Financial wellness and growth solutions provider SavvyMoney has announced that it has raised a USD 225 million minority investment to further support financial institutions.
Co-led by PSG and Canapi Ventures, with ongoing investment from Spectrum Equity, the funding is set to boost SavvyMoney’s product development and market entry efforts, enabling the company to better serve its primary community of over 1,500 financial institutions.
SavvyMoney’s development strategy
Since the start of its operations, SavvyMoney has been focusing its efforts on delivering solutions that meet the needs of banks, credit unions, and fintech companies looking to deepen consumer relationships through data-driven capabilities. The company plans to further expand its product portfolio to continue to support financial institutions, regardless of their size, to advance their operations and enable consumers to become more confident when taking financial action. According to SavvyMoney, the collaboration with its investors facilitates access to resources and expertise, enabling the company to build on its model and expand its offerings for financial institutions.
Furthermore, the investment merges two companies whose combined experience positions SavvyMoney for its next step in its growth journey. PSG’s software expertise and operational support will enable SavvyMoney to scale its ability to assist financial institutions in increasing customer engagement and long-term value. According to PSG’s officials, the company intends to support SavvyMoney in further expanding its suite of products and its plans to utilise AI to provide more revenue opportunities to financial institutions and their customers.
At the same time, Canapi Ventures, which holds over 70 financial institutions as limited partners, will enable SavvyMoney to achieve its growth objectives. Spectrum Equity’s return in this round highlights the firm’s confidence in SavvyMoney’s team and development strategy. Additionally, TransUnion, which first invested in the company back in 2016, intends to maintain its position as a strategic partner and shareholder moving forward.
A few months before this announcement, more specifically in spring 2025, SavvyMoney acquired CreditSnap, aiming to broaden its fintech offerings. The deal came as an important milestone for the company as it sought to build a flexible, digital-focused platform that complemented every stage of the consumer financial journey. Integrating CreditSnap’s technology was set to allow SavvyMoney to solidify its collaboration with existing Loan Origination Systems and account opening platform, thus providing value to both partners and customers.
