Charlie has announced it has raised $23m in Series A funding with TTV Capital serving as the lead investor. FPV also participated in the round as well as other seed investors including Better Tomorrow Ventures. The capital is a combination of $16m equity and $7m debt. This funding round comes six months after the company’s launch in May 2023.
Charlie helps retirees and soon-to-be-retirees make the most of their limited resources with features including faster access to their social security check, competitive 3% earnings on deposits and no monthly fees or minimums. It also includes US-based customer service and a simple, transparent digital experience designed with accessibility at the forefront.
Go deeper with GlobalData
Since its launch, the company has acquired customers in all 50 US states. Charlie will use the new funds to accelerate company growth and launch industry-first financial fraud protections specifically designed for the unique needs of older Americans. With over $28bn stolen from older Americans every year, Charlie’s anti-fraud tools look to help fight against financial fraud.
Charlie’s three key areas of growth
For older generations, staying afloat financially is harder than it once was. The days of remembering your grandparents giving you some change to go buy an ice cream or some flying saucers has been replaced with fears of fraud and a transition to digital banking. What once appeared simple, is now a much more complicated minefield.
Therefore, with this new funding, Charlie is investing in three key areas of growth. First of which is anti-fraud. Charlie will soon roll out a suite of personalised fraud protections designed specifically for the 62+ population. Using their habits, patterns, and preferences, Charlie’s anti-fraud tools will be a game-changer in the fight against financial fraud. Charlie is also investing in company growth and tech & product development after the recent funding.
Kevin Nazemi, co-founder and CEO of Charlie, said: “Charlie is on a mission to fundamentally transform financial services for the 62+ community and with this new funding, we are able to take great strides in doing just that. Everything we do at Charlie is designed to meaningfully address the unique challenges retirees and soon-to-be-retirees face financially and help them make the most of their limited resources to enjoy life.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“That’s why we’ll soon be rolling out industry-first, game-changing anti-fraud tools designed specifically for this population and their unique needs. I thank our outstanding investors for believing in Charlie’s vision and look forward to continuing to provide the 62+ community the peace of mind they deserve.”
