Plinqit has closed its Series A round on $5m to support the development of its platform, which it claims is the only platform to pay users to learn about personal finances.
US-based venture capital firms Fintop Capital and JAM FINTOP, with commitments also coming from Invest Detroit, Michigan Rise4, Front Credit Union and others.
Proceeds from the round will help Plinqit expand its platform to meet rising customer demand.
Plinqit supplies financial institutions with a cost-effective customer acquisition strategy. Unlike other savings platform, Plinqit’s Build Skills product is aimed at paying users for engaging with content that improves their financial literacy.
Financial institutions also have the tools to make their own custom savings program with flexible, virtual accounts within the application.
With the close of the round, the company has raised a total of $10m in funding.
Fintop general partner John Philpott said, “At Fintop, we are committed to investing in the next generation of fintechs that are transforming the way financial institutions and their customers manage and interact with money – and that’s exactly what Plinqit is doing.
“They have a proven product that is creating substantial value for our industry. With this partnership, our goal is to further support their mission and help drive even stronger growth.”
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