Happy Money raises $70 million
Happy Money , the fintech company enabling people “to break up with their credit cards,” announced a $70 million Series D round led by CMFG Ventures, LLC, the venture capital entity of CUNA Mutual Group , to accelerate its growth, further enable partnerships with credit unions, and fuel its broader mission of “helping borrowers become savers.” In addition to the investment, Happy Money has formed a strategic partnership with CUNA Mutual’s national sales force, which has a product relationship with over 95% of all credit unions in the country.
Happy Money’s current product ecosystem helps members pay off debt, save money and evaluate their “happy” and “sad” spending patterns. Happy Money has also developed Happy Score™, an innovative approach to better measure financial well being using cash flow, savings, behavioral and psychometric data.
“This successful fundraise is a direct validation of the Happy Money movement and ultimately strengthens our position against what we call ‘Sad Money.’ Mindful capitalism is the future, and we’re leading the charge. We’re committed to helping our members build a happier relationship with their money through our Happy Money ecosystem, which connects lending, spending, and savings products. We’re excited to add CMFG Ventures to our list of strategic investors who believe in eliminating ‘Sad Money’ on a national scale.” – Scott Saunders, CEO and founder of Happy Money.
“We were drawn to Happy Money because of their innovative approach to providing financial tools and services focused on human happiness, as well as their shared ethos with credit unions to serve members and communities. We are confident in Happy Money’s experienced leadership team and are excited to help accelerate their ability to forge partnerships with and bring innovative lending and savings offerings to credit unions and other mission-aligned organizations.” – Brian Kaas, Vice President of Corporate Development at CUNA Mutual Group and President and Managing Director of CMFG Ventures.