends a complete budget customized to you and your goals. It creates unique spending and saving objectives in just a few seconds from insights learned by analyzing your financial history, coupled with proven financial guidelines. And that’s getting more and more intelligent with every update we make.”
“Beyond budgeting, Piere extends its capabilities to include comprehensive net worth tracking, transaction management, analysis of financial trends overtime, among other features. And this is just the beginning.”
Evolution Of Piere’s Technology
How has the company’s technology evolved since launching? Shuminer noted:
“Since our launch, we’ve focused on evolving our technology to offer increasingly personalized and customizable experiences. We’ve introduced new features that enhance users’ understanding of their financial picture, making it easier to draw actionable insights. Looking forward, we’re incredibly excited about the new features we have in development. Without revealing too much, I can say that we’re working on innovations leveraging artificial intelligence that will redefine how users manage their finances. As Piere continues to develop, we want our users to rely more and more on Piere’s insights and automation, and instead of spending hours manually managing their finances, use that time to focus on the areas of life they value most.”
Significant Milestones
What have been some of the company’s most significant milestones? Shuminer cited:
“Ever since we launched at the end of last year, we’ve seen incredible adoption of the product, and every month are hitting new milestones in terms of new users, daily active users, retention,and engagement. For example, in terms of our user base, we’re growing double and even triple digits month-over-month!”
Customer Success Stories
After asking Shuminer about customer success stories, she highlighted:
“Piere really stands out for its straightforward use and how it’s tailored to fit each user’s life. I often personally interact with our users to learn about their financial pain points and their experiences on Piere. Not long ago, I was talking to one of our users, Alex, a software engineer from Austin. Despite having a decent salary, he was puzzled about where his money was going every month, feeling lost in the complexity of juggling his student loan, investments, savings, and daily spending.”
“That all started to change when Alex started using Piere. Right off the bat, he got a clear picture of his spending habits, something he hadn’t seen before. He was surprised to find out he was dropping a lot of cash on takeout, even though he loves to cook and prefers eating at home. Piere made it super easy for him to map out his spending in a way that actually fits his life and goals, showing him how much he could save by cooking more often. With our platform, Alex quickly got a grip on his finances, making smarter choices and boosting his savings and student loan repayments.”
“Alex’s experience really highlights what we’re all about at Piere. It’s not just about keeping your finances in order; it’s about giving people like Alex the right tools and insights so they can confidently manage their money and work toward financial freedom.”
Differentiation From The Competition
What differentiates Piere from the competition? Shuminer affirmed:
“When we speak to our users who come from other personal finance platforms, we hear two things that stand out in terms of why they came to Piere: the ease of use and the personalization.”
“In terms of ease of use: traditional finance apps often require extensive setup and maintenance time. In contrast, Piere streamlines the process of financial management significantly. Our platform offers a ready-to-use budget after just a few interactions, handling transaction categorization and reconciliations seamlessly. We’re proud that adding this level of simplicity has attracted individuals who shied away from the task of financial management in the past.”
“In terms of personalization: At Piere, we’ve evolved past the basic do-it-yourself approach. Our platform uses advanced analytics to understand each user’s saving habits, spending patterns, and priorities, creating a fully tailored financial plan that meets individual financial goals. In the future, Piere will grow to be even more intelligent, leveraging artificial intelligence to analyze a user’s unique financial information and offer personalized insights specific to the user.”
Growth Factors
What are the keys to Piere’s growth? Shuminer pointed out:
“We are incredibly excited by the fact that Piere’s growth to date has been primarily organic, both product-led (driven by our product features and new releases) and community-led (driven by our community, forums, and word-of-mouth).”
“We’re leaning into the curation of a community of Piere users, as we see that as a strong driver of our growth in the future. We strive to be a brand, a company, that buildstools that individuals find personally valuable. We do that through establishing personal relationships with as many people as we can, and allowing other people to connect with each other and be part of a collective community.”
“Our virtual community events allowed us to come face-to-face with several users who reaffirmed how using Piere has built confidence in not just their spending and savings goals, but in their direction in life. We backed this up with a survey of our own users and learned that the vast majority of our users feel more confident in their financial decisions thanks to our platform.”
“As a thank you to all of our early adopters, we are currently offering Piere for free for a limited time, and encourage individuals to check us out at Piere.com.”
Ultimate Goal
What is your ultimate goal? What will success look like for you? Shuminer concluded:
“Imagine a world where everyone, regardless of their economic background or education, has access to personalized financial guidance. Where making informed financial decisions is not a source of stress, but a regular part of daily life. This is the world Piere is creating.”
“Our ultimate goal at Piere is to empower every individual with the tools they need to achieve financial independence. Success for us isn’t just measured by user numbers or revenue; it’s about the positive impact we make on our users’ lives.”
