BankSimple

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General Info
  • Corporate name: BankSimple
  • Founded: /2008
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Short Description:

BankSimple is creating a better interface for banking through the Web and mobile apps. In partnership with financial institutions which will hold the actual deposits, BankSimple is focussing on creating a better customer experience and simplifying the banking process by unifying all accounts into one, accessible through a bank card.

Long Description:

BankSimple is creating a better interface for banking through the Web and mobile apps. In partnership with financial institutions which will hold the actual deposits, BankSimple is focussing on creating a better customer experience and simplifying the banking process by unifying all accounts into one, accessible through a bank card.

Rather than making money from different fees, BankSimple plans to split the net interest margin with its partner banks (the difference between the rate they lend at and the rate they pay to depositors), thus eliminating the incentive to push more confusing products at consumers.

 
Location
  • Continent:
  • Area:
  • State: New York
  • Country: United States
  • City: Brooklyn
Industry
  • IT
    • Venture Capital Firm
 
Fundings
Funding Total: $1,000,000
Round Date Amount Pre Amount Post Amount
Series B 08/10/2011 $1,000,000
Investors: First Round Capital, IA Capital Partners, Shasta Ventures, SV Angel, Village Ventures Funding: BankSimple Raises $10 M of Series B Funding
 
Founder

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