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Wednesday, October 24, 2018

Fresh from landing a $100K investment deal for his cryptocurrency app on ABC's Shark Tank - we spoke to 'Bundil' CEO Dmitri Love...

On Sunday's episode of ABC's "Shark Tank" we saw Dmitri Love pitch his company Bundil, a mobile app for investing in cryptocurrencies to the sharks - landing a $100K investment and a 50/50 business partnership with Kevin O'Leary, AKA "Mr. Wonderful".

The concept behind the app works by automatically investing a users spare change into the cryptocurrency market.  If you spent $9.50 somewhere, the app will automatically round up to the nearest dollar, investing $0.50 into your crypto portfolio in the app, which currently features Bitcoin, Ethereum and Litecoin.

We spoke to Dmitri about what the experience was like, and what to expect from his company moving forward.

- What's your professional background before this, and what got you into cryptocurrency?

Good question. I'm a self taught software engineer. I studied biochemistry in college and in my third year I had a horrible knee injury playing competitive soccer.

I was on crutches for about 9 months and during that time I taught myself how to code! I ended up dropping out and going head first into software development. My uncle and business partner, is a successful futures trader so he kind of got me into the investment scene. It didn't take long to discover crypto and once I understood the underlying technology, I fell in love with the concept. 

-  What motivated you to go from a crypto trader, to developing the Bundil app and working in this space full time?

 I saw other micro-investment apps doing well and immediately saw the gap in the market. No one was applying the approach to crypto and I knew it would be a powerful tool to engage people that are less educated about crypto. During last years boom, a lot of my friends and family kept asking what the easiest way to invest was. From there I knew I was on to something. 

- Before you presented to the Sharks, how did you think they would receive it?

I predicted the outcome almost exactly besides my pitch. I knew Lori wouldn't understand it enough to invest, and I knew Mark had a competing company that would put both of them on the fence. I didn't expect Daymond to be so bearish about crypto either. Kevin, and the guest shark Matt were my main targets. Matt went out because he is an investor in Coinbase, which we use for our system. 

- Kevin O'Leary AKA Mr. Wonderful ended up investing, we covered his views on cryptocurrency before - so far all we really know is he's a fan of Ethereum, (read that article here) has he shared any of his other thoughts on the future of the space?

He thinks it's volatile currently, as he should. But I know that he is very interested in the underlying blockchain technology. Back in May he participated in that mysterious real estate ICO. Even I don't know much about that. He also has an in on the legality of crypto. He said during my pitch he is going to help me with litigation and legality regarding SEC upcoming regulations.  

- You took a deal that that gave up a lot of equity in your project, 50% - which means you must believe Kevin O'Leary has a lot to offer, now with him on board - whats your road map looking like? 

Kevin is a great partner. His track record is amazing with 50% deals. And I know if he doesn't put in his work, the business fails. So I know he will do all he can to ensure our success. Which is really cool and one of the key reasons I accepted the offer. He wants to help bring us to the top, and shares our vision on bringing crypto to the masses.


The Bundil app is available already on iOS and Android platforms, find out more on their website at https://EnjoyBundil.com

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Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM
San Francisco News Desk