- A brand new fintech known as Fierce has emerged from stealth with $10 million in seed funding.
- The corporate’s iOS-based app includes a money account with an APY of as much as 4.25%; a Rewards Credit score Card is deliberate for later this 12 months.
- Fierce is backed by traders together with Pendrell, AP Capital, Wheelhouse Digital Studios, and Area Whale Capital.
Fierce, a fintech based mostly in New York, emerged from stealth this week with an iOS-based app and $10 million in seed funding. The funding got here from institutional traders together with Pendrell, AP Capital, Wheelhouse Digital Studios, and Area Whale Capital, in addition to angel traders. The funding will assist Fierce add to its staff, construct up its buyer base, and market its answer.
“Fierce is a buyer centered, feel-good finance app,” Fierce founder and CEO Rob Cornish mentioned. “We’re really mission-driven in our effort to deliver one of the best of fintech to folks, so we constructed an extremely superior platform with a easy UX to offer as a lot yield as attainable to our prospects. Our purpose is to assist customers enhance their wealth whereas having fun with an empowering, constructive expertise on the app.”
Based in 2021 by a staff of monetary companies professionals with backgrounds in each challenger and conventional banking, in addition to cryptocurrencies and U.S. inventory exchanges, Fierce gives customers an all-in-one monetary app for financial savings, spending, investing, and extra. Fierce options an FDIC-insured money account with an APY of as much as 4.25% and no month-to-month charges. The app additionally allows customers to purchase shares of each shares and ETFs – together with the acquisition of fractional shares – in addition to take part in Totally Paid Securities Lending (FPSL) by way of which traders can earn passive earnings by lending their shares. Word that FPSL doesn’t forestall traders from buying and selling their shares at any time.
Fierce additionally mentioned that it plans to introduce a Fierce Rewards Credit score Card later this 12 months. The cardboard will supply 1.5% money again on all spending, and all curiosity and rewards earned are routinely redeemed into the consumer’s portfolio. Further performance – reminiscent of entry to private loans, mortgages, insurance coverage, and extra – is deliberate, and Fierce expects to supply an Android model of its app later in 2023.
“Fierce is getting into the market with a robust answer that enables prospects to take management of their funds whereas calming the monetary anxiousness that many individuals face right this moment,” Fierce angel investor David Krell mentioned. “We’re assured within the firm’s means to supply prospects with the means to create monetary stability for the long term.”
Photograph by Pixabay
