FinFit

FinFit offers a financial wellness benefit platform for employers that uses predictive AI, and includes tools for employees to budget, track spending, set savings goals and obtain personalized financial assessments. The platform also provides access to certified financial counselors to obtain one-on-one financial advice. In addition to financial coaching, the company also offers services such as tools to manage student loan debt, get early access to earned wages, and obtain low-cost short-term loans backed by the employee’s salary. In April 2023, Fitfit merged with the US operations of UK-based financial wellness platform Salary Finance. The two companies aim to launch a combined platform in the US under the Finfit brand.

FinFit operates a subscription-based pricing model, and charges employers in the range of USD 0.30–1.00 per employee per month based on the size of the organizations and number of employees. The platform also generates revenue through interest income by charging users interest in the range of 7.9%–24.9% APR on its loans. It charges fixed interest on its lines of credit.

As of March 2024, FinFit was reported to be serving more than 500,000 employees (up from 150,000 in 2020).

Key customers and partnerships

In September 2024, FinFit partnered with Sunny Day Fund, a financial support platform, to offer emergency savings accounts for employees through its SafetyNet platform. In August 2024, FinFit partnered with isolved, a human capital management platform, to expand product reach.