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.
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