Wednesday, November 6, 2019

HMBradley Raises $3.5M For Digital Banking Startup

Santa Monica-based HMBradley, a new fintech startup focused on digital banking, has raised $3.5M in a funding round, the company announced this morning. The seed funding was led by Accomplice Ventures and Walkabout Ventures, along with Mucker Capital, Index Ventures and others including HVF Labs (Max Levchin's startup studio). According to HMBradley, it is creating a new banking experience which will pay up to 3% APY to savers who automatically save a portion of their monthly deposits on its platform. The company's co-founders are Germain Cassiere, CTO; Zach Bruhnke, CEO; and Dmitry Gritskevich, COO. HMBradley says it combines both checking and savings features into a single, digital bank account, where it pays out an APY depending on the percentage of a customer's direct deposits that are saved each quarter; the company says it also plans to launch a rewards credit card which help boosts their APY depending on their purchases. More information »