EarlyBird, a cell investing app for youngsters and their households, has raised $4 million in seed funding right now. Alexis Ohanian’s Seven Seven Six led the spherical, which featured strategic participation from Gemini’s Frontier Fund, Community Ventures, Rarebreed Ventures, and different angel and VC buyers. The corporate will use the capital to proceed constructing its resolution, add to its engineering, product, advertising and marketing, and operations groups, and introduce new options – together with the flexibility for customers to take a position and reward belongings aside from shares and ETFs, similar to cryptocurrencies.
The funding takes the corporate’s whole funding to greater than $7 million, having secured funding beforehand in November and January of final yr.
Utilizing a collaborative strategy to next-generation wealth constructing, EarlyBird allows mother and father to arrange an funding account, choose from a variety of diversified portfolio choices, and start making investments on behalf of their youngster. The platform additionally empowers members of a kid’s prolonged community of household, buddies, and others to contribute to the account (“gifted capital” EarlyBird calls it). Whether or not celebrating birthdays, holidays, or different events, these contributions aren’t solely distinctive reward choices, additionally they assist younger individuals start to be taught in regards to the significance of investing and constructing wealth over time. The expertise additionally has a characteristic that allows contributors so as to add a video or picture commemorating the reward.
“EarlyBird began with the imaginative and prescient to create an accessible manner for all households to start constructing wealth for his or her kids, and to take action with the assist, love, and contributions of their broader communities,” EarlyBird co-founder and CEO Jordan Wexler mentioned. “Since our launch, we’ve seen unimaginable development, adoption, and pleasure from households with a variety of economic information and backgrounds. Seven Seven Six and all of our new companions acknowledge the significance of economic entry and approachability in investing, and we’re thrilled to have them on board as we proceed to take flight.”
Headquartered in Chicago, Illinois, and based in 2019, EarlyBird just lately introduced a partnership with Benjamin Talks, a youth-oriented monetary schooling platform launched by co-founders Nikki Boulukos and Carissa Jordan final fall. The collaboration will carry Benjamin Talks content material to EarlyBird’s e-newsletter collection “The Weekend Worm” which provides inventory market information in an approachable manner that folks can share with their kids. This spring, EarlyBird launched its Presents for Good program. Beginning this April, EarlyBird chosen as much as three “extraordinary children between the ages of three and 12 years outdated to assist and put money into.” With a watch towards younger individuals exhibiting achievement in areas similar to music and the humanities, athletics, lecturers, and “particular acts of kindness,” EarlyBird will present a present funding of $250 to every youngster chosen to seed their funding accounts.
“Investing instruments are solely obtainable to households with investing information and expertise constructing generational wealth,” EarlyBird COO Caleb Frankel mentioned in a press release accompanying right now’s funding information. “We’ve got a daring imaginative and prescient to make investing obtainable for everyone. We’re driving wealth creation not throughout the system of right now, however for the world of tomorrow.”
Make sure you take a look at our interview with Jordan Wexler from earlier this yr.
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