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Moven Rounds Up $12 Million in Funding for International Expansion

Moven_homepage_Oct2015

Mobile banking innovator Moven has picked up $12 million in new funding. The investment round was led by Route 66 Ventures, and takes Moven’s total capital to more than $24 million. Anthemis Group, Atlas Asset Management, NY Angels, and Raptor Group’s Jim Palotta also participated in the series B round.

The new capital will help Moven expand internationally, particularly into Canada and New Zealand. Moven announced a partnership with TD Canada last December, and has been working with New Zealand’s Westpac since August 2014.

Moven_stage_FS2015

Moven CEO and founder Brett King demonstrated Moven Financial Health Platform at FinovateSpring 2015 in San Jose.

In addition to deals with TD Canada and Westpac, Moven inked a deal with Accenture in May, in which the two would “jointly develop next-generation digital banking solutions.” The agreement also called for building solutions that will help banks worldwide adopt digital technology faster, more efficiently, and less expensively.

Winner of a Best of Show award at FinovateSpring 2015 for its Financial Health Platform, Moven was founded in 2011 and is headquartered in New York City. The company launched its mobile-first bank to the public in March 2014, and has since partnered with MoneyDesktop (now MX), and taken its mobile technology to wearables via Motorola’s Moto 360 and Samsung Gear smartwatches. Moven’s CEO and founder Brett King is the host of Breaking Banks, a weekly radio program on disruption in banking.