The round was led by Cathay Innovation, with the participation of Northwestern Mutual Future Ventures, Crosslink Capital, Forerunner Ventures, Homebrew and others.
Without monthly fees or overdraft charges, the company tries to appeal to the millennial generation. Since launching in 2014, it has signed up 500,000 customers, who are typically in their late 20s and making between USD 50,000 and USD 70,000 per year.
The company expects to reach USD 1 billion in transaction volume by the end of 2017.
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