About First Dollar
First Dollar is a company based in Austin (United States) founded in 2019 by Jason Bornhorst was acquired by Inspira Financial in December 2024.. First Dollar has raised $19 million across 2 funding rounds from investors including Inspira Financial, BVF and Next Coast Ventures. The company has 20 employees as of December 31, 2021. First Dollar offers products and services including Health Wallet, Health Wallet Manager, Health Wallet Platform, and Pre-Tax Accounts. First Dollar operates in a competitive market with competitors including Lively, FSAFEDS and Devenir, among others.
- Headquarter Austin, United States
- Employees 20 as on 31 Dec, 2021
- Founders Jason Bornhorst
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Sectors
Technology
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Phone
*********
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Website
*********
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Social
*********
- Legal Name First Dollar, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$19 M (USD)
in 2 rounds
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Latest Funding Round
$14 M (USD), Series A
Jan 27, 2022
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Investors
Inspira Financial
& 12 more
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Employee Count
20
as on Dec 31, 2021
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Acquired by
Inspira Financial
(Dec 02, 2024)
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Products & Services of First Dollar
First Dollar offers a comprehensive portfolio of products and services, including Health Wallet, Health Wallet Manager, Health Wallet Platform, and Pre-Tax Accounts. 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.
App for managing individual health spending benefits securely
Software for admins to handle benefit programs efficiently
Platform for embedding health benefits into other systems
Tools for managing tax-free health expense accounts
Unlock access to complete
Funding Insights of First Dollar
First Dollar has successfully raised a total of $19M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $14 million completed in January 2022. 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 2
- Last Round Series A — $14.0M
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First Round
First Round
(05 May 2020)
- Investors Count 12
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2022 | Amount | Series A - First Dollar | Valuation | BVF | |
| May, 2020 | Amount | Seed - First Dollar | Valuation | Next Coast Ventures |
| 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 First Dollar
First Dollar has secured backing from 13 investors, including venture fund and angel investors. Prominent investors backing the company include Inspira Financial, BVF and Next Coast Ventures. 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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Funding is provided to healthcare startups by corporate-backed BVF.
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Founded Year | Domain | Location | |
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Early-stage technology companies are invested in via thematic research.
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Founded Year | Domain | Location | |
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Venture capital investments are focused on healthcare technology startups.
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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 First Dollar
| 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 - First Dollar
| 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 |
First Dollar Comparisons
Competitors of First Dollar
First Dollar 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 Lively, FSAFEDS and Devenir, 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 |
Health savings accounts are offered for tax-free healthcare investments.
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| domain | founded_year | HQ Location |
An app-based platform for managing savings on healthcare expenses.
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| domain | founded_year | HQ Location |
Offers solutions for HSA investment management.
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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 First Dollar
Frequently Asked Questions about First Dollar
When was First Dollar founded?
First Dollar was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Where is First Dollar located?
First Dollar is headquartered in Austin, United States. It is registered at Austin, Texas, United States.
Who is the current CEO of First Dollar?
Jason Bornhorst is the current CEO of First Dollar. They have also founded this company.
Is First Dollar a funded company?
First Dollar is a funded company, having raised a total of $19M across 2 funding rounds to date. The company's 1st funding round was a Seed of $5M, raised on May 05, 2020.
How many employees does First Dollar have?
As of Dec 31, 2021, the latest employee count at First Dollar is 20.
What does First Dollar do?
First Dollar was established in 2019 in Austin, United States, as an online savings platform in the fintech sector. Healthcare and retirement planning are managed through its services, with debit cards provided for allocating funds to savings and expenditures. Multiple health benefits plans are offered to users, supporting financial organization in these areas. Operations are conducted digitally, targeting individual savers.
Who are the top competitors of First Dollar?
What products or services does First Dollar offer?
First Dollar offers Health Wallet, Health Wallet Manager, Health Wallet Platform, and Pre-Tax Accounts.
Who are First Dollar's investors?
First Dollar has 13 investors. Key investors include Inspira Financial, BVF, Next Coast Ventures, Jonathan Bush, and Julia Cheek.