About Purpose Finance
Purpose Finance is a company based in San Francisco (United States) founded in 2020 by Brendan Tobin, Anna Matalon, and Jon Sheller.. Purpose Finance has raised $125 thousand across 1 funding round from investors including Y Combinator. Purpose Finance operates in a competitive market with competitors including Funding Circle, Chime, Stash, Dave and Albert, among others.
- Headquarter San Francisco, United States
- Founders Brendan Tobin, Anna Matalon, Jon Sheller
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Sectors
Financial Services
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Email
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Phone
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$125 K (USD)
in 1 rounds
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Latest Funding Round
$125 K (USD), Seed
Oct 01, 2021
- Investors
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Employee Count
Employee Count
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Funding Insights of Purpose Finance
Purpose Finance has successfully raised a total of $125K through 1 strategic funding round. The most recent funding activity was a Seed round of $125 thousand completed in October 2021. 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 1
- Last Round Seed — $125,000
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First Round
First Round
(01 Oct 2021)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2021 | Amount | Seed - Purpose Finance | Valuation | Y Combinator |
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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 Purpose Finance
Purpose Finance has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Y Combinator. 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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Early-stage startups are accelerated via funding and educational programs.
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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 Purpose Finance
| 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 - Purpose Finance
| 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 |
Purpose Finance Comparisons
Competitors of Purpose Finance
Purpose Finance 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 Funding Circle, Chime, Stash, Dave and Albert, 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 |
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| domain | founded_year | HQ Location |
A peer-to-peer marketplace for business loans is operated and developed.
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| domain | founded_year | HQ Location |
Digital banking services are offered to individuals via mobile apps.
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| domain | founded_year | HQ Location |
Automated investment and robo-advisory services are offered to individuals.
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| domain | founded_year | HQ Location |
Digital banking services are provided for easier financial management.
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| domain | founded_year | HQ Location |
Digital banking app is offered for savings, investing, and budgeting.
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| domain | founded_year | HQ Location |
Digital banking solutions are offered to individuals through mobile apps.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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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Frequently Asked Questions about Purpose Finance
When was Purpose Finance founded?
Purpose Finance was founded in 2020 and raised its 1st funding round 1 year after it was founded.
Where is Purpose Finance located?
Purpose Finance is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Who is the current CEO of Purpose Finance?
Anna Matalon is the current CEO of Purpose Finance. They have also founded this company.
Is Purpose Finance a funded company?
Purpose Finance is a funded company, having raised a total of $125K across 1 funding round to date. The company's 1st funding round was a Seed of $125K, raised on Oct 01, 2021.
What does Purpose Finance do?
Purpose Finance was founded in 2020 in San Francisco, United States, as a fintech platform in the financial services sector. Alternative savings accounts, loans, and deposit options are provided for individuals and businesses, including checking accounts and growth capital. Operations focus on enabling ethical deposits, with consumer funds directed toward ethical lending practices. Services are delivered through an online domain.
Who are the top competitors of Purpose Finance?
Purpose Finance's top competitors include Chime, Funding Circle and Albert.
Who are Purpose Finance's investors?
Purpose Finance has 1 investor. Key investors include Y Combinator.