But fellow startup HMBradley has a different business model. The majority of these fintechs target those who are underbanked, and rely on usage of their debit cards to make money off interchange. Zach Bruhnke, cofounder and CEO of HMBradleyHMBradleyĬonsumers are getting used to the idea of branch-less banking, a trend that startup digital-only banks like Chime, N26, and Varo have benefited from. It really resonates with employees, and solves very clear problems around loans and financial wellness,' Miller said. Employers 'are looking for kind of that silver bullet, something that's easy, that has good impact, is very measurable, and is not too hard to do. But the money is deducted after taxes, so funds can be tapped at any time without penalty (unlike retirement accounts) and can be matched by employers. Those with an employer-sponsored ESA set up regular deductions from their paychecks into a dedicated account for emergency funds, up to certain limits. In some ways, emergency savings accounts resemble health savings accounts, through which workers can set aside pre-tax earnings to save for medical care. A June Bankrate survey revealed that more than half of adults nationwide are uncomfortable with their level of emergency savings - and that only one in four have more saved for emergencies than they did a year ago. Miller said SecureSave's business is rooted in a fundamental premise: Too few Americans have enough money saved for emergencies. The venture studio was interested, introduced Miller and Saliba to who would become their third cofounder - the personal-finance expert and author Suze Orman - and SecureSave officially launched in September 2020. Miller sent a note to Pioneer Square Labs in Seattle asking if they were still backstopping new companies, even in the midst of what seemed like 'the end of the world,' he told Insider. But as the pandemic upended the American economy, they realized their idea to incentivize employee saving was more salient than ever. AdvertisementĬofounders Devin Miller and Bassam Saliba each spent years working in financial technology at companies like TaxAct and Equiom. The origins of SecureSave - a Kirkland, Washington-based fintech that works with companies to offer emergency savings accounts, or ESAs, to employees - began with a single email to a Seattle-based venture studio and investor. From left: SecureSave cofounders Devin Miller, Suze Orman, and Bassam Saliba.SecureSave Polaris Partners led the company's $19 million Series A and Simon and Polaris led NDVR's $20 million Series B which closed in July. Karen Pritzker, one of the heirs to the Hyatt fortune, invested through her VC firm, Launch Capital. NDVR has attracted big names in the venture capital space as its backers. So he developed a portfolio management app that customizes portfolios and investment strategies to the needs of wealthy investors.

But he felt there wasn't an investment strategy that fit his family planning needs because many of the solutions seemed like one-size-fits-all offerings. One that would, according to him, 'fix wealth management.' Simon had been a client of major banks like Goldman Sachs, Morgan Stanley, UBS, and even a robo-advisor. Michael Simon launched NDVR in January on the premise that he wanted to build a new kind of investment firm for high-net-worth investors. The fintech 'fixing wealth management'ĬEO Michael Simon lured Roni Israelov, former principal at the hedge fund, AQR Capital Management, to head up his portfolio management and research team.NDVR

You'll see new financial tech geared at freelancers, fresh twists on digital banking, and innovation aimed at streamlining customer onboarding. AdvertisementĬheck out these pitch decks to see how fintech founders are selling their vision and nabbing big bucks in the process.

Check out these pitch decks to see how fintech founders sold their vision. Insider has been tracking the next wave of hot new startups that are blending finance and tech. Check out the more than 50 pitch decks fintechs used to raise millions in funding from top investors

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