Honest Dollar offers a simple platform that connects to employers' payroll systems to automatically set up and maintain employee retirement accounts structured as Simple IRAs. The company targets startups and small businesses, typically those with fewer than 50 employees, and charges employers $10 per employee per month. Honest Dollar narrows investment choices to a handful of low-cost ETFs (about 0.09% fees) and allows employees to contribute up to $12,500 a year. Founders include Will “Whurley” Hurley and Henry Yoshida, a former retirement-plan adviser. The startup launched at SXSW Interactive, won the festival's ReleaseIt pitch competition, completed a private beta, and is opening a more public beta to grow signups. It recently closed a $3 million seed round to support its expansion.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Mar 2015