Investing in their own future: Why an investment app chose Panther

Case Studies
Panther
February 10, 2021

Grifin is a brand new app that allows users to automatically invest in the companies they shop at. Grifin turns consumers into owners by integrating investing into everyday purchases.

The app uses patent-pending technology to invest $1 into fractional shares at public companies where the user shops. For example, for every purchase spent on Amazon, $1 is invested in Amazon stock.


Meet the team

Aaron Froug is the Founder and CEO of Grifin. He is passionate about helping the next generation to improve their investing mindset.  

The company's goal is to turn the financing world on its head, delivering a "finance app that's everything but finance" while using boundary-pushing companies like Walt Disney World, Apple, and Tesla as models.

Aaron Froug, CEO of Grifin, at the NYSE

HQ: Tampa, Florida

Industry: Personal Finance and Investing

Team Size: 8 employees in 3 countries

Website: https://www.grifin.com/

“Before Panther, I didn't know international hiring was possible and it wasn't something I considered. I didn't understand the fact that I could bring somebody onto my team from 5,000 miles away and that they would work with us like anyone else. It's amazing to see how talented the global workforce is. I feel fortunate that I'm no longer limited to the mindset I had before partnering with Panther.”

- Aaron Froug, CEO

How Grifin Doubled Their Runway and Growth with Panther

With Panther, Grifin was able to hire two full-stack software engineers in Eastern Europe for a third of the cost of similar-quality hires in the US. This gave Grifin a huge advantage— after spending three months trying to fill the roles in the US, they quickly found highly skilled candidates abroad, and at a fraction of the price. They invested the savings into growth.

“Panther has allowed us to bring on exceptional engineering talent at a price unheard of to most startups. We were able to hire two gifted engineers in Macedonia for half the price of one in the States. I almost wish we could keep Panther a secret.”

- Bo Starr, COO

Only 4.25% of the world's population live in the United States, so when Grifin decided to open up their hiring to the entire world, the recruiting pool grew exponentially.

The process of international hiring, simplified

By using Panther, Grifin was able to seamlessly integrate their international hires onto their team. That's because, with Panther dealing with compliance with local laws, Grifin could keep business as usual, without ever being distracted from work that matters.

“We didn't spend a second thinking about the legal complexity. Panther took care of everything."

- Aaron Froug, CEO

No signs of slowing down

Since using Panther to hire teammates in Eastern Europe, Grifin was able to double its growth. Within a couple months after the engineers were onboarded, they built Grifin's referral system, leading to a 1,300% increase in total downloads.

Grifin was recently approved as an SEC-Registered Investment Advisor and now has thousands of people on their waitlist.  

Takeaways

  • Grifin was able to double its headcount without increasing burn by hiring its technical team in Eastern Europe with Panther.
  • Given the additional hands, Grifin could make more progress faster, and they grew to be the #2 finance app on the app store, receiving over 100,000 downloads per day, within the first few months as a result.
  • Panther took care of all the red tape, and Grifin was able to focus on real talent, rather than location.