Boost Money — Post-MVP
Part 2 of 2
Boost Money 2.0: Improving on the MVP
Focusing on lower acquisition cost, higher conversion, and less spent on unused accounts.
Impact · 3–4 months after the Boost Money 2.0 release
~5x
Premium revenue
From about $1.5K in Jan–Feb to about $8K by March.
~2x
weekly account opens
From about 2–2.7K in February to a ~6.4K peak, and still ~4.7K on 3/22.
+76%
new account open rate
Up from 70%
−66%
cost per BoostCash
Decreasing costs from required complimentary account opening and payment flexibility
70%
of customers choose EBA for their first BoostCash
EBA = external bank account.
90%
of Premium subscribers got BoostCash
Previously 63%.
The product
The updated experience adds new Premium features, including express delivery, so members can get their cash advance in minutes.
Premium features in the updated preview: express delivery, 10% APY savings, and protections.
Context
The problem
- Eligibility came too late. To get a cash advance, users had to open the credit-builder account first, then check eligibility. Some opened an account only to learn they didn't qualify, then abandoned. Each one cost Upgrade money.
- The account went unused. Of users who did get a cash advance, 87% never used the credit-builder account.
The business goal
Prioritize cash advance qualification. The next release also added express delivery fees as a revenue source, which Premium subscribers get for free. That made both eligibility and Premium sign-ups matter more.
The constraint
The all-in-one structure stayed: users still open a spend account to get a cash advance. So the fixes had to be new stipulations around the flow, not a new structure.
The goals
- Lower the cost of acquisition
- Raise signup conversion
- Improve Premium payment flexibility
- Reduce the cost of unused accounts
What changed
Three Stipulations
- Check eligibility first: users who don't qualify can cancel before opening an account.
- Payment flexibility: pay for Premium from an external bank account or debit card, and detect paychecks for eligibility.
- Card optional: no card until the user asks for it or funds the account.
1 · Eligibility moves into the application
Users used to open an account before learning whether they qualified for a cash advance. With Plaid, the eligibility check now comes first, so users who don't qualify can cancel before opening anything.
Original flow
Enrollment
Cash advance eligibility
Account opened before eligibility. Users had to open an account before seeing if they qualified for a cash advance.
Updated flow
Enrollment
Cash advance eligibility
Enrollment
Eligibility moved ahead of account opening. Users now see if they qualify before an account is opened, and can cancel if they don't.
Bank account linked through Plaid. This one account helps with eligibility, money disbursement, and payments.
2 · Payment flexibility
Users can now pay for Premium with an external bank account or a debit card, not just the account they just opened. The bank connection also lets us detect paychecks to check eligibility.
Original flow
Only one way to pay. Users could only pay from the account they had just opened, and most hadn't put any money in it yet.
Updated flow
More ways to pay. Users can pay with an external bank account or a debit card.
3 · Card optional
Every new account used to get a card, but most people who opened one were only here for the cash advance and never used it. Now users request a card, or we send one automatically once they use the account.
Original flow
A card for every account. Every user who opened an account was sent a card, but most were only here for the cash advance and never used it.
Updated flow
Card on request. Users request a card themselves, or one is sent automatically once they use the account.
How the changes map to the goals:
- Lower acquisition cost: fewer wasted accounts from users who don't qualify.
- Higher signup conversion: users learn whether they qualify up front.
- Premium flexibility: paying from an established account, not just a newly opened one.
- Cost of unused accounts: no card is sent until the user requests one or funds the account.
The results
Growth, 3–4 Months After 2.0
- Cheaper acquisition: social media brought in account opens at $1.70 each, lower than previous channels.
- Premium took off: the vast majority of EBA users opted to subscribe. Users no longer had to pay with an account they'd just opened. They could use one where they already got paid.
- Next: gradually scaling up marketing to get more data.
Results since the 2.0 release.
Account opens vs. cumulative revenue since launch. Opens and Premium revenue climbed sharply from March 2026.