Good Money is an American digital online banking platform, often called a neobank, founded by Gunnar Lovelace.[1] Good Money directs 50% of its profits toward environmental and social justice initiatives through impact investments and charitable donations. As a digital platform, Good Money takes no ATM or overdraft fees. The platform's customers vote on where Good Money will invest profits, but their options only include sustainable investments.[2] It is based in San Francisco.[3][4]
Good Money was founded in 2018.[5] Gunnar Lovelace was founder of organice-commerce company Thrive Market, a direct-to-consumer online grocery store. In December 2018, Good Money announced that it had raised $30 million with a group of investors including Galaxy Digital, Breyer Capital, Mitch Kapor, and Ken Howery.[2][6]
In January 2019, customers started joining a waitlist to start their accounts. Every customer will potentially get equity in the company when opening an account and can build up that equity by using the service.[7]
Productsedit
The company offers FDIC-insured checking and high-yield savings accounts.[8] When account holders sign up, they are offered a stake in the bank, making it the first digital banking platform that will be owned by its customers.[9] Customers can receive additional equity by installing the Good Money app, setting up a direct deposit, or referring friends.[7]
Referencesedit
^Thorpe, Devin. "'Hippie' Immigrant Launches Good Money Banking Co-Op For The People". Forbes. Retrieved 2021-09-24.
^ abAnzilotti, Eillie (2018-12-10). "At this new online banking platform, customers are the owners". Fast Company. Retrieved 2021-05-10.
^"Digital banking platform Good Money gets $30M in funds".
^Anzilotti, Eillie (2018-12-10). "At this new online banking platform, customers are the owners". Fast Company. Retrieved 2021-09-24.
^Schlagenhauf, Wes (2018-12-13). "Is it possible for banks to have a conscience? Good Money thinks so". The Hustle. Retrieved 2021-05-10.
^ ab"Digital banking platform Good Money gets $30M in funds". www.bizjournals.com. December 10, 2018. Retrieved 2021-05-10.
^"Ethical bank Good Money raises $30 million". Impact Alpha. 2018-12-12. Retrieved 2021-05-10.
^"DealBook Briefing: Guess Who Said 'I Do Not Respect the S.E.C.'?". The New York Times. 2018-12-10. ISSN 0362-4331. Retrieved 2021-05-10.
External linksedit
Official website
Good Money in LinkedIn
April 10, 2024
good, money, song, kilo, kish, american, digital, online, banking, platform, often, called, neobank, founded, gunnar, lovelace, directs, profits, toward, environmental, social, justice, initiatives, through, impact, investments, charitable, donations, digital,. For the song by Kilo Kish see Good Money Good Money is an American digital online banking platform often called a neobank founded by Gunnar Lovelace 1 Good Money directs 50 of its profits toward environmental and social justice initiatives through impact investments and charitable donations As a digital platform Good Money takes no ATM or overdraft fees The platform s customers vote on where Good Money will invest profits but their options only include sustainable investments 2 It is based in San Francisco 3 4 Good MoneyCompany typePrivate company CooperativeIndustryFinancial technology financial servicesFounded2018 6 years ago 2018 HeadquartersSan Francisco United StatesArea servedUnited StatesKey peopleGunnar Lovelace founderProductsChecking account and high yield savings accountsWebsitewww wbr goodmoney wbr com Contents 1 History 2 Products 3 References 4 External linksHistory editGood Money was founded in 2018 5 Gunnar Lovelace was founder of organic e commerce company Thrive Market a direct to consumer online grocery store In December 2018 Good Money announced that it had raised 30 million with a group of investors including Galaxy Digital Breyer Capital Mitch Kapor and Ken Howery 2 6 In January 2019 customers started joining a waitlist to start their accounts Every customer will potentially get equity in the company when opening an account and can build up that equity by using the service 7 Products editThe company offers FDIC insured checking and high yield savings accounts 8 When account holders sign up they are offered a stake in the bank making it the first digital banking platform that will be owned by its customers 9 Customers can receive additional equity by installing the Good Money app setting up a direct deposit or referring friends 7 References edit Thorpe Devin Hippie Immigrant Launches Good Money Banking Co Op For The People Forbes Retrieved 2021 09 24 a b Anzilotti Eillie 2018 12 10 At this new online banking platform customers are the owners Fast Company Retrieved 2021 05 10 Digital banking platform Good Money gets 30M in funds Anzilotti Eillie 2018 12 10 At this new online banking platform customers are the owners Fast Company Retrieved 2021 09 24 Good Money Company Profile Valuation amp Investors PitchBook pitchbook com Retrieved 2021 09 24 Schlagenhauf Wes 2018 12 13 Is it possible for banks to have a conscience Good Money thinks so The Hustle Retrieved 2021 05 10 a b Digital banking platform Good Money gets 30M in funds www bizjournals com December 10 2018 Retrieved 2021 05 10 Ethical bank Good Money raises 30 million Impact Alpha 2018 12 12 Retrieved 2021 05 10 DealBook Briefing Guess Who Said I Do Not Respect the S E C The New York Times 2018 12 10 ISSN 0362 4331 Retrieved 2021 05 10 External links editOfficial website Good Money in LinkedIn Retrieved from https en wikipedia org w index php title Good Money amp oldid 1178844716, wikipedia, wiki, book, books, library,
