SecureSave, a Kirkland, WA-based financial technology company advancing savings programs product, raised $11m in funding.
The round was round led by Truist Ventures, the venture capital division of Truist Financial CorporationBank, with participation from Stearns Financial Services Inc., and crypto platform FTX.
The new funding, which brings the total amount raised to $14.7m, following an initial seed round in January 2021, will enable the company to expand its partnerships and develop its emergency savings product.
Led by Devin Miller, Chief Executive Officer, Suze Orman, Chief Strategy Officer, and Bassam Saliba, Chief Technology Officer, SecureSave partners with companies to offer emergency savings accounts (ESAs), which can be automatically deducted from a worker’s payroll and deposited into their FDIC-insured account to help them save for the unexpected. Employees are able to instantly access the funds within their accounts at any time, which holds matching contributions from their employer. The account also provides bonuses when users hit financial goals and savings targets to help incentivize employees to engage in financial wellness practice.
This new funding follows recent distribution partnerships with Transamerica, a provider of life insurance, retirement, and investment solutions, and Milliman, a premier global consulting and actuarial firm.