RALEIGH – WalletFi, under the business name StartStopMove Inc., has raised another $85,000 in a private debt offering, according to a recent filing with the Securities and Exchange Commission.
The Raleigh-based company is a subscription management platform sold to community financial institutions and fintech companies to help increase and maximize retention.
Five investors contributed to the round, which kicked off on July 9.
Its CEO and cofounder Marc Miller told WRAL TechWire that WalletFi is currently raising $250,000 to “support current customers, scale sales and marketing, and make strategic technology investments.”
The company also hired its first chief technology officer, Dan Obernesser, in April and “continues to sign new customers during the pandemic.
“WalletFi is uniquely positioned to help our community bank and credit union customers during the pandemic, delivering a personalized service to enhance their customers and members financial wellbeing,” Miller said.
The company has raised roughly $700,000 in debt since 2017.
Its other cofounder, Alain Glanzman, recently received his MBA from the Kenan-Flagler Business School at UNC-Chapel Hill.
Glanzman served as chief executive officer from May 2016 to November 2019. He currently sits on the board of directors, according to his LinkedIn account.
Prior to receiving his MBA, Glanzman worked as a consultant for nonprofits and Fortune 500 companies. He has also held various entrepreneurial positions including working as a global product manager with WomanCare Global in London and as a consultant at Keen Strategy LLC in Raleigh.
Glanzman was also a venture capital MBA associate at IDEA Fund Partners and an entrepreneur at SoFi in San Francisco, California before leading the WalletFi and StartStopMove start-ups.