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What's Happening in Treasury with Cat Berman (CNote)
Episode Highlights:
- How did the idea for CNote originate?
At the intersection of social responsibility and financial services, CNote was born out of the need to align large institutional investors' values with their cash and fixed income portfolios. Cat, the founder, observed a growing interest among major clients to invest in socially responsible or ESG (Environmental, Social, and Governance) assets. Recognizing the lack of options in the cash and fixed income space, Cat saw an opportunity to create a scalable solution that would enable investors to allocate their funds in alignment with their values, while addressing the wealth gap in underserved communities.
- What motivated Cat to transition from a large financial services firm to launching CNote?
Cat's personal motivation stemmed from witnessing the widening wealth gap in the United States, juxtaposed with the increasing interest in values-aligned investments. Fueled by a desire to make a meaningful impact and promote financial inclusion and diversity, Cat left her position as a managing director to start CNote. The goal was to create a tech platform that could facilitate the movement of cash and fixed income from corporations and foundations into community finance, ultimately serving the larger good.
- What was Cat's founder journey like, transitioning from a large institution to starting a business?
Cat had a natural inclination toward problem-solving and entrepreneurship throughout her career. Even while working in a large corporation, she consistently gravitated towards creating new opportunities and solving market challenges. The decision to start CNote allowed Cat to combine her passions for finance, technology, and driving economic justice. Building a mission-driven startup was both exciting and challenging, as it required balancing financial stability and profitability with a commitment to a larger societal issue.
- How does being a mission-driven startup differ from a typical startup?
Being a mission-driven startup brings a unique level of excitement and difficulty. The privilege of working on a problem that deeply matters on a societal level is a motivating factor for the team at CNote. Their commitment to the mission attracts talented individuals who share the same passion. However, balancing financial stability with the pursuit of a mission is a constant challenge. Cat emphasizes the importance of establishing a solid business model and a growth plan to sustain a mission-driven company.
- How does CNote approach team diversity and why is it important?
CNote values and prioritizes team diversity. With an exceptionally diverse team, CNote benefits from attracting talent through networks that are already diverse. Intentional efforts are made to ensure diversity in the hiring process. While it requires additional work, the commitment to diversity is reflected in the team's low turnover rate and the high number of applicants for every job posting.
- How does CNote operate within the corporate treasury space, and how has recent events like the SVB crisis influenced the mindset of enterprises regarding cash management?
CNote's focus lies within the corporate treasury space, working with corporate treasurers and CFOs to optimize their cash management. The recent SVB (Silicon Valley Bank) crisis and other similar events have shifted the mindset of enterprises. The conversation has moved from seeking yield opportunities to emphasizing capital preservation and risk mitigation. CNote's solution, which prioritizes capital preservation and offers complete transparency to banking partners, proved valuable during these events. The crisis prompted a heightened interest in CNote's approach, particularly in managing cash and providing exposure control and transparency.
- Will CNote expand its solution to cater to mid-market and small business customers in the future?
While currently focused on serving enterprises, CNote recognizes the vast opportunities within cash management for mid-market and small business customers. The scalability of their solution allows them to move towards these markets. CNote acknowledges the demand and plans to broaden its reach beyond enterprise clients to support a wider range.
About the Guest:
- Catherine Berman on Linkedin
- CNote website
Interested in keeping up with the latest in FinTech and Retail Tech? Check out our website to learn more about us and follow our social media to stay up to date.
Follow Commerce Ventures:
Medium
View all episodes
By Commerce VenturesEpisode Highlights:
- How did the idea for CNote originate?
At the intersection of social responsibility and financial services, CNote was born out of the need to align large institutional investors' values with their cash and fixed income portfolios. Cat, the founder, observed a growing interest among major clients to invest in socially responsible or ESG (Environmental, Social, and Governance) assets. Recognizing the lack of options in the cash and fixed income space, Cat saw an opportunity to create a scalable solution that would enable investors to allocate their funds in alignment with their values, while addressing the wealth gap in underserved communities.
- What motivated Cat to transition from a large financial services firm to launching CNote?
Cat's personal motivation stemmed from witnessing the widening wealth gap in the United States, juxtaposed with the increasing interest in values-aligned investments. Fueled by a desire to make a meaningful impact and promote financial inclusion and diversity, Cat left her position as a managing director to start CNote. The goal was to create a tech platform that could facilitate the movement of cash and fixed income from corporations and foundations into community finance, ultimately serving the larger good.
- What was Cat's founder journey like, transitioning from a large institution to starting a business?
Cat had a natural inclination toward problem-solving and entrepreneurship throughout her career. Even while working in a large corporation, she consistently gravitated towards creating new opportunities and solving market challenges. The decision to start CNote allowed Cat to combine her passions for finance, technology, and driving economic justice. Building a mission-driven startup was both exciting and challenging, as it required balancing financial stability and profitability with a commitment to a larger societal issue.
- How does being a mission-driven startup differ from a typical startup?
Being a mission-driven startup brings a unique level of excitement and difficulty. The privilege of working on a problem that deeply matters on a societal level is a motivating factor for the team at CNote. Their commitment to the mission attracts talented individuals who share the same passion. However, balancing financial stability with the pursuit of a mission is a constant challenge. Cat emphasizes the importance of establishing a solid business model and a growth plan to sustain a mission-driven company.
- How does CNote approach team diversity and why is it important?
CNote values and prioritizes team diversity. With an exceptionally diverse team, CNote benefits from attracting talent through networks that are already diverse. Intentional efforts are made to ensure diversity in the hiring process. While it requires additional work, the commitment to diversity is reflected in the team's low turnover rate and the high number of applicants for every job posting.
- How does CNote operate within the corporate treasury space, and how has recent events like the SVB crisis influenced the mindset of enterprises regarding cash management?
CNote's focus lies within the corporate treasury space, working with corporate treasurers and CFOs to optimize their cash management. The recent SVB (Silicon Valley Bank) crisis and other similar events have shifted the mindset of enterprises. The conversation has moved from seeking yield opportunities to emphasizing capital preservation and risk mitigation. CNote's solution, which prioritizes capital preservation and offers complete transparency to banking partners, proved valuable during these events. The crisis prompted a heightened interest in CNote's approach, particularly in managing cash and providing exposure control and transparency.
- Will CNote expand its solution to cater to mid-market and small business customers in the future?
While currently focused on serving enterprises, CNote recognizes the vast opportunities within cash management for mid-market and small business customers. The scalability of their solution allows them to move towards these markets. CNote acknowledges the demand and plans to broaden its reach beyond enterprise clients to support a wider range.
About the Guest:
- Catherine Berman on Linkedin
- CNote website
Interested in keeping up with the latest in FinTech and Retail Tech? Check out our website to learn more about us and follow our social media to stay up to date.
Follow Commerce Ventures:
Medium