Good Money, a Los Angeles, CA-based digital banking platform, raised $30m in Series A funding.
The round was led by Galaxy Digital, via its Galaxy EOS VC Fund, with participation from Breyer Capital, Blocktower Capital, Boost VC, Ken Howery, Blockchange Ventures, Cross Culture Capital, Troy Carter, Mitch Kapor, Peter Diamandis, Blake Mycoskie, Justin Rosenstein, and others.
Led by Founder and CEO Gunnar Lovelace, Good Money is a conscious digital banking platform providing banking and financial services, while directing 50% of profits to impact. It provides values-based banking services with features including:
– FDIC insured savings accounts that will generate a 2% yield,
– free ATMs nationally,
– no-overdraft fees and,
– low consumer loan rates.
Users will direct 50% of the platform’s profits to impact projects focused on social and economic inequality, environmental stewardship and renewable energy.
Good Money will launch a waitlist in January 2019 that will reward users with equity for securing their spot in anticipation of the full platform release later in the year.