What is Crescent?
Crescent is the only business account that earns you 4.00% APY on your business's cash, with up to $75m in FDIC insurance. It takes less than 10 minutes to get started, integrates with your existing bank, and allows risk-free US Treasury Bill purchases.
Problem
Businesses currently face low yields on cash reserves held in traditional business accounts, coupled with limited insurance coverage that typically maxes out at $250,000, leaving the bulk of their capital exposed to risk and inflation erosion.
Solution
Crescent is a business account offering a 4.00% APY on business cash reserves, with an exceptional FDIC insurance coverage of up to $75 million. It integrates seamlessly with existing bank accounts, supports risk-free US Treasury Bill purchases, and features a quick setup process of under 10 minutes.
Customers
The user personas most likely to use Crescent include small to medium business owners, CFOs, and treasurers looking for higher yields on their cash reserves with enhanced safety features.
Unique Features
The unique selling propositions of Crescent include offering up to $75 million in FDIC insurance, which is significantly higher than the standard, and the ability to earn a 4.00% APY, which is a competitive rate for business cash.
User Comments
Users appreciate the high APY for a business account.
The quick setup process is noted as a positive feature.
The integration with existing bank accounts is well-received.
The high level of FDIC insurance provides peace of mind for businesses.
The option to purchase US Treasury Bills is seen as a valuable addition.
Traction
Specific traction details such as number of users, MRR, financing rounds, or recently launched features were not available. However, given the solution's unique value proposition, it's likely to attract businesses seeking higher yields with significant insurance protection.
Market Size
The global digital banking market size was valued at over $8 trillion in 2020 and is projected to grow significantly, indicating a large market opportunity for products like Crescent.
