Digital banking platform Good Money, which offers peer to peer banking services, has raised $30m in Series A funding round.
The round was led by Galaxy Digital through its Galaxy EOS VC Fund with additional investments from Breyer Capital, Blocktower Capital, Ken Howery, Blockchange Ventures, Cross Culture Ventures and Troy Carter, among others.
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The new funding will be used by the company for the further development of the platform.
What does digital banking platform Good Money offer?
Led by entrepreneur Gunnar Lovelace, Good Money offers values-based banking services to its customers.
The services include FDIC insured savings accounts with 2% interest, free ATM services across the US, no-overdraft fees and consumer loan services.
Every customer, after opening an account, receives a certain equity stake in the company. The users can also receive additional equity in the Good Money after installing the app, by referring friends and setting up a direct deposit.
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By GlobalDataLovelace said: “We founded Good Money to help consumers take their money out of a system that’s both destroying the planet and extracting wealth from the most vulnerable and put it into a new system focused solely on benefiting people and planet.”
Galaxy Digital co-founder and co-head of principal investments Sam Englebardt said: “The combination of an activist brand with deep direct-to-consumer experience at scale, positions Good Money to be a leader in the historic disruption of the banking industry.
“We launched Galaxy’s EOS VC fund with our partners at Block.one in order to back exceptional founders who are capable of transforming consumer understanding and adoption of the blockchain.”
