Unifimoney secures $10m seed investment for its digital wealth management platform

By Edlyn Cardoza

Recently, Unifimoney Inc., a turnkey digital wealth management platform for Community Banks and Credit Unions, announced a $10m Seed round.

Unifimoney’s platform offers a comprehensive digital wealth management platform with trading of over 70 cryptocurrencies, passive and active investing in thousands of stocks, ETFs and precious metals. The investment will see Unifimoney extend its coverage of alternative assets, including collectables, sports memorabilia and NFTs, and a full suite of retirement accounts with traditional and alternative asset IRAs. The roadmap includes an investment rewards credit card allowing customers of Financial Institutions to earn points that can be redeemed for investable assets like crypto, stocks and gold.

Investors include Shop Your Way (part of Transform Holdco LLC), Oriza Ventures, Altair Capital, Global Millennial Capital, White Bay Group, Hard Yaka, Plug and Play, ICBA and several angel investors.

Unifimoney works with Financial Institutions’ existing technology partners and is integrated with leading core providers, including Jack Henry & Associates and Q2 with more in process. This means it requires zero additional development work or integration effort by Financial Institutions to implement and compliment’s their existing digital channels.

The company was founded in 2019 by Ben Soppitt, CEO and Ed Cortis, CTO. The pair recognised that a significant cultural shift in retail investing was underway, driven by digital access to conventional and new alternative assets and lower barriers to entry with commission-free trading and fractional investing. However, most financial institutions could not participate and serve changing customer needs leading them to risk being disintermediated from their customers.

“Unifimoney’s vision is to not just give Community Banks and Credit Unions parity with Big Brand Banks and Fintech’s but better more comprehensive and compelling value propositions in combination with their decades of service culture and existing banking products,” said Ben Soppitt Co-Founder, and CEO.