Fintech Closes Seed Round With New Institutional Investor, Raises $1.95m to Date
Pocketnest, the female-founded financial wellness platform, announces its latest institutional investor, Reseda Group, a wholly-owned Credit Union Service Organization of MSU Federal Credit Union, for its seed round co-led by The Impact Seat and ID Ventures.
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Since 2020, the fintech has earned significant traction:
- 156 percent growth in enterprise customers, at a 15 percent monthly growth rate
- 115 percent increase in users, at a 14 percent monthly growth rate
- 63 percent increase in user engagement, at a 25 percent monthly growth rate
“Reseda Group is proud to partner with Pocketnest,” said Ben Maxim, CTO, Reseda Group and VP Digital Strategy & Innovation, MSUFCU. “We invest in dynamic companies—like Pocketnest—that strive to create a better member experience and change how people think about personal finance. Pocketnest makes financial wellness attainable to all our members, from those with $100 to $100,000. We’re excited to be part of their story.”
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Last month, MSUFCU released Pocketnest to its ~320,000 members, and increased members’ financial wellness by 30 percent1. MSUFCU is one of Pocketnest’s 23 institutional customers, including 4Front Credit Union, Lake Trust Credit Union, the Foundation for Financial Wellness, and The Henry Ford.
“MSUFCU has been an incredible partner, from employee wellness pilot to member release to strategic funding partner,” said Jessica Willis, founder and CEO, Pocketnest. “We’re grateful for our incredible team, Reseda Group, MSUFCU and our innovative clients driving our growth and ability to spread financial wellness.”
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