Good Money raises $30M for first consumer owned digital bank
Cross Culture Ventures portfolio company Good Money, the first digital banking platform to be owned by its customers, featuring best in class online and peer to peer banking services, announced today they have raised $30 million in Series A funding.
In a historic first, every customer will receive equity when they open an account and will become an owner of the banking platform. In a revolutionary effort to democratize access to ownership and wealth creation, users may earn additional equity by installing the app, setting up a direct deposit or referring friends.
Additionally, Good Money users will direct 50% of the platform’s profits to impact projects focused on social and economic inequality, environmental stewardship and renewable energy. Good Money’s founding team has also pledged 50% of their equity to philanthropy and impact. How we bank is one of the most important decisions we can make, yet there is not currently a values-based, customer owned bank in the US that has social and environmental activism woven into its business model.
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