This revised structure aligns everyone's interests: it de-risks the deal for AFB, gives Kevin and Simon more upside through commissions, and gives Kevin more freedom to manage his own time and attention.
Why This Structure
Compared to the previous proposal (V2), this version significantly reduces AFB's commitment and defers equity payouts until performance is proven — which is what Joe requested, and Kevin agrees is a fair approach.
What changed from V2
- Budget reduced from $30K/month → $25K/month (Kevin removed from budget entirely)
- Commitment shortened from a 3-month hard / 6-month soft commitment → 60-day trial with no further obligation
- Equity payouts deferred — V2 had equity payouts starting immediately; V3 defers all payouts to Kevin until after the 60-day benchmark is met
- Higher commissions for Kevin & Simon — both now earn 10% per funded deal (up from V2), replacing upfront compensation with performance-based upside
How interests align
- AFB: Lower monthly commitment, proof before further investment, month-to-month after 60 days
- Simon: Builds and runs the product full-time with $8K/month salary, earns 10% commission on every deal, vests into equity based on performance
- Kevin: No salary — freedom to manage his own time and attention. Earns only through commissions and equity vesting after performance is proven. Guides Simon without a time commitment.
Monthly Budget: $25,000
Kevin is not on the budget. No salary, no base compensation. Kevin earns only through commissions on funded deals.
Commission Structure
Kevin and Simon earn through performance, not salary. Every funded deal splits as follows:
Notes
- If Kevin or Simon personally closes a deal as the human broker, they earn the 30% broker allocation on that deal
- If no human broker is involved in a deal, the 30% broker allocation flows into the operating account
- AFB receives 10% on every funded deal as the financial partner, regardless of involvement
- Profits remaining in the operating account are distributed monthly to all partners by equity percentage
60-Day Commitment
The only hard commitment is 60 days:
Cover existing expenses: ~$17K. Kevin and David already spent ~$17K building Fundini. AFB reimburses this amount, bringing AFB's equity from 14% → 25%.
Fund operations: $25K/month × 2 = $50K. Simon builds, runs ads, closes deals. Kevin supports Simon without taking compensation.
Benchmark: at least 1 closed deal per $10K of ad spend. If we hit it, partnership continues month-to-month. If not, either side can walk — no further obligations.
After Day 60
- Month-to-month. AFB can exit at the end of any month
- Kevin's equity vesting payments begin only after the 60-day benchmark is met, paid monthly based on continued performance
- Budget adjusts based on the economics — if ROI is strong, scale ads; if not, reduce spend
- Simon vests into equity based on performance tiers (see below)
What Everyone Gets
Beyond the ISO Model
The benchmark is based on Fundini as an automated ISO shop — but the technology has broader value:
- Outbound agent: Fundini/Melvin can proactively reach out to existing leads, aged leads, and past customers via iMessage (5–7x higher response rate than SMS/email) — reactivating your own lead database without additional ad spend
- AI services for funders: Simon can provide AI automation consulting — streamlining underwriting, document collection, and deal processing for funders and ISOs
- Whitelabel: License the full system to other ISOs and funders ($50K setup + ~$10K/month + commission percentage)
Details
Click any section to expand.
Simon's Equity Vesting
For every month that Simon is working as AI Systems Manager / Product Engineer, he vests equity drawn from Kevin & David's shared equity pool. The amount vested each month depends on which performance tier is achieved:
- Simon's equity is drawn equally from Kevin's and David's shares
- Vesting continues until Simon reaches parity with Kevin & David (equal three-way split of the non-AFB equity)
- If the partnership ends at any checkpoint, Simon keeps all equity vested to that date
AFB Equity Vesting Schedule
AFB currently holds 14%. By covering the ~$17K in existing expenses on Day 1, AFB moves to 25%.
After the 60-day checkpoint is met, Kevin's equity vesting payments resume on a monthly schedule. These payments increase AFB's equity toward 50% over time, following a front-loaded schedule:
Total equity purchase: ~$78,200. Payments only begin after the 60-day benchmark is met. AFB can exit at the end of any month.
