What Happened To The GoalSetter App From Shark Tank Season 10?

As the old saying goes, money is what makes the world go round, and when looking at our world today, learning financial literacy early on is essential. No matter where you come from, understanding notions relating to spending, saving, investing, banking, and so on can majorly affect how your life plays out. Fortunately, it's never been easier for parents to instill these crucial concepts into the minds of their kids thanks to the game-changing GoalSetter app. 

Kids can start goal-based savings accounts on the app, and parents can contribute through round-up and autosave features. The app also offers a wealth of educational resources relating to financial literacy, including quizzes and games. Parents can even freeze their kids' debit cards on Sunday if they haven't taken their finance quiz for the week. 

GoalSetter is the brainchild of entrepreneur Tanya Van Court. The early 2000s saw Van Court lead a successful career in Silicon Valley, where she was given $1 million worth of stock options by her company. Things took a drastic turn in 2001 when the stock market bubble burst, bringing her earnings down to $10,000 in only a matter of hours. The experience made Van Court determined to teach her kids finances early on, successfully passing down the knowledge to her daughter Gabrielle. It became apparent to Van Court that other parents were itching to teach their kids similar tactics. Having had extensive experience creating digital educational programming for the likes of Nick Jr. and Discovery, Van Court put her efforts into creating what would eventually become GoalSetter.

Tanya Van Court appears on Season 10 of "Shark Tank" to receive a $200,000 investment for 4% equity of her financial literacy and banking app GoalSetter. She shares a wealth of statistics and information with the panel of celebrity investors, explaining the success rate of kids who learn to save early on. "Shark Tank" star Mark Cuban was intrigued, having wanted to open a savings account for his own kids. The company itself is currently in one of the top Fintech accelerator programs in the United States, connecting it with one of the country's three major consumer banks. 

GoalSetter earns money by charging $1 per transaction with an additional $0.05 transaction fee. Additionally, the company is given 1% of assets from its partnered banks under management. Currently, GoalSetter has brought in $40,000, which the Sharks wouldn't mind so much had the business not already raised well over $21 million. Van Court adds that acquiring customers has been especially difficult given that users are unsure if they are at risk of data breaches. 

While many of the investors appreciate Van Court's mission, they don't see it as a currently investable venture given the number of challenges along her path. Kevin O'Leary shows interest, liking how banks share their assets with the company. Nevertheless, he recognizes the hurdles ahead and wants a 25% equity stake. The entrepreneur tries countering with 8%, but O'Leary doesn't budge. In the end, she turns down his offer and exits the tank without a deal. 

Turning down a potentially lucrative deal on "Shark Tank" can be a painful experience for some, but entrepreneur Tanya Van Court was more than pleased with her appearance on the hit ABC series. Speaking with Her Agenda in 2021, the GoalSetter app creator shared, "It was amazing to have been on Shark Tank. They are literally still replaying the episode as we speak. And so it's a wonderful thing. It's been wonderful exposure for us and I'm grateful for the opportunity."

Regardless of the initial outcome, it did little to deter Van Court's momentum. 2021 would be a fruitful year for GoalSetter, starting with the team closing a $3.9 million seed funding round in January. The collection of notable investors included NBA stars such as Kevin Durant and Baron Davis, actor Sterling K. Brown, and philanthropist Robert F. Smith. The following month would see Mark Cuban join the company as a strategic partner in its efforts to get one million kids their first savings accounts, with a special focus placed on educating youth in the African American community. 

In a similar vein, Nike became involved as part of its $140 million efforts to tackle racial inequality, donating $1 million to GoalSetter. The collaboration was a dream come true for Van Court, who told AfroTech, "The beautiful thing about Nike really turning up the sound on our music is that now that music can be heard throughout the Black community. Every one of our kids and families and anyone who has a kid in their life should be signing them up for Goalsetter ... "

GoalSetter is still up and running as of this writing. Parents who want to teach their kids financial literacy can download the app for free on either the iOS App Store or Google Play. It sports solid reviews on both platforms, with a four out of five rating average on Google Play and a 4.2 out of five on the App Store. Overall, while some reviewers have experienced minor issues with accessing funds, it has largely been embraced as a great educational tool for kids and parents alike. Following a 30-day free trial, users have the option of paying a $3.95 or $5.95 monthly fee for the service. 

Along with the app, GoalSetter also provides services and partnership opportunities with financial advisors, banks, credit unions, and schools looking to offer educational opportunities. Among its many partners include Delta Air Lines, Nike, American Express, The Eagle Academy Foundation, and more. Founder Tanya Van Court has continued to rack up accolades, such as being placed on Forbes' Next 1000 in 2021 and Inc. Magazine's 100 Female Founders in 2022, while the app itself was named one of Apple's Top 24 Apps for 2024.

Even without an investment from the Sharks, GoalSetter has proven to be a worthwhile endeavor for founder Tanya Van Court. Her company has managed to gain major partners, raise millions in funding, and garner a loyal fanbase. Even with such accomplishments, the team still has big dreams for future endeavors. 

In 2020, the company shared plans to launch a new interactive section of its app called the Cred-Lit score, the app's version of a credit score that fluctuates depending on how kids perform on their financial literacy quizzes. Along with plans to incorporate the feature into the app, the team is attempting to find ways of making the score carry some legitimacy in the real world. "It measures how financially literate a kid is, and our plan is to work with credit bureaus to get them to use this Cred-Lit score to give kids better interest rates, loan terms and other financial instruments when they turn 18," Van Court shared with Medium. While it may take time to see such change hit the mainstream, it's not hard to envision GoalSetter eventually becoming one of the best budget or financing apps.