Phil Barrar

Post-pitch story

Phil Barrar and co-founder Dave Fortin started FutureMoney in 2023 to help families invest for their kids early, through what they call the Junior Roth IRA. The idea: if a child earns money from chores or a summer job, a parent can help put it to work for decades, tax-free. FutureMoney launched its micro-investing platform in May 2024 and pitched on The Pitch's twelfth season. In October 2024, it announced a $2.5 million pre-seed round. Investors included Serac Ventures, Hustle Fund, Telegraph Hill Capital, Capacity Capital, Harvest Ventures, RTL Capital, Next Wave, Mistral and The Pitch Fund. The news came out in a press release, was covered by FinTech Futures, and was confirmed in Barrar's own LinkedIn post, making it one of the best-documented outcomes of the season. Around the same time, FutureMoney joined the gener8tor Insurance & Wealth accelerator, which counts Allianz Life and Securian Financial among its partners. That's a useful link for a company whose customers are thinking about long-term savings. The plan for the money was simple: grow. FutureMoney is betting that parents want to start their kids' retirement savings at twelve instead of thirty, and that compound interest will make the case for them.