Episode 100: For our century episode we kick off the holidays and are joined by Daniela Corrente of Reel!

Hello and welcome to another episode on Pandocap. Today we have Daniela Corrente, founder of Reel.

Q: Can you please share a little bit about your journey with our audience?

A:  I’m a marketer by trade and I really got into starting my own company because of curiosity. I believe many founders start because we get very passionate about specific topics. We like to think that we are rational beings but when it comes to finances, emotions drive a lot of the decisions that we make. Back in the early 2000s these experiences with a credit card happened to me. A couple of years back I realized that there was a rise in savings platforms and a rise in Buy Now Pay Later. There was something very important in the market that was missing - and it was ‘Safe to Buy’. Through Reel, it’s a new “lay-away” in a sense, where you can easily lay money aside for purchases so you can achieve your goals without having to go into debt - and that’s what we’ve done with Reel. 

Q: Who are your customers? 

A: One thing that’s very, very interesting about our customer is that 85% of our users are female, which is not your typical demographic. 67% of users are Latina and Black women which is actually way more special because it’s not the typical demo that is engaging with savings; and I’m so incredibly proud of that. I’m proud of giving these women accessibility to show them, ‘yes you can - yes you can use your cash flow over time’. 

Q: How does Reel work? 

A: The way that reel works is that if you want a new pair of shoes or a stroller for your kid, we tell you ‘Laura you can have it in 45 days if you put $5 in everyday’. We automate your savings. We work with retailers to find you the best deal. You actually get a percentage back on every dollar you set aside. And what this does is take away the guilt at the end of the equation because when you complete saving, that’s it - it's yours. You’re not going to get a statement. You don’t get penalties. You don’t get fees. If you change your mind along the way, you can pause or change your strategy. We’re giving people flexibility to see the potential of their own cash flow over time. 

You’re giving them real buying power. 

Yes!

Q: We are coming up on the holidays. What are you excited to share with our audience and how can you help them during these times? 

A: The holidays are a perfect time for Reel because we all know we’re going to spend money over the holidays. I know I’m going to fly to see my parents - there’s no way around it. I know tickets get more expensive as Christmas gets closer. I know that I have to buy presents. For parents in general, you have to buy presents. It becomes very expensive very fast, as much as we love the holidays. With shoppers starting to save ahead of time for holidays presents and holiday budgets, we see it now more and more where people are setting up a certain amount of money because they know that they can use that in December instead of having to put that lump sum of money all at once. The holidays are a season in which we highly recommend people start using Reel ASAP. 

Thank you Daniela, thank you for coming on the Pandocap show. 

We look forward to highlighting your success not only today but for many years to come. 

Thank you so much for you and everyone that listens to this. Check us out at www.joinreel.co and feel free to leave some comments or share this.