Fierce, a “feel-good finance app” helping its users earn high-yield returns across all their financial assets, has emerged from stealth with $10m seed funding.
Institutional investors Pendrell, AP Capital, Wheelhouse Digital Studios, Space Whale Capital and several notable angel investors participated in the funding round.
Fierce, which has launched its app available for iOS, is on a mission to empower users to take charge of their finances with confidence by reducing the friction most people face in the current landscape of fractured spot-solutions.
The FinTech was founded and built by a team of industry veterans, including executives from several US stock exchanges, neo-banks, traditional banks, and crypto platforms.
Prior to founding Fierce in mid-2021, CEO and founder Rob Cornish was the CIO of the New York Stock Exchange, the CIO of the International Securities Exchange, and the CTO of Gemini Trust Company.
According to Fierce, today’s financial market is abundant with solutions, but navigating through various opportunities can feel disjointed and overwhelming for the average person.
Fierce intends to use the funds to grow its team, acquire more customers, and further its goal of bringing the benefits of the app to as many people as possible.
Unique to the company’s offerings is the Fierce Cash account, an FDIC-insured checking account that earns an industry-leading current rate of up to 4.25% APY, where cash is available 24/7 via a no-fee debit card with access to over 55,000 fee-free ATMs. Unlike other offerings, Fierce does not charge monthly fees or impose restrictions that lock up your cash in order to access top-tier rates.
The Fierce Rewards Credit Card will also launch later this year with 1.5% cash back on all spending
Rob Cornish, Founder and CEO of Fierce, said, “Fierce is a customer focused, feel-good finance app. We are truly mission-driven in our effort to bring the best of FinTech to people, so we built an incredibly advanced platform with a simple UX to give as much yield as possible to our customers. Our goal is to help users increase their wealth while enjoying an empowering, positive experience on the app.”
Earlier this year, WealthTech startup beatvest, a mobile app designed to help people get involved with investing, collected €1.3m in seed financing.
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