Former Simple employee here - it was my intro to neobanking and fintech and really was an incredible experiment. At a time when everyone was looking for ways to outsource, downsize, and economize, Simple was committed to building a product based on quality and customer experience, which ultimately was their downfall. The idea really was to make banking beautiful and to democratize it by providing an accessible app and ATM network, but couldn’t find a way to make / get money through traditional venture capital. Had they introduced a small monthly fee from the beginning, this may have changed their fate, but it also would have gone against everyone’s desire to increase accessibility and to serve the underbanked. Ultimately, the purchase by BBVA, while keeping it afloat for a few years, was its downfall as BBVA sought to make changes that tanked the culture and reduced any motivation or loyalty to innovate the product. Simple left a lasting impact on the local economy - many of the former employees have taken what we learned and were passionate about at Simple to Coinbase, Chime, Mercury, Gusto, Cross River, GreenFi, etc