Fundini — Proposal V3
Prepared by Kevin Ellerton · July 6, 2026
A revised, de-risked structure that aligns everyone's interests: minimum commitment for Ben & Joe, operational focus for Simon, and freedom for Kevin to pursue psychology full-time.
Why This Revision
The original proposal asked for a larger upfront commitment over 3–6 months. After our conversations, it's clear that everyone's interests are better served by a leaner structure:
- Ben & Joe want low risk — proof before commitment, not the other way around
- Simon wants to build and scale the product — he's ready to run it day-to-day
- Kevin is shifting focus to his psychology career at NYU — splitting attention has been hurting both Fundini and the meditation businesses for months
This structure lets everyone get what they want while keeping the total commitment small and fully performance-gated.
The Deal
Kevin steps off the budget
No salary for Kevin. Kevin removes himself from the monthly budget entirely and will not take any personal financial benefit until the system is proven. Kevin continues to support and guide Simon — but without a time commitment or compensation. Half of Kevin's ongoing commission upside and equity goes to Simon, who is shouldering the work.
Monthly budget: $26,000 (down from $30K)
Simon — AI Systems Manager / Product Engineer$8,000
Meta Ads$7,000
Infrastructure (AI credits, SaaS, servers, phones)$6,000
Misc dev, marketing & admin$5,000
Monthly total$26,000
60-Day Commitment
The only hard commitment is 60 days. Here's exactly what that looks like:
Day 1
Cover existing expenses: ~$17K. Kevin and David already spent ~$17K building Fundini (AI credits, servers, infrastructure, consulting). AFB reimburses this amount, bringing AFB's equity from 14% → 25%.
Days 1–60
Fund operations: $26K/month × 2 = $52K. Simon builds, runs ads, closes deals. Kevin supports Simon without taking compensation.
Day 60 — Checkpoint
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.
Total 60-day commitment: ~$69K. That's it. No long-term lock-in. No equity payouts to Kevin until after the benchmark is proven.
After Day 60
- Month-to-month. AFB can exit at the end of any month — no commitment beyond the next 30 days
- 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 we're seeing — if ROI is strong, scale ads; if not, reduce spend
What Everyone Gets
Ben & Joe: Total risk of ~$69K over 60 days. No equity payments to Kevin until results are proven. You see closed deals before committing further. Month-to-month after day 60. Equity increases from 14% → 25% just by covering existing expenses.
Simon: $8K/month to build and run the product full-time. Half of Kevin's commission upside. Performance-based equity vesting. Gets to build and scale an AI product with real revenue potential.
Kevin: Expenses reimbursed. No salary, no upfront equity payout — those only come after the system proves itself. Free to focus on psychology at NYU. If it works, Kevin benefits. If it doesn't, Kevin received nothing beyond expense reimbursement.
Beyond the ISO Model
The performance 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 your existing leads, aged leads, and past customers via iMessage (5–7x higher response rate than SMS/email). Not just inbound — it can reactivate your own lead database.
- AI services for funders: Simon can provide AI automation consulting to funders — streamlining underwriting, document collection, and deal processing
- Whitelabel: License the full system to other ISOs and funders
Timing
A key AI development tool (Claude Fable) is being removed from Anthropic accounts tomorrow. Simon needs it to build and improve the system. The longer we wait, the harder and more expensive development becomes.
Kevin is also getting deeper into the NYU psychology program — the longer this drags, the less available he'll be to support the transition. This is the best window to move.