Happy Money raises $70 Million in Series D round
California-based fintech Happy Money closed its Series D funding round with $70 million, hoping to use the investment to further partnerships with credit unions and grow its ethical mission.
Happy Money: “Mindful capitalism is the future”
The funding, led by CMFG Ventures, LLC, will help more Happy Money members pay off debt, save money and evaluate their “happy” and “sad” spending patterns.
Happy Score is one of the service’s features. It measures financial wellbeing using cash flow, savings, behavioural and psychometric data.
“This successful fundraise is a direct validation of the Happy Money movement and ultimately strengthens our position against what we call ‘Sad Money’,” says Happy Money founder Scott Saunders.
He adds: “Mindful capitalism is the future, and we’re leading the charge.”
CMFG Ventures’ MD Brian Kaas says it chose to invest due to Happy Money’s “innovative approach” creating financial tools and “services focused on human happiness”, as well as its “shared ethos with credit unions to serve members and communities”.
Happy Money has also formed a partnership with CUNA Mutual’s US sales force to access its 95% credit union customer base.
The fintech already has credit union relationships with Alliant, First Tech and Technology Credit Union, and has raised a total of $140 million from investors since it launched ten years ago.
