Vijith Nair, a former bank executive, felt called to do something more meaningful with his life. His early-stage startup, FlipTree, was born out of that desire.
Nair left his senior vice president position at Bank of America in November 2019, shortly after returning from a three-week-long backpacking trip, to pursue the startup full time. He deleted 500 contacts from his phone and gave his full attention to creating a platform that would help people find everything they need from others within their own communities.
"I always had this longing to do something that made the most sense to me," he said. "FlipTree is an ecosystem that will help build those tighter-knit communities."
The mobile platform, compatible with both Apple and Android operating systems, draws a radius around a user based on their ZIP code. Then, the user can search for different types of services — from entertainment to education, pet care to home repairs — within that radius.
A user can also register as a service provider, someone who renders those services to users from within their community radius. Because FlipTree does comprehensive background checks on all potential service providers, Nair said only individuals can use the app.
"The point of the ecosystem is to empower individuals, so we do not allow any corporations or LLCs to register," he said. "The goal is to make this a self-sustaining, trusted micro-ecosystem where you're either the consumer or suppler; you're feeding or getting fed."
FlipTree launched on Dec. 1 and currently has about 100 users. Nair said the plan is to focus first on the greater Charlotte region while the platform gains traction, then begin to expand into other cities.
Nair said he wasn't planning to release the platform so quickly, but as Covid-19 continued to spread, stretching so many beyond their financial limits, he knew he could help.
"Many people who have signed up are looking at this platform as a way to help them get through these tough economic times," he said. "They're entering the field as freelancers to button up lost wages and looking at ways outside of their 9-to-5 jobs to make ends meet."
"We often see our brothers and sisters in need and don't know how to help them, but as a customer using FlipTree you're doing just that by giving someone that chance. It's a win-win for the customer and the service provider," Nair added.
Service providers pay a $9.99 monthly fee that is waived until March. Nair said the platform is free to customers and will have no advertisements. FlipTree does not take commission, so providers are paid their full service fee.
"Your startup cost is zero, and your operating cost is less than $10 per month," he said. "It gives you every reason to grab on and run with it."
