FinFit, a Virginia Beach, Va.-based financial wellness benefit company for employers, raised $7m in Series B funding.
The round was led by Galaxy Investment Partners LLC, the family office of Michael Novogratz, with participation from existing investors Bison Capital Asset Management, LLC and others.
The company intends to use the funds to launch and enhance products and features, and grow its team.
Founded in 2008, FinFit provides a financial wellness benefit platform that offers a self-directed online experience for employees to measure their financial fitness and provides education resources and tools to increase their financial knowledge and drive results.
Most recently, the company announced several new products including:
– FinFit Visa® Prepaid Card, which simplifies money management and is free to all FinFit members; and
– WageNow program, which allows employees to access earned, unpaid wages before their scheduled payday.
The company’s team led by
– David Kilby, CEO
– Matthew Fahy, Chief Financial Officer; and
– Paul Grosch, Chief Technology Officer,
is comprised of 55 people.
It currently services over 125,000 employers.
FinSMEs
30/07/2019