SeedFi offers digital financial-health products designed to help underserved Americans build credit and savings while providing access to funds. It launched with two flagship products: the Credit Builder Plan, which reports savings to credit bureaus and can generate $500 in savings in as little as six months, and the Borrow & Grow Plan, which provides immediate access to funds while also building savings and credit. Customers can save as little as $10 from every paycheck under the Credit Builder Plan. SeedFi launched in private beta in 2019 and says early users collectively built more than $500K in savings during the pandemic; customers with no credit history reached a 600 score after six months of on-time payments, while some existing-credit customers saw 45-point increases. The company notes its average customer earns $50K a year and that its products are structured to generate savings and build credit to break cycles of high-cost debt. SeedFi plans to use new capital to expand its product suite and grow its customer base.

Total raised

$65M

Funding rounds

2

Latest round

Series A

Latest activity

Feb 2021