Image: Daylight plans to use this investment to expand its services to support LGBTQ+ people looking to start and expand their families. Credit: StockSnap from Pixabay .

Daylight, a US-based digital bank to offer financial products and services for LGBTQIA+ community, has raised $15m in Series A financing.

This funding round was led by Anthemis Group, and had seen participation from CMFG Ventures, Kapor Capital, Citi Ventures, and Gaingels, among others.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Anthemis Group managing director Vinay Singh will join Daylight’s board of directors, which includes Daylight co-founder and chief operating officer Billie Simmons.

Daylight plans to use this investment to expand its services to support LGBTQ+ people looking to start and expand their families.

About 3.8 million LGBTQ+ millennials are planning to expand their family in the next five years and the company aims to tap them.

Daylight Money will roll out a new subscription service called Daylight Grow, a financial and family planning product designed specifically for LGBTQ+ and their families.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Simmons said: “Family creation is a major life event for queer people and the challenges we face are increasingly more complex than those for non-LGBTQ people. Daylight Grow will help queer people navigate through the complex legal and financial challenges involved, making it faster and easier to start a family and unlocking critical intergenerational wealth for our community.”

The product will be officially launched in early 2023.

When the product is launched, subscribers of Daylight Grow will receive a personalised family creation plan covering financial, legal, and logistical milestones customised to requirements; family planning concierges to offer financial advice and logistical support; a family-building marketplace with family attorney networks, and IVF and surrogacy clinics in their area; and access to family-building loans

The company will provide hundreds of free subscriptions to low-income, marginalised families in those US states where LGBTQ+ rights are under significant attack legally.

Currently, Daylight Grow is undertaking research and development of the product with a pilot programme.