IT Worker Quits After Relocation Request, Uses Severance Pay To Launch Business In 90 Days

Announced on the beatmaker’s podcast he hosted, the launch of Modbap Modular was met with overwhelming demand, forcing Banks to increase his orders multiple times just to keep up

Modbap Modular, officially launched in October 2020, was Banks’s solution to a gap he identified in the market

Source : Pexels

When Corry Banks received a severance offer from his corporate IT job, he saw it not as an ending but a unique opportunity to create something of his own. Using his severance as seed money, Banks founded Modbap Modular, a boutique manufacturer of electronic music equipment. Within three months, he designed his first product, developed his brand, and launched the company. Today, Modbap Modular’s products are sold in over 40 stores worldwide, spanning North America, Europe, and Asia.

In an interview with Entrepreneur, Banks shared how his journey began with an unexpected source of initial funding—his severance package. After being asked to relocate for his corporate job, he declined the offer and opted for severance. "Oddly enough, I felt fine about it and immediately thought to invest in myself using the severance package," he recalled.

Banks then spent the next 90 days building Modbap Modular from the ground up. He focused on designing his first product and refining his brand pitch, which allowed him to clearly communicate his vision to anyone willing to listen.

Modbap Modular, officially launched in October 2020, was Banks’s solution to a gap he identified in the market. As a beatmaker in the boombap genre, he struggled to find compact, performance-ready gear tailored to his creative needs.

The "aha" moment came while preparing for a live set. Banks realised he needed something both streamlined and powerful as he was organising his equipment. "I found myself wishing that a particular device could fit into my Eurorack performance case," he told the publication. That moment sparked his journey into modular design, transforming his initial sketches into a complete prototype.

Announced on the beatmaker’s podcast he hosted, the launch of Modbap Modular was met with overwhelming demand, forcing Banks to increase his orders multiple times just to keep up. Banks fully embraced his dual role as designer and company leader as his products gained traction.

Today, Modbap Modular is sold in over 40 music stores worldwide, offering beatmakers and DJs access to innovative tools crafted specifically for their needs.