Proof of Usefulness Report

SimplyWise

Analysis completed on 1/30/2026

+495
Proof of Usefulness Score
Industry Mainstay

SimplyWise is a verifiable Series B fintech company backed by QED and Village Global, with over $12M in funding and ~1.2M users. The project has high real-world utility in expense management and receipt tracking for tax purposes. However, the submission itself was of extremely low quality (citing 'leadership' as technology and claiming 'most people' have used it), which significantly impacted the Response Quality and Innovation metrics. The final score reflects the strong external reality of the business, penalized by the poor data provided.

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Score Breakdown

Real World Utility+225.0
Audience Reach Impact+96.0
Technical Innovation+30.0
Evidence Of Traction+170.0
Market Timing Relevance+80.0
Functional Completeness+2.5
Subtotal+603.5
Usefulness Multiplierx0.82
Final Score+495

Project Details

Project URL
simplywise.com
Description
We’re an experienced team of builders who’ve founded startups and worked with some of the largest financial institutions and companies in the world. We’re backed by powerhouse advisors, as well as Deciens, QED (known for Capital One, Credit Karma, SoFi, NuBank, Remitly, Avant, etc.), Village Global (backed by Jeff Bezos, Bill Gates, Mark Zuckerberg, and more), and more.

Algorithm Insights

Market Position
Strong market validation with clear user adoption patterns
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline