Brigit, a U.S.-based financial health mobile app, announced on Wednesday it not only has helped its members save more than $250 million since its platform’s launch, but it also raised $35 million through its Series A funding round, which was led by Lightspeed Venture Partners, with participation from DCM, Nyca, Canaan, DN Capital, CRV, Core Innovation Capital, Shasta, Hummingbird, Abstract, Brooklyn Bridge Ventures, Secocha, Ashton Kutcher’s Sound Ventures, and Flourish Ventures.
Launched in 2018, Brigit claims to be one of the fastest-growing fintech companies in the world.
“With transparent, fair, and simple financial tools, we help you spend wisely, avoid unfair fees, and start saving more. We don’t just reduce stress — we promote sustainable financial health.”
Brigit further revealed that it not only helped its members save over $250 million in fees since its launch, but it has also helped save each member on average more than $500 annually. To date, it has helped over one million people move closer to financial stability with its tools. Speaking about the investment, Jeremy Liew, Partner at Lightspeed Venture Partners, stated:
“This pandemic has shown how the financial system is broken for many Americans, although the problems are not confined to the job losses caused by COVID-19. Brigit has built an empathetic app to help people avoid overdrafts and build overall financial health through turbulent financial times. We’re honored to support them because, unlike many other financial institutions that serve the underbanked, Brigit aligns its success with its members’ long term financial success.”
Zuben Mathews, Co-Founder of Brigit, added:
“We thank our partners, supporters, and most of all, our members for believing in what Brigit is doing. This is only the beginning, we will continue to work tirelessly with our great team to eliminate financial stress everywhere we can.”