B9, a San Francisco CA-based fintech startup, raised $5M in Seed funding.
The backers were not disclosed.
The company intends to use the funds to expand operations and accelerate growth.
Led by CEO Sergei Terentev, B9 provides a personal finance platform offering financial solutions, consumer products, services, and resources to workers in the U.S. who are underserved by traditional banks. The startup offers interest-free payroll advance options, a VISA® debit card for secure online or offline shopping, the ability to send cash to family in the U.S. and abroad, pay bills with the app and get additional cards for family members.
Recently launched features include access to Apple, Google and Samsung mobile wallet options to withdraw funds and facilitate mobile spending, a physical card to use at stores, plus a pull-from-card feature to facilitate B9 account deposits and instant digital payments. B9 also now offers remote check depositing with instant access to funds and free unlimited check cashing.
B9 customers have deposited paychecks from more than 1,500 companies, including Amazon, Walmart, Lyft, Uber, DoorDash, Instacart and the U.S. Postal Service, and this number is growing rapidly.
The company’s banking services are provided by Evolve Bank & Trust, Member FDIC.