BankMobile

Description

BankMobile is a mobile application that offers a branchless banking experience without fees. BankMobile was formed to address the fact that there is a large and growing gap between low- and middle-income Americans and low-cost financial services.

Overