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

Written by FinFit on . Posted in Press Releases.

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 150,000 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 150,000 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.

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Loans are made by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC. Loans subject to credit approval. Loan products, features, and service providers vary by state. Service providers are FinFit Ops, LLC (see licenses) or its affiliate, Salary Finance, Inc. (see licenses). See application terms and loan agreements for more details.

Funding time dependent upon funding method selected. Expedited funding may incur additional fees.

FinFit is a financial technology company and is not a bank. Banking services provided by Choice Financial Group; Member FDIC.

Student loan services are provided by unaffiliated third parties. FinFit loans issued by Celtic Bank do not include student loans.

Wage Now is fully funded and managed by an affiliate of FinFit. If any fees apply, those fees will be disclosed prior to entering into any agreements.
Residents of California, New York, 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’s Financial Wellness Program, which includes educational content, a financial assessment and a financial dashboard, are free to registered members.
Services offered may incur fees and/or interest. All fees will be disclosed prior to entering into any agreements.
Products listed are a representation of FinFit offerings. Actual availability may vary. The products available to you and your organization will appear on your FinFit membership dashboard. Actual loan amounts and rates offered vary based on lender, credit worthiness and other factors.

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