Happy Money, a leading platform for unsecured lending in partnership with credit unions, today announced it has closed a Series D-1 capital raise to accelerate its growth and empower more people to use money as a tool for happiness. The $50 million of capital from investors including Anthemis Group and CMFG Ventures recognizes the company’s success as it joins the ranks of fintech unicorns with a pre-money valuation of $1.1 billion. The rapidly-growing fintech company develops financial tools with members’ best interests at heart, including its award-winning Payoff Loan, which helps members consolidate and pay off credit card debt and experience less financial stress.
“Our growth trajectory and latest capital raise reflect the strength of our business and team – and demonstrate investors’ continued confidence in Happy Money’s ability to grow rapidly,” said Jeff Winner, CEO of Happy Money. “This funding positions us to accelerate development and expansion of our products, including an end-to-end lending API, and deepen our partnerships.”
“Anthemis invests in the next generation of fintech leaders like Happy Money that share our values of diversity, inclusivity, and customer-centric innovation,” said Sean Park, Founder of Anthemis Group. “Happy Money has a proven track record of delivering a lending experience that benefits its partners and consumers alike, and I can’t wait to see all they will accomplish in the years to come.”
The capital raise comes on the heels of a strong Q4 in a record-breaking year, an average 42% YoY growth in originations from 2018 to 2021, and technology veteran Jeff Winner’s appointment as permanent CEO and Board member. Prior to Happy Money, Jeff held leadership roles at Twitter and Stripe, and was the Chief Technology Officer for Marcus, Goldman Sachs’ Consumer Business, where he led the development of the Apple Card and pioneered the first cloud-based Goldman Sachs product.
“When we conducted the search for Happy Money’s next CEO, it was obvious to us that Jeff was the perfect choice with his blend of operational excellence and technological expertise,” said Tracy Edkins, former CHRO of Splunk, who joined the Happy Money Board of Directors in 2021. “From CTO to COO and now as CEO, Jeff has demonstrated remarkable leadership and has proven his ability to take the company into its next phase of innovation and growth.”
In addition to Jeff Winner, Scott Walchek, Founder and CEO of Trōv, recently joined the Board alongside existing members: Anjali Kumar, former General Counsel and Head of Social Innovation, Warby Parker; Brian Kaas, Managing Director, CMFG Ventures; Joe Saunders, former CEO, Visa; Sean Park; and Tracy Edkins.
About Happy Money
Happy Money is a financial technology company on a mission to develop and deliver affordable, accessible financial tools and services that empower people to use money as a tool for their happiness. Members benefit from loans funded by a national network of customer-focused lending partners and designed to help them accomplish their goals.
Backed by leading investors, Happy Money has helped nearly 205,000 members since inception – working with lending partners to fund $3.7 billion in loans*. Founded in 2009, Happy Money has a passionate and purpose-driven employee base of approximately 400 people across the United States. For more information, please visit happymoney.com.
*As of 12/31/2021
SOURCE Happy Money