FinTron Raises $6.5M in Series A Funding Round to Bring Greater Financial Freedom to First Generation Mobile
New funding will allow FinTron to expand its organization and advance its technology and product offerings
STAMFORD, Conn., June 1, 2022 /PRNewswire/ — FinTron, an investment and personal finance app on a mission to democratize personal finance for first-generation mobile, today announced the close of its $6.5 million Series A funding round, bringing the total funds raised by the company to nearly $10 million. The funds will allow FinTron to expand its organization, employ world-class talent, and upgrade its technology and product offerings to include a new rewards engine, crypto trading capabilities, enhanced education and Neo-Bank offer.
In keeping with its mission to educate Gen Z and millennial audiences about personal finance, FinTron provides financial literacy programs to thousands of high school and college students across the country. The company acquired nearly 12,000 new users in 2021 alone and grew the number of employees in the organization by more than 300%. Led by 26-year-old CEO and Connecticut resident, Wilder Rumpf, and one of the youngest founding teams to ever register a broker, FinTron has created a nationwide digital footprint serving clients in 52 states and territories.
With new funding and backing from key investors including AUA Capital Management, Connecticut Innovations, Sage Venture Partners and Webster BankFinTron is poised to grow and evolve at a rapid pace.
“We are grateful to our core investors for their support of our vision to bring financial inclusiveness to 99%,” Rumpf said. “Our founding mission remains the same. We are focused on making personal finance accessible, understandable and achievable for the mobile generation. With the support of our investors and key new hires, we can now accelerate our efforts to upgrade our product and meet our ambitious growth targets.”
For generations, personal finances have been handled the old-fashioned and complicated way. For this generation, there is FinTron. With the support of great Connecticut based institutions including Connecticut Innovations, Sacred Heart University and the University of ConnecticutFinTron has recruited more than 75% of its employees from Connecticut and 100% of the tri-state area. To learn more about FinTron, visit FinTroninvest.com.
We promote financial freedom for the mobile first generation through better education, affordable financial products and philanthropic giving programs. For generations, personal finances have been handled the old-fashioned and complicated way. For this generation, there is FinTron.
About Sage Venture Partners
Sage Venture Partners (SVP) is an evergreen venture capital firm that invests in early stage startups across various industries. The firm supports proven entrepreneurs with a solid strategic vision. Sage Venture Partners is founded and led by Frederick J. Warren. Prior to Sage Venture Partners, Mr. Warren co-founded Brentwood Associates, which became a leading private equity and venture capital firm on the West Coast and was an early backer of Apple Computer.
About Connecticut Innovations
Connecticut Innovations (CI) is Connecticut strategic venture capital arm and the primary source of ongoing funding and support for Connecticut innovative and growing companies. CI provides venture capital and strategic support to early-stage technology companies, financial support for innovation and collaboration, and connections to its well-established network of partners and professionals. For more information, please visit http://www.ctinnovations.com.
About AUA Capital Management
A family office and alternative-oriented investment company that traces its origins to the Unanue Family Office founded by Andy Unanethe former COO and interim board member of Goya Foods, Inc., and the late Joseph Unanue, longtime CEO of Goya. Led by the President Michael Salernothe AUA family office focuses on both public markets and private market venture capital, growth capital, commercial real estate and alternatives-focused investments.
About Webster Bank
With over $60 billion of assets and whose head office is located at Stamford, Connecticut, Webster Bank serves consumers and businesses throughout Northeast New York at Massachusetts. Webster Bank is one of only two banks in Connecticut be among the 100 largest listed banks.
SOURCE FinTron, Inc.