Pocketnest Explodes, Nearly Reaches $5M in Raised Capital
Fintech helps increase revenue, clients, and users with the latest technology $2.6M capital raise
DETROIT, Dec. 15, 2022 /PRNewswire/ — Pocketnest, the female-founded financial wellness platform, announces its latest $2.6M Capital raise in a round led By Reseda Group.
The marking of nearly $5M The funds have been raised so far and will be used to support product development, marketing and sales initiatives.
Prior to this raise, fintech saw explosive growth. December 2021:
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250 percent increase in new users
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100 percent annual growth in recurring revenue
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75 percent increase in new clientele, 35 total clients included MSU Federal Credit Union (MSUFCU), Service Credit Union, Community Financial Credit Union, The Accel Group TDC Investment Advisory TDC Henry Ford Altruist Autobooks, The Henry Ford and More
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With 20 total employees, there has been a 100 percent increase in the headcount of the development team. Plans are to expand the sales- and marketing departments in 2023.
“We see huge growth and opportunity at Pocketnest and fully align with their mission, spreading more inclusive financial wellness,” said Mr. Ben MaximReseda Group chief technology officer. MSUFCU chief digital strategy, innovation and officer. “Pocketnest has a foothold in fintech and can help financial institutions completely reinvigorate their brand, their tech, and their millennial engagement—all while bringing financial wellness to their communities.”
The Pocketnest team received numerous awards and honors throughout the year. Wells Fargo’s 2022 Innovation Challenge finalist designation A corresponding $50K award.
“Even though the market was volatile, we were still able to secure our investments.” $2.6M of capital in 10 days—a true testament to the value of our platform and the potential it represents for our clients, investors, and most of all, end users,” said Jessica WillisPocketnest founder and CEO. “Our scrappy and elbow-grease approach drives consistent ‘hockey stick’ growth while maintaining a very generous runway.”
Pocketnest licenses their platform to financial institutions in order to increase their cross-sell opportunities. The company also licenses employee wellness programs to employers to improve productivity, retention, and recruitment. Pocketnest is based on psychology and behavioral science, and guides users through 10 areas of financial wellness. Its gamified, almost-addictive approach draws users into the app to keep their financial plan up to date—in just three minutes a week.
Pocketnest, Inc.™ Is it a Google-accelerated Financial wellness app that guides users through 10 topics of financial wellbeing. This platform allows users to identify gaps and then fill them. It also helps to identify cross-sell opportunities with financial institutions such as credit unions or investment advisors. 401k Sponsors of plans; employee wellness programs. The fintech was launched in 2019 and has been recognized as one the most innovative. world’s most innovative startups.
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SOURCE Pocketnest