Simple

neobanks / digital banksover the top

STATUS: Acquired/Merged
FOUNDING YEAR: 2009
LOCATION: United States
Last Update: 19/01/2021

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive WhatsApp community where you can engage in discussions with global industry experts!

About

Founded in 2009 and based in Portland, Oregon, Simple combines innovative technology, impeccable user experience and expertise in behavioral economics to help our customers spend smarter and save more. As a company, we believe that a bank that does good can also do well. We give our customers thoughtfully designed tools to help them feel confident with their money. We value curiosity, efficacy, craft and empathy and are proud to be disrupting the world of banking. We celebrate the big wins and learn from our failures. As humans, we bring our authentic selves to work everyday. We laugh a lot, we solve tough problems, we're kind to one another and we won't settle for "just OK". We're headquartered in Portland but have remote employees all across the country. Banking Services provided by BBVA USA, Member FDIC.

MEDICI Analysis

Simple was acquired by Banco Bilbao Vizcaya Argentaria bank on February 20, 2014. Simple is mobile/web interface which provides users with access to data around their financial history, as well as tracking of expenditures and savings goals, with automated purchase data collected when its customers use their Simple Visa debit card.

Focus

PRODUCTS & SERVICES

Simple Visa Card.

REVENUE MODEL

Transaction based revenue model.

EXISTING PARTNERSHIPS

Braintree

Bancorp

Dropbox - To bring innovation and enhancements to the customers’ financial lives.

Traction

VALUATION / MARKET CAP:

$117 M in 2015

COMPANY TYPE:

For Profit

TRANSACTIONS VALUE:

$1.7 B

ACTIVE USERS:

0.0100

People

FOUNDERS

Josh Reich

BOARD MEMBERS AND ADVISORS

Craig Shapiro

Sean Flynn

Jerry Neumann

Josh Kopelman

NUMBER OF EMPLOYEES

201-500

INVESTORS:

500 Startups

Anthemis Group

First Round

First Round Capital

IA Ventures

Lerer Hippeau

Lerer Hippeau Ventures

Neu Venture Capital

Sean Park

SV Angel

Thrive Capital

Village Ventures

Shasta Ventures

Life.SREDA

Brainchild Holdings

KEY EMPLOYEES:

Alex Payne

Momentum

FUNDED

YES

NUMBER OF FUNDING ROUNDS

4

TOTAL FUNDING

$15.29 M

DATE OF LAST FUNDING

Jun 2013

IPO STATUS

Private

ESTIMETED REVENUE RANGE

$1M to $10M

SEED & PRIOR FUNDING

$190 K

SEED CLOSED ON

Nov 2009

FUNDING SERIES

SERIES A  · $2.9 M  · Sep 2010

SERIES B  · $10 M  · Aug 2011

SERIES C  · $2.2 M  · Jun 2013

LISTED

NO

company provided insights
Acquisitions

M&A

ACQUIRED BY

Banco Bilbao Vizcaya Argentaria

ANNOUNCED DATE

Feb 2014

PRICE

$117 M

company provided insights
Web Traffic

Web Traffic

MONTHLY VISITS

959,493

AVERAGE VISITS (6 MONTHS)

1,034,342.01

MONTHLY VISITS GROWTH

-14.73%

VISIT DURATION

353

VISIT DURATION GROWTH

15.44%

PAGE VIEWS VISIT

7.1

PAGE VIEWS VISIT GROWTH

15.04%

BOUNCE RATE

31.02%

BOUNCE RATE GROWTH

2.01%

GLOBAL TRAFFIC RANK

35,652

MONTHLY RANK CHANGE

-2,363

MONTHLY RANK GROWTH

-6.22%

Innovation Programs

Join the exclusive global FinTech community

Be a part of the global FinTech community on WhatsApp