Moven is a NYC-based fintech that provides a free debit card and companion app to track users' money and spending in real time. Led by Brett King, the service aggregates accounts so users can see all accounts in one place. The debit card is issued by CBW Bank, member FDIC, pursuant to a license from MasterCard International. Moven raised $12m in a Series B financing led by Route 66 Ventures. The company intends to use the funds for international expansion and to recruit new staff in NYC and Philadelphia. Moven provides a mobile app that delivers real-time spending alerts, visualizations and budgeting tools, and lets users link external accounts for a consolidated view. The company also offers feeless Moven accounts with debit cards backed by CBW Bank, an FDIC member in Kansas. Moven exited beta in March after a mid-2013 soft launch and early invite beta. At that time it reported about 5,000 registered users and more than 100,000 invite sign-ups. The company plans to use new funding to expand offshore via a licensing model, targeting Canada and New Zealand as initial markets. Moven aims to announce two major global partnerships and drive app downloads toward a 10 million-download goal over the next few years. Movenbank, led by CEO and founder Brett King, is a New York City mobile-direct financial start-up that offers a banking service delivering real-time feedback on everyday spending via users' mobile phones. Its core product includes CRED, a proprietary financial credibility score that analyzes financial data, social influence and shopping patterns to help customers understand day-to-day financial behavior. The company works with banking and payments partners, mobile operators, consumer credit groups, social media partners and merchants to deliver its service. Movenbank has closed a US$2.41m seed funding and intends to use the capital to strengthen its team and further advance CRED. The funding was provided by a mix of institutional and individual backers as described in the press report.

Total raised

$22M

Funding rounds

3

Latest round

Series B

Latest activity

Oct 2015