American fintech start-up Happy Money has raised $70m in a Series D funding round led by CMFG Ventures, the venture capital arm of insurer CUNA Mutual Group.
Since its launch in 2009, Happy Money has collected more than $140m from CMFG Ventures, Anthemis Group, and Toba Capital, among others.
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The company intends to utilise the new capital to support business expansion, team up with credit unions and other like-minded financial companies.
Happy Money provides digitally-native financial tools that enable users to get rid of the spiral of their credit card debt.
The company provides a connected ecosystem of consumer financial products, which enables borrowers to settle debt, save money and assess their spending habits.
The fintech company also introduced Happy Score that enables users to gauge their financial wellbeing using cash flow, savings, behavioural and psychometric data.
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By GlobalDataHappy Money founder and CEO 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.”
