UseMyBank

online payment service

The ask$1,000,000for 5% of the business

Implied valuation$20Mask / equity

On-air resultOffer declined

Founders: Brian Crozier, Joseph Iuso

On the record

The deal, on the record

UseMyBank pitched for $1,000,000 in return for 5% equity.

Season: 5, ep 11
On-air outcome: Turned the offer down
Deal terms: CAVEAT, READ BEFORE USING: the Dragons countered the 1M for 5% ask with 1M for 40% and Iuso and Crozier refused. The article is dated May 7 2010 and describes their FIRST appearance; the S5E11 entry in the file is the later Second Chance episode (aired Jan 12 2011), which the same article says was still unaired ("The segment is expected to air some time this fall"). The ask string matches exactly (1M for 5%), so this is very likely the same negotiation replayed, but the second-chance outcome is not independently sourced. Verify before publishing as S5E11.
Category: Tech and Software

Tracked by Dragons Den Hub. Deal terms come from the aired episode; availability reflects our latest check only.