OneMain Financial acquires Trim
Baltimore-based lending company OneMain Financial is planning to acquire money management app Trim to enhance its “digital features designed to help its more than 2.2 million customers progress to a better financial future.”
Founded in 2015, Trim is a 60-plus team helping consumers manage their financial goals by negotiating bills, analyzing transaction data and enabling automated savings. It provides users the option to link to checking, brokerage, mortgage and other accounts. Among its many services, the company cancels unwanted subscriptions and tracks customer spending.
The company has raised close to $12 million since its inception and has over 600,000 users who have linked bank accounts. It claims to deliver about $90 in annual savings to customers.
“The acquisition of Trim allows OneMain to further expand the ways we help hardworking Americans improve their financial well-being by supporting them in gaining more control over their finances. It advances our vision of providing solutions that enable a better future for customers. Over the past year we have sharpened our focus on driving innovation for our customers, including doubling down on our commitment to financial wellness .” – Doug Shulman, Chairman and CEO of OneMain Financial .
“Our mission at Trim has been to solve our users’ financial problems so that they can live the lives they want. In 2015, we started by tackling spending. As we grew, we addressed bigger financial problems, helping our users organize, track and ultimately improve their finances. We are excited to continue advancing our vision as part of the OneMain team and help the company bring more options to millions of hardworking Americans.” – Thomas Smyth, CEO of Trim.
Bottom Line: Clearcover announced its partnership with the company in 2019.