About FinFit
FinFit is a company based in Virginia Beach (United States) founded in 2008. It operates as a FinTech, and Subscription Services. FinFit has raised $23 million across 3 funding rounds from investors including Ares Management, Galaxy and Bison Capital. The company has 33 employees as of December 31, 2022. FinFit offers products and services including FinFit SafetyNet, Emergency Savings, Emergency Credit, and Personal Loan. FinFit operates in a competitive market with competitors including Upstart, Upgrade, Laurel Road, Tala and LendKey Technologies, among others.
- Headquarter Virginia Beach, United States
- Employees 33 as on 31 Dec, 2022
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Finfit Ops, Llc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$23 M (USD)
in 3 rounds
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Latest Funding Round
$7 M (USD), Series B
Jul 30, 2019
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Investors
Ares Management
& 2 more
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Employee Count
33
as on Dec 31, 2022
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Products & Services of FinFit
FinFit offers a comprehensive portfolio of products and services, including FinFit SafetyNet, Emergency Savings, Emergency Credit, and Personal Loan. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
A platform combining savings and credit for employees.
Automatic savings directly from employee paycheck are enabled.
Funds are provided for unexpected employee financial needs.
Loans are offered to manage debt at lower rates.
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Funding Insights of FinFit
FinFit has successfully raised a total of $23M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $7 million completed in July 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $7.0M
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First Round
First Round
(01 Dec 2016)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2019 | Amount | Series B - FinFit | Valuation | Galaxy | |
| Mar, 2018 | Amount | Debt – Conventional - FinFit | Valuation |
investors |
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| Dec, 2016 | Amount | Series A - FinFit | Valuation | Bison Capital |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in FinFit
FinFit has secured backing from 3 investors, including institutional and venture fund investors. Prominent investors backing the company include Ares Management, Galaxy and Bison Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Buyouts are targeted through private equity investments by the firm.
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Founded Year | Domain | Location | |
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Alternative asset investment management firm
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Founded Year | Domain | Location | |
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Galaxy is recognized as a leader in digital assets and data center infrastructure.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by FinFit
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - FinFit
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Finfit Comparisons
Competitors of FinFit
FinFit operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Upstart, Upgrade, Laurel Road, Tala and LendKey Technologies, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Diversified loans are provided via an AI-enabled online marketplace.
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| domain | founded_year | HQ Location |
Consumer credit and banking products are offered to individuals.
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| domain | founded_year | HQ Location |
Student loan refinancing, mortgages, and personal loans are offered online.
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| domain | founded_year | HQ Location |
Fintech services for credit, savings, and payments are delivered globally.
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| domain | founded_year | HQ Location |
Student & Home improvement loans online by local community lenders
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Finfit
Frequently Asked Questions about FinFit
When was FinFit founded?
FinFit was founded in 2008 and raised its 1st funding round 8 years after it was founded.
Where is FinFit located?
FinFit is headquartered in Virginia Beach, United States. It is registered at Virginia Beach, Virginia, United States.
Who is the current CEO of FinFit?
George Skakel is the current CEO of FinFit.
Is FinFit a funded company?
FinFit is a funded company, having raised a total of $23M across 3 funding rounds to date. The company's 1st funding round was a Series A of $16M, raised on Dec 01, 2016.
How many employees does FinFit have?
As of Dec 31, 2022, the latest employee count at FinFit is 33.
What does FinFit do?
Financial wellness programs are offered by FinFit to enhance employee financial stability. Solutions include the FinFit SafetyNet platform, which integrates emergency savings, credit access, and personal loans. These services are designed to assist employees in managing unexpected expenses, reducing debt, and avoiding high-cost borrowing options. The company targets employers and employees across various sectors, focusing on those living paycheck to paycheck. Measurable impacts are achieved in employee retention, productivity, and financial stress reduction. Partnerships with employers from small businesses to enterprises are established to deliver tailored financial tools and resources.
Who are the top competitors of FinFit?
FinFit's top competitors include Upstart, Upgrade and Laurel Road.
What products or services does FinFit offer?
FinFit offers FinFit SafetyNet, Emergency Savings, Emergency Credit, and Personal Loan.
Who are FinFit's investors?
FinFit has 3 investors. Key investors include Ares Management, Galaxy, and Bison Capital.
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