Tuesday, November 24, 2020

HMBradley Earns $18.25M For Online Banking Service

Los Angeles-based fintech startup HMBradley, which offers up online, digital bank accounts which pay interest based not on a user's balance, but on what percentage of their direct deposits they are saving, has raised $18.25M in a Series A funding. The funding was led by Acrew Capital. The company offers up 3 percent APY for depositors who save at least 20% of their direct deposits to the bank, down to just 0.5% for those saving 5%. The startup is led by co-founder and CEO Zach Bruhnke. The company initially launched its service in March of 2020, and now says it has more than $90M in deposits.