#2 Founder's letter: Momentum is growing
Published: February 8, 2026
·2 min readThis week felt chaotic - I welcomed the first 2 paid monthly subscribers. Both immediately pushed the system and surfaced several hard limitations in the current setup.
It seems like they're both small businesses with multiple accounts across multiple banks. That use case makes a lot of sense to me - They're essentially trying to get an overview of their financial health.
I'm becoming more and more bullish on product-founder fit. It's just extremely cool to see statements being uploaded from all over the world. The audience is global from day one, which oddly feels like traveling while building. I've spent a lot of time getting the foundations right, and that's starting to compound. The tool is language-agnostic, and simply by adding a "banking dictionary", 15 minutes later, it was able to parse a Canadian French statement correctly.
Bankstatemently prend désormais en charge le français (bêta) 🇫🇷
Things I'm struggling with most
- Observability · Taking time to build internal mini-features that'll improve visibility. I only just now pushed my admin panel live. The lack of visibility creates unnecessary anxiety, so this is like self-care. But of course, user-facing, it also improves trust and explainability
- Compounding Engineering · Inspired by Every Inc. and a recent thread by the builder of Fintool.com. It's no longer about writing specs in markdown - it's about invoking that skill while building, then sharpening it through feedback loops. That's where momentum comes from
- Taste transfer · I feel I am already building/releasing very fast, but it's still that transfer (and retention) of taste to the AI agent that's a bottleneck. I'm approving and conducting too much still. At the same time, I don't believe an extremely well-built, opinionated product can be built by AI alone yet. It needs human judgment
What's next
Product-wise, the roadmap feels pretty clear, but for next week, I'm still refining some things for higher accuracy. Correctness > features. After that, these premium features are coming up: a user dashboard with document history, multi-statement support in a single PDF, and true multi-table detection.
I'm consciously not pushing a lot on distribution. There's a healthy balance right now between things breaking (and getting fixed) and growing usage. Even with minimal effort, I'm already seeing latent demand from SEO alone. Bankstatemently is not even ranking anywhere near the top yet (≈ SERP 60 for "bank statement converter"), but it's already generating impressions and clicks.
I'm also trying to reduce noise as much as possible. While it's important to stay aware of what's happening in the space, I'm deliberate about what I engage with and which new shiny tool dominates the public discourse.
So all in all - Still early, but the signal is getting clearer.
Building in public, one statement at a time.
Michael · Bankstatemently
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