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6
Sep

Happy Money collects $70m in Series D round

Happy Money, which builds financial tools and services, has collected $70m in its Series D round of funding.

The capital injection was led by CMFG Ventures, the venture capital arm of CUNA Mutual Group. As part of the deal, Happy Money has formed a strategic partnership with CUNA Mutual’s national sales force which has a product relationship with more than 95 per cent of all US Credit Unions, it claims.

This deal will extend Happy Money’s relationships with existing financial partners.

Funds will be used to explore further partnerships with credit unions and ethos-aligned financial institutions.

Happy Money offers a product ecosystem which helps consumers pay off debt, save money and evaluate their spending habits.

Happy Money CEO and founder Scott Saunders said, “This successful fundraise is a direct validation of the Happy Money movement and ultimately strengthens our position against what we call ‘Sad Money.’ Mindful capitalism is the future, and we’re leading the charge.

“We’re committed to helping our members build a happier relationship with their money through our Happy Money ecosystem, which connects lending, spending, and savings products. We’re excited to add CMFG Ventures to our list of strategic investors who believe in eliminating ‘Sad Money’ on a national scale.”

The company was launched in 2009 and has raised more than $140m in funding from investors including Anthemis Group, CMFG Ventures, LLC and Toba Capital, among others.

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