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, FinFit 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.
As of March 2024, FinFit was reported to be serving more than 500,000 employees (up from 150,000 in 2020).
FinFit’s last funding round was in July 2019, where it raised USD 7 million in Series B funding led by Galaxy Investment Partners. The company expected to channel the funding towards accelerating growth.
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