• FOUNDING YEAR: 2013
    LOCATION:
    United States
    REGION:
    California
    Last Update:
    14 Feb, 2020
    Phone:
    +1 855-488-8866

Description

FOCUS

PRODUCTS & SERVICES:
Digit offers an automated savings platform that connects customers' checking account to Digit savings. It has developed an algorithm that determines the amount of money that a user can safely save each month after forecasting upcoming expenses and automatically sweeps that amount from user’s checking account into their savings account. The app also offers a credit card debt payment feature that automatically make an extra payment every month on a user’s credit card.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Retail customers
EXISTING PARTNERSHIPS:
The company has partnered with FDIC-insured banks where customers' funds are held.
COMMENT
The company supports over 2,500 banks and credit unions and all Digit accounts which are FDIC insured.

PEOPLE

MEDICI analysts will analyze Digit soon

TRACTION

Insufficient information for accurate analysis

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$36.3 Millions
DATE OF LAST FUNDING:
Jan 2020
SEED & PRIOR FUNDING:
$2.5 Millions
SEED CLOSED ON:
Dec 2014
FUNDING SERIES:
SERIES A
$11.3 Millions Closed: Jun 2015
SERIES B
$22.5 Millions Closed: Jun 2016
LISTED:
NO

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