Pocketnest explodes, reaching nearly $5 million in raised capital
Fintech increases customers, users and revenues with the latest news 2.6 million dollars capital raising
DETROIT, 15 December 2022 /PRNewswire/ — Pocketnest, the women’s financial wellness platform, announces its latest 2.6 million dollars raising capital from a round led by Reseda Group.
Almost noticeable 5 million dollars raised to date, the funds will drive product development, sales and marketing efforts, and support a 24-month runway.
Prior to this surge, fintech experienced explosive growth since December 2021:
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250 percent growth in new users
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100 percent growth in annual recurring income
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75 percent growth in new customers, with a total of 35 customers, including MSU Federal Credit Union (MSUFCU), Service Credit Union, Community Financial Credit UnionThe Accel Group, TDC Investment Advisory, The Henry Ford, Altruist, Autobooks and more.
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100 percent growth in the number of employees in the development team, reaching 20 employees in total, with plans to expand the sales and marketing teams in 2023
“We see massive growth and opportunity in Pocketnest and are fully aligned with their mission to spread more inclusive access to financial well-being,” said Ben Maxim, Chief Technology Officer, Reseda Group; and Chief of Digital Strategy and Innovation, MSUFCU. “Pocketnest has a foothold in fintech and can help financial institutions revitalize their brand, their technology and their millennial engagement – all while bringing financial well-being to their communities.”
The Pocketnest team piled up awards and accolades throughout the year, including Wells Fargo’s 2022 Innovation Challenge finalist designation with an equivalent 50,000 dollars assign.
“Even in this volatile market, we were able to hedge 2.6 million dollars of capital in 10 days – a true testament to the value of our platform and the potential it represents for our customers, investors and most of all end users,” said Jessica Willis, CEO and founder, of Pocketnest. “Our scrappy, elbow-grease approach drives our consistent ‘hockey-stick’ growth while maintaining a very generous runway.”
Pocketnest licenses its platform to financial institutions to increase their cross-selling opportunities; it also licenses employee wellness programs to help employers increase recruitment, productivity and retention. Built on behavioral science and psychology, Pocketnest coaches users through 10 topics for financial wellness. The gamified, almost addictive approach draws users into the app to keep their financial plan up to date – in just three minutes a week.
Pocketnest, Inc.™ is a Google Accelerated financial wellness app that guides users through 10 financial wellness topics. The platform helps users identify and fill gaps in their plans, while also identifying cross-selling opportunities for the financial institutions they license to such as banks, credit unions, investment advisors, 401k plan sponsors; and employee wellness programs. Fintech was launched in 2019 and has been recognized as one of the the world’s most innovative startups.
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SOURCE Pocketnest
