Earnest Raises $275M

What does Earnest do?

Earnest, is a new kind of financial services company which is blending technology, design and service to rebuild modern banking from the ground up. It is a merit based lender which approaches differently for credit and personal lending. It is a tech company which is using data science, smart design and great service for rebuilding financial services. The company was founded with the idea that people who are financially responsible deserve the access to credit and better options. Its lending products are built for the new generation who aim to reach milestones in life. The company is on a mission of democratizing access to high quality financial services.

How much Earnest was funded?

Earnest raised $200 in Debt financing on  November 17, 2015 from New York Life Investment Management. It has also raised $75M in Series B on November 17^th, 2015 from Jose Marin, Brendan Wallace, Fabrice Grinda, Battery Ventures and New York Life Insurance Co.

Previous funding

$4.3M in undisclosed series announced  on May 20, 2014 and closed on November, 2014 from Andreessen Horowitz, Maveron, Atlas Venture, Slow Ventures, Collaborative Fund and  First Round

$19.8M in Series A on January 27, 2015 from Correlation Ventures, Maveron, Wildcat Venture Partners, Atlas Venture, Andreessen Horowitz,  First Round, Collaborative Fund, QueensBridge Venture Partners and Brendan Wallace.

What is next for Earnest?

The company plans to use the $75 round of equity growth funding for continuing building out its rapidly expanding data, technology and engineering teams. This additional team and capital will help the company in continuing the introduction of new, transformational financial products, resources and tools in the coming year as the company continues to expand into additional consumer financial verticals.

More about Earnest

Earnest was founded in 2013 by Louis Beryl and Benjamin Hutchinson. It has its headquarters in San Francisco, California.