Pocketnest Explodes, Nearly Reaches $5M in Raised Capital
Summary
DETROITPocketnest, the female-founded financial wellness platform, announces its latest $2.6M capital raise from a round led by .Marking nearly $5M raised to date, the funds will drive product development, sales and marketing initiatives, and support a 24-month runway.Leading up to this raise, the fintech experienced explosive growth since December 2021: None 75 percent growth in new clients, with 35 total clients, including , , , The Accel Group, TDC Investment Advisory, The Henry Ford, Altruist, Autobooks, and more. None 100 percent growth in development team headcount, reaching 20 total employees, with plans to expand the sales and marketing teams in 2023"We see massive growth and opportunity in Pocketnest and wholly align with their mission of spreading more inclusive access to financial wellness," said Ben Maxim, chief technology officer, Reseda Group; and chief digital strategy and innovation officer, MSUFCU. "The Pocketnest team stacked awards and accolades throughout the year, including with a corresponding .Even in this volatile market, we were able to secure $2.6M of capital in 10 daysa true testament to the value of our platform and the potential it represents for our clients, investors, and most of all, end users, said Jessica Willis, CEO and founder, of Pocketnest. Our scrappy, elbow-grease approach drives our consistent hockey-stick growth while sustaining a very generous runway.Pocketnest licenses its platform to financial institutions to boost their cross-sell opportunities; it also licenses to employee wellness programs to help employers boost recruitment, productivity, and retention. Built on behavioral science and psychology, Pocketnest coaches users through 10 themes of financial wellness.