Performance Targets
Baseline
Traditional FB lead forms cost $323–$429 per qualified application. MCA industry standard close rate: 10–15% from qualified application to funded deal.
🟢 Conservative — minimum to continue
🟡 Moderate — strong performance
🔴 Aggressive — exceptional
🟣 Rocketship — market domination
Expenses to Date (Since April 10, 2026)
Fundini Expenses — $8,795
- 🤖 Anthropic (AI API credits)$6,604
- 📊 GoHighLevel CRM (50%)$487
- 👨💻 Upwork freelancers (50%)$358
- 💬 BlueBubbles/Blooio (iMessage)$356
- ☁️ Google Cloud$345
- 📢 Meta Ads (Fundini portion)$250
- 🖥️ MacWeb server$198
- 📧 Google Workspace (20%)$121
- 🧠 OpenAI$46
- 🏦 Bank fees$15
- 🔧 Kie AI$15
Additional Capital Invested
- 📋 Kevin → Dave Coven consulting$3,000
- 📋 David → Dave Coven consulting$3,000
- 💵 Kevin → personal funds (WF balance, AMEX minimums)$2,035
Account Screenshots
Wells Fargo Business Checking:
American Express Blue Business Plus — balance $3,943.18:
Business Plan
What Is Fundini?
Fundini is a fully automated MCA (Merchant Cash Advance) brokerage powered by AI agents. A merchant texts a phone number, has a conversation with Fundini, provides business details, signs authorization, uploads bank statements, and receives funding offers — without speaking to a human broker.
Behind the scenes, specialized AI agents handle underwriting, application generation, funder matching, submission, and offer management. The system runs 24/7 and handles unlimited concurrent merchants.
The Problem
- Slow — hours to days from first contact to funding
- Expensive — broker salaries, commissions, office overhead
- Error-prone — manual data entry, missed follow-ups
- Limited by headcount
Fundini replaces the grunt work with AI that responds instantly, works 24/7, and makes consistent decisions.
How Fundini Works — The Full Pipeline
Phase 1: Lead Capture
- iMessage — merchant texts +1-516-923-1818
- WhatsApp — alternative channel
- Web forms — Greenpoint Funding, Mindful Funding, Blue Arch Funds
- Broker referrals — packets to [email protected]
Phase 2: Conversational Intake
- Merchant texts about funding
- Fundini asks intake questions
- Creates e-sign session and sends link
⏱ ~5-10 minutes
Phase 3: E-Sign + Upload
- Merchant reviews pre-filled data
- Uploads bank statements, signs, submits
⏱ ~2-5 minutes
Phase 4: Underwriting (Gabriela)
Fully automated.
- AI reads bank statements, assigns paper grade (A–D)
- Triggers application generation
⏱ ~2-3 minutes
Phase 5: Application (Larry)
- AI assembles 2-page PDF with e-signature
⏱ ~1-2 minutes
Phase 6: Submission (Melvin)
- Matches merchant to 3-5 funders from 55+ database
- Sends submissions with application + statements
⏱ ~2-5 minutes
Phase 7: Offer Management
- Funders respond → Melvin routes → merchant accepts → funded
The AI Agent Team
Funder Network (55+)
- A-paper: IOU Financial, Square Advance, Credibly, Libertas, VitalCap, Madison Advance
- B/C-paper: AFB, Reliance, NewCo Capital, Forward Financing, Rapid Finance, Radiance Funding
- D-paper/High-risk: Mantis Funding, Legend Advance, Harper Advance, Blade Funding
- Equipment: Beacon Funding
- And 30+ more with documented criteria
Infrastructure
- Mac Mini — AI agents, BlueBubbles, e-sign server, email watcher
- Hetzner VPS — WhatsApp gateway
- Hetzner VPS — fundini.io website and e-sign reverse proxy
- Domain: fundini.io
Current Status
✓ Working: Conversational intake, e-sign, bank statement analysis, application PDFs, funder matching, email submissions
⚠ Improving: Proactive notifications, session management
🔴 Planned: CRM integration, Meta Ads connection, funder APIs, outbound agent