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AntMoney
Microinvestment and savings apps
- 21-100 employees
- Fintech
- B2C
- Personal finance
- Gaming
- Investing
- Newport Beach, CA
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Company mission
To help users earn money to save and invest.
Our take
Financial pressures have many, especially in the younger generations, seeking out alternative and passive wealth generation strategies - they’re typically excluded, however, from traditional investments like real estate. Add to that the widespread lack of savings (over half of the US population has less than $1,000 put away), and it’s clear to see why microinvesting platforms have ballooned in popularity over recent years. Ant Money is one of them.
The platform comprises three main apps: ATM (helping users earn money with brand engagement like paid surveys), Learn&Earn (financial literacy education), and Blast (helping users save whilst gaming). All help users open and use investment accounts to help build their wealth. This diverse offering means it sits somewhere in between other Learn & Earn products (like those from Coinbase or RabbitHole), microinvestment platforms (like Robinhood) and automatic savings apps (like one of the co-founders’ first projects, Acorns).
Straddling these three areas means AntMoney benefits from meagre customer acquisition costs, whilst having plenty of leeway to develop advertising and brand partnerships from major fintech and enterprise players. Whether being spread this relatively thin will help or hinder them in a hotly competitive market, however, remains to be seen.
Steph
Company Specialist at Welcome to the Jungle
Benefits
- Comprehensive benefits
- Unlimited paid time off
Funding (1 round)
Dec 2021
$20m
SERIES A
Total funding: $20m
Leadership
Michael Gleason
(CEO)Previously led and co-founded InMyArea.com and Blast, then separately served as CEO of Learn & Earn App, and co-founded drinks company PURPS.
Walter Cruttenden
(Chairman)Served as CEO of Blast, and is currently Chairman of Acorns, President of Cruttenden Partners, and Executive Director of the Binary Research Institute.