Daylight raises millions to build a digital banking platform ‘designed for and by’ the LGBTQ+ community –
Summary
Founded by LGBTQ+ entrepreneurs Rob Curtis (CEO), Billie Simmons, a trans woman (COO) and Paul Barnes Hoggett (CTO), Daylight is announcing today that it has secured $5 million in a seed funding round. In an interview with TechCrunch Curtis explained why he believes Daylight is uniquely positioned to help the population deal with challenges such as higher debt accumulation to factors such as pre-existing conditions, lower insurance levels, HIV management needs and [gender] transition costs. At the same time, many members of the community also have lower income levels due to “continued workplace discrimination.” “LGBT people engage with money really differently and there’s a multitude of reasons for that,” Curtis said. Kapor Capital Partner Brian Dixon believes that the fact that Daylight’s founders have personally experienced problems within the traditional banking industry gives them the necessary insight to help others in the LGBTQ+ community. Daylight’s unique features include a seamless card issuance process that allows trans and non-binary customers to order a card in their preferred name, book sessions with expert LGBTQ+ financial coaches, get peer-to-peer advice from their digital community and earn rewards that are meaningful to the LGBT+ community.” Daylight will offer features such as a checking account, the ability for members to get paid two days early, free ATMs and “no hidden fees,” according to Curtis.