HMBradley is a digital banking platform built to reward savers, offering combined checking and savings accounts and deposit-linked lending through an arrangement with Hatch Bank. The platform pays up to 3% APY on savings to account holders who save a portion of their deposits each quarter and offers an adaptive credit card with 3%/2%/1% cash back by spending category. Since its April launch, transaction volume has exceeded $110 million and deposits have surpassed $90 million, with an average account balance near $30,000; deposits doubled month-over-month in October. The company plans to ramp its credit program, continue expanding customer-focused offerings, and has begun rolling out requested features such as joint accounts. HMBradley is investing in team growth and customer experience, adding senior hires including Ben Coffman and Saira Rahman. Founded in 2019, the company says it will unveil several more products in the coming months. HMBradley is a digital-first challenger bank that pays tiered annual percentage yields based on how much customers save as a share of their direct deposits. The product does not distinguish between checking and savings—every account balance earns interest according to the customer's savings rate. APYs range from about 1% up to 3% for customers who save more than 20% of direct deposits; intermediate tiers pay 1.5% and 2.25%. The bank also offers one-click free credit scoring and access to a 55,000 no-fee ATM network via STAR, and accounts are FDIC insured up to $250,000 through sponsor Hatch Bank. HMBradley was launched out of Max Levchin’s HVF Labs and is led by founders Zach Bruhnke, Germain Cassiere and Dmitry Gritskevich. The company has a waitlist and is offering early signups a temporary 3% bonus on committed direct-deposit amounts until first deposit, and it has raised seed capital to build the product and grow deposits.

Total raised

$22M

Funding rounds

2

Latest round

Series A

Latest activity

Nov 2020