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A brand new fintech known as Fierce has emerged from stealth with $10 million in seed funding.The corporate’s iOS-based app includes a money account with an APY of as much as 4.25%; a Rewards Credit score Card is deliberate for later this 12 months.Fierce is backed by buyers together with Pendrell, AP Capital, Wheelhouse Digital Studios, and House Whale Capital.
Fierce, a fintech based mostly in New York, emerged from stealth this week with an iOS-based app and $10 million in seed funding. The funding got here from institutional buyers together with Pendrell, AP Capital, Wheelhouse Digital Studios, and House Whale Capital, in addition to angel buyers. The funding will assist Fierce add to its crew, construct up its buyer base, and market its resolution.
“Fierce is a buyer centered, feel-good finance app,” Fierce founder and CEO Rob Cornish stated. “We’re actually mission-driven in our effort to deliver the most effective of fintech to individuals, so we constructed an extremely superior platform with a easy UX to present as a lot yield as potential to our prospects. Our objective is to assist customers improve their wealth whereas having fun with an empowering, constructive expertise on the app.”
Based in 2021 by a crew of economic providers professionals with backgrounds in each challenger and conventional banking, in addition to cryptocurrencies and U.S. inventory exchanges, Fierce affords customers an all-in-one monetary app for financial savings, spending, investing, and extra. Fierce options an FDIC-insured money account with an APY of as much as 4.25% and no month-to-month charges. The app additionally permits customers to purchase shares of each shares and ETFs – together with the acquisition of fractional shares – in addition to take part in Absolutely Paid Securities Lending (FPSL) by means of which buyers can earn passive revenue by lending their shares. Observe that FPSL doesn’t forestall buyers from buying and selling their shares at any time.
Fierce additionally stated that it plans to introduce a Fierce Rewards Credit score Card later this 12 months. The cardboard will supply 1.5% money again on all spending, and all curiosity and rewards earned are robotically redeemed into the consumer’s portfolio. Further performance – corresponding to entry to non-public loans, mortgages, insurance coverage, and extra – is deliberate, and Fierce expects to supply an Android model of its app later in 2023.
“Fierce is coming into the market with a robust resolution that permits prospects to take management of their funds whereas calming the monetary anxiousness that many individuals face at this time,” Fierce angel investor David Krell stated. “We’re assured within the firm’s skill to supply prospects with the means to create monetary stability for the long term.”
Photograph by Pixabay
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