Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 438

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/customer/www/everly.eu/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230
Finch was founded by a former N26 employee, now it secures $1.8M seed round - Everly.eu
8.6 C
New York
Friday, April 19, 2024
Home Challanger banks Finch was founded by a former N26 employee, now it secures $1.8M...

Finch was founded by a former N26 employee, now it secures $1.8M seed round

Finch is a US-based fintech startup that aims to integrate the benefits of investing with the flexibility of checking into an all-in-one account.

This week it has secured $1.8M in seed funding. The goal is now to launch its platform and help transform how people manage their money.

Read also: Klarna becomes Europe’s most valuable fintech hitting over $10 billion valuation

The funding round was led by Mendoza Ventures, with additional participation from Barclays, Techstars Investors, and Draper Frontier.

Finch wants to become a unique investment tool and empower the Millennial generation to make their money work for them. The key is to let the customer earn investment returns by automatically investing their balance into “a portfolio designed to match their unique risk profile.”

With that, Finch is also enabling customers with instant access to their money when they need it, even when the money is invested.

“I always felt I could have done more with my money – but didn’t and ended up holding my balance in cash. Having discovered that in the US, a staggering three in five Millennials currently do not invest at all, I realized I was not alone. Compounding this with the growing financial debt among Millennials today, with 62% living paycheck to paycheck, opened my eyes to how significant the issue is,” said Neel Ganu, founder of Finch.    

    

“Many of our customers express that investing is too complex, while others feel they have very little financial flexibility to think about investing and other financial opportunities. But by keeping their money idle in a traditional checking account, they could be missing out on up to 50% of their wealth every ten years,” Ganu added.

Ganu acknowledges that Acorns brought roundups, Stash brought $5 dollar investments, and Robinhood brought commission-free investing. Instead of viewing these fintechs as the competition, Ganu says these start-ups sit adjacent to Finch.

Ganu says Finch will generate money in three ways:

  1. Interchange fees via a debit card
  2. Subscription-based fee, depending on the account a user takes out.
  3. A spin on the traditional asset management fee

“The Finch team is not only disrupting the checking account to become truly customer-centric; they are transforming the fintech industry as the first player in the market that is enabling instant liquidity on investments. No doubt a game-changer,” said Senofer Mendoza, General Partner, Mendoza Ventures. 

“By enabling customers the ability to earn investment returns, from day one, with what they have today, they are closing the wealth gap and financially empowering a generation. We are so excited to support this team in their mission of financial empowerment.”

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

NEW Revolut UK CEO to make Conference Debut at MoneyLIVE Summit

MoneyLIVE has today announced that Revolut’s newly appointed UK CEO will be making her conference debut at MoneyLIVE Summit 2024, which is...

2024’s Financial Innovators: A New Era of Banking Startups 

In the wake of the COVID-19 pandemic, our world witnessed an unprecedented shift towards digitalization. The banking industry, in particular, has been...

C-suite Banking and Payments Leaders From Across Europe Set to Meet at London’s MoneyLIVE Summit in March

On the 6-7 March 2024 MoneyLIVE Summit will return to London’s QEII Centre to unite over 1000 banking and payments leaders from...

The Evolution of Digital Wallets: A Shift from Physical Cards by 2030

By 2030, we can expect digital wallets to become the preferred payment instrument, offering a myriad of non-payment-related services for consumers.