Savings and financial education platform goal setter It has raised $9.6 million in new funding.
Company's Series A extension roundThe announcement on Monday (March 25) was led by an affiliate of Edward Jones. mass mutual through it MM Catalyst FundWith the participation of past investors including fiserv and webster bank.
“With this funding, we will strengthen our B2B services, forge stronger partnerships with credit unions, banks, and wealth management institutions, and expand our reach and influence to help the next generation become smart savers. and investors to ensure growth,” said Goalsetter Founder and CEO. Tanya Van Court said in a news release.
According to the release, Goalsetter works with large financial services companies such as Fiserv, Trastage, and CUNA Strategic Services, as well as financial institutions such as MSU Federal Credit Union, InTouch CU, Solutions Bank, and Liberty Bank.
The new funding will enable the company to secure further partnerships with financial institutions, including banks and credit unions, and launch new partnerships by the end of the year.
As PYMNTS wrote last month, many credit unions are working with schools to improve financial literacy by teaching students money management skills.
For example, Belco Credit Union recently partnered with Economic Literacy Colorado (ELC), a nonprofit organization that provides professional development skills to K-12 teachers, to create Financial $marts, a free educational activity book for high school students. We made our debut.
“From buying groceries to getting a credit card to applying for a bank loan, making financial decisions is part of everyday life. Increase financial literacy This is a core life skill that everyone should have,” the report states.
And this work needs to start early to give children and teens a solid foundation for financial independence. Will CarmichaelCEO of a UK-based fintech company natwest rooster moneysaid in an interview with PYMNTS.
“Research shows that we develop many of our money habits by the age of seven,” Carmichael said. cashless transactionmaking the concept of money tangible for young children without cash has become a new imperative.
Meanwhile, PYMNTS reported earlier this month that consumers are saving less for emergencies compared to a year ago, with the personal savings rate in January at 3.8%, down from 4.8% for consumers. I ran away last summer.
“While this trend may not be immediately alarming, it could become a problem in the future if consumers encounter unexpected expenses, and the average American is facing a financial emergency.” The odds are high,” PYMNTS wrote.
According to a PYMNTS Intelligence study: 56% of consumers Recently, I was faced with large unexpected expenses averaging $5,500.
