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Financial Wellness Leader FinFit Closes $7 Million Series B Round to Fuel Rapid Growth

Financial Wellness Leader FinFit Closes $7 Million Series B Round to Fuel Rapid Growth

New Financing Solidifies Company’s Growth Plan and Vision to Provide a Unique Financial Wellness Benefit Platform to Today’s Workforce

VIRGINIA BEACH, Va.–(BUSINESS WIRE)– FinFit, a FinTech company that provides over 125,000 employers with a unique financial wellness benefit platform, today announced that the company has raised $7 million in Series B funding. The round was led by Galaxy Investment Partners LLC, the family office of Michael Novogratz, with participation from existing investors Bison Capital Asset Management, LLC and others. The capital will be used to solidify the company’s growth plan and sustain its vision to provide a unique financial wellness benefit platform to today’s workforce.

This investment is a testament to FinFit’s growth and limitless potential. It enables us to refine our disruptive platform that is available to millions of employees, helping them improve their personal finances which is proven to create positive ROI for employers. We’re very excited to continue to help employers increase their profitability by helping to reduce their employees’ stress levels and guide them down the path to financial freedoms.

David Kilby | President of FinFit

FinFit partners and clients are quickly adopting its innovative and comprehensive financial wellness solution, validating the offering and vision. With differentiated technology and a strong leadership team, we believe that FinFit is well positioned to continue to drive exponential growth and further solidify its best-in-class solution in this fast-growing industry. We’re excited to lead FinFit’s Series B round, partnering with its team and investors to further accelerate the company’s rapid expansion

Nick Holderness | Galaxy Investment Partners LLC
This investment will help FinFit continue to launch and enhance products and features, and grow its team. Most recently, FinFit announced several new products including FinFit Visa® Prepaid Card, which simplifies money management and is free to all FinFit members; and its WageNow program, which allows employees to access earned, unpaid wages before their scheduled payday. As a result of the company’s success and growth, FinFit has continued to build out its leadership team, including the recent additions of Matthew Fahy, Chief Financial Officer; and Paul Grosch, Chief Technology Officer.

About FinFit:
Founded in 2008, FinFit has grown to be one of the nation’s largest financial wellness benefit servicing over 125,000 clients. FinFit provides a self-directed online experience that lets employees measure their financial fitness and provides fun, education resources and tools to increase their financial knowledge and drive results. FinFit helps to eliminate stress in the workplace by providing real-time solutions that offer real-world help when it is needed most. FinFit is a powerful way for employers to attract and retain talent by helping employees get focused, get healthy and become more productive.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190730005147/en/

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The FinFit Visa® Prepaid Card is issued by Central Bank of Kansas City, Member FDIC, pursuant to a license from Visa U.S.A., Inc. FinFit Loans are not sponsored, endorsed, administered by, or associated with Central Bank of Kansas City, the issuer of the FinFit Visa® Prepaid Card, who has no liability in relation to FinFit Loans. Residents of Connecticut, New Hampshire, Rhode Island and Vermont are not eligible for the FinFit Visa® Prepaid Card. This does not constitute an offer or solicitation for the FinFit Visa® Prepaid Card to residents of those states.

The FinFit Visa® Prepaid Card is issued by Central Bank of Kansas City, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Certain fees, terms, and conditions are associated with the approval, maintenance, and use of the Card. You should consult your Cardholder Agreement and the Fee Schedule. If you have any questions regarding the Card or such fees, terms, and conditions, you can contact us toll-free at (833) 519-3500 – 24 hours a day.

WageNow is fully funded and managed by an affiliate of FinFit.

A per-transaction fee of $5 is charged if and when an employee chooses to access their earned wages prior to payday. There are no other fees to your organization or your employees; WageNow is fully funded and managed by an affiliate of FinFit.

Residents of California, North Dakota, South Dakota, Tennessee and Vermont are not eligible for WageNow. This does not constitute an offer or solicitation for WageNow to residents of those states.

FinFit Loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC. Loans subject to credit approval.

Residents of Colorado, Connecticut, Iowa, Vermont, West Virginia, Nevada and Massachusetts are not eligible for loans.

Nothing on this website constitutes an offer or solicitation for loan products to residents of those states.