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One raises USD 40 mln in Series B round

Friday 20 August 2021 14:00 CET | News

One, a startup that aims to bring ‘all-in-one banking’ to the middle class, has raised USD 40 million in a Series B round of funding.

Progressive Investment Company (the insurance giant’s investment arm) led the round, which included participation from Obvious Ventures, Foundation Capital, Core Innovation Capital, and others. The financing brings One’s total raised since its 2019 inception to USD 66 million.

According to TechCrunch, the startup has worked to improve its core product offering, launching overdraft protection, an auto-save feature that rewards automatic savings contributions at 3.00% APY, cash flow-based credit lines, and a credit builder product to help its customers build financial health.

It plans to use the new funding toward fuelling customer growth, hiring, and expanding its product offerings.


Source: Link


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Keywords: banks, financial services, startup
Categories: Banking & Fintech
Companies:
Countries: Bangladesh
This article is part of category

Banking & Fintech






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