As an app development firm, nothing gives us better satisfaction than building apps that add real value for our clients. In 2021, our clients managed to secure fundings to further grow their products. It shows the investors’ strong belief in our client’s business model and the underlying app technologies.
Check out the innovative business models of two of our clients and how they’ve attracted funders in 2021.
Aspiration ($175 million - Round C)
Meet Aspiration, the socially conscious company that has taken the financial industry by storm. It was founded by Andrei Cherny, who has substantial experience in the environmental and economic sectors.
Aspiration offers cash management services that are somehow similar to banks, except that it emphasizes people-first policies. Users can spend, save and invest with the Aspiration app. Gamification is part of the Aspiration app and it keeps the users engaged.
The app allows people to be more conscious of their shopping habits and how they impact the environment. With features like Aspiration Impact Measurement, users are aware of the trails of carbon footprints they left in their transactions.
Funding
Funding does come easy for an unconventional financial business model like Aspiration. Early attempts at attracting investors are discouraging. There are, however, investors who believe that Aspiration has what it takes to shake up the financial sector.
Jeff Skoll, the co-founder of eBay, was one of the early investors. It brings the startup’s latest funding to $175 million.
Altruist ($50 million Series B)
Altruist is on a mission to simplify a modern financial planner’s job and does it in an inexpensive way. Its app allows independent financial planners to manage accounts, prepare billings, monitor performance, and more in an integrated environment. It also enables investors to manage their portfolio with just a mobile phone.
Jason Wenk, the founding CEO of the startup, hopes to drastically reduce the software cost for financial planners and disrupt an industry plagued by outdated, costly technologies. With a generous offer of 100 free accounts and a $1 monthly fee for additional ones, Altruist is staying true to its words.
Funding
Altruist’s ambitious bid to shake up the financial planning landscape doesn’t go unnoticed. It has recently secured a Series B funding of $50 million led by new investors, Insight Partners, Vanguard, and an existing backer, Venrock.
The move sees Jon Rosenbaum, Principal of Insight Partners joining the board, Meanwhile, Jeff Horing, co-founder of Insight Partners is taking an observer seat at the board.
With the latest funding, Altruist has the capital it seeks to further innovate its existing products. The LA-based startup hopes to introduce a better experience for financial planners on the digital investment app.
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Summary
We’ve strived our best in developing great apps that make an impact. We’re glad that these clients aren’t only going places with the app but manage to attract investors. As a leading app development company, we’re honored to be partnering up with such visionary clients.