Nickels, an An Arbor, MI-based fintech company, raised $4M in Seed funding.
The round was led by Flyover Capital and Reseda Group, with participation from Detroit Venture Partners and Michigan Rise.
The company intends to use the funds to expand its product capabilities, recruit talent, and accelerate its partnerships with banks and credit unions.
Led by CEO Joseph Gracia, Nickels provides a financial wellness solution that empowers banks and credit unions to help their consumers overcome credit card debt and build positive habits. It begins with an analysis of anonymized checking account data to identify refinance opportunities within the institutions’ existing consumer base, alongside a marketing toolkit that helps them connect with those consumers to refinance their third-party debt. Institutions then roll out Credit Card Coach, a white-label web application where consumers link in their third-party credit cards to receive personalized advice about managing payments, controlling spending, and improving credit scores. This third-party card data is fed back to the institution to continually identify consumers who would benefit from refinancing their third-party credit card debt into the institutions’ own loan products.
FinSMEs
07/10/2022