Consumer-first fintech platform EarnUp has launched operations in the US after securing $3m in seed funding.

The funding was provided by Blumberg Capital, Kapor Capital, Camp One Ventures, Fenway Summer Ventures, as well as other angel investors with an aim to speed up the platform’s development and expand user access.

San Francisco-based EarnUp, founded by Matthew Cooper and Nadim Homsany, has been designed to intelligently automate loan payments.

The platform automatically puts money aside for future loan payments whenever consumers can afford it, and later sends the payments and ensures that they are applied to lower debt faster.

"Millions of Americans suffer financial stress from income volatility, where their income doesn't match up with when loan payments are due. Our product solves this issue by effectively budgeting for the consumer. We help put money aside as it comes in, giving people peace of mind in knowing the money they need will be there when loan payments need to be made. We give control back to the consumer," Cooper said.

David Blumberg, founder and managing partner of Blumberg Capital, will join the board of directors of the fintech platform.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

"EarnUp has developed a consumer-first platform that makes this daily struggle simple and transparent. EarnUp's solutions enable consumers to reduce interest expense, budget better, and save more, in a simple and elegant service," Blumberg stated.