US-based financial wellness and credit score solutions fintech SavvyMoney has secured a $225 million minority investment to help accelerate its product roadmap and go-to-market initiatives.
Growth equity firms PSG and Canapi Ventures co-led the minority investment round, which also featured additional participation from previous backer Spectrum Equity.
Spectrum Equity led a $45 million growth investment round in SavvyMoney back in 2022 with additional support from credit scoring heavyweight TransUnion, which first invested in SavvyMoney in 2016.
Founded in 2008 as DebtGoal, SavvyMoney offers an integrated platform that provides real-time credit score insights and financial wellness tools to help consumers understand and improve their score, while its analytics tools also help financial institutions to personalise their customer marketing and communications.
The company says that it has “nearly doubled its institutional footprint to over 1,500 partners since 2021”, with its tech utilised by banks, credit unions, and fintechs across the US, adding that its personalisation and marketing tools integrate with “more than 40 digital banking platforms”.
Earlier this year, SavvyMoney acquired fellow US-based fintech CreditSnap for an undisclosed sum, which the company says now powers “loan origination, deposit, and account onboarding solutions” as part of its product suite.
Source: https://www.fintechfutures.com/
