Fintech Startup Digit Closes $22.5M Series B Funding
Summary
Digit, a San francisco, CA-based fintech startup closed a $22.5M Series B round of funding.The round was led by Ribbit Capital with participation from General Catalyst and other existing backers.The company, which has raised $36m to date, intends to use the funds to continue to develop the platform and expand adoption of the service.Founded in February 2015 and led by CEO Ethan Bloch, Digit provides an app that every few days checks user’s spending patterns and moves a few dollars from his/her checking account to the Digit account, if affordable.Completely free, Digit automatically figures out when and how much is safe to save based on the user’s lifestyle.
Funding
Amount
$22.5M
Total raised
Date
June 2, 2016
Announcement date
Investors
General Catalyst
Lead investors
Company
http://www.digit.co
Funded company
Classifications
industries
InsurTech
applications
Fraud & Anti-money laundering
AskAI Classifications
Labels
No AI classifications detected
Linked Companies
Digit
$1M to $5M