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Scout (Techstars '23)’s Post

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Scout (Techstars '23)

1,829 followers

2mo

NIL opened doors for athletes, but few had the tools to understand how to maximize their earning potential. When NIL hit, we saw athletes scrambling to figure it all out—where to invest, how taxes work, what being an independent contractor even means. When we created Scout, people thought athletes wouldn’t care about our mission or that managing their money should just “come naturally.” At Scout, we see it differently. These athletes deserve a tool that meets them where they are. We’re here to help guide them, with real-world financial support built for their journey. Scout is built by athletes, for athletes and we are committed to helping you level up on your financial journey. #NIL #Finances #SCOUT #CollegeAthletes

Transcript

I remember being there when I hit and hearing conversations from players say I'm getting X amount of dollars, what's independent contractor mean? How do I do my taxes? Where should I be investing money? How do I say in all these conversations, I realized there was nowhere for players to go. There was no tool for them. There was no support system. So, you know, we had the idea. We had some great believers in US, you know, four years ago when we started this and people said we were crazy. People said, you know, this will never work. A players don't care. They don't need any. Oh, they got the money. They got to figure out themselves. You gotta have somebody helping guide you. This stuff you don't wake up and say I'm gonna go to this bank and get a high yield savings account, right You need somebody helping you navigate that stuff. So for me it was let's meet these players where they are give them a tool to navigate and control their own financial future right because the person that you care most about their money is that athlete. You want to give them the tools to be able to take control and guide themselves on this journey with the support of our tech platform and that's kind of where scout was born and we're just getting.

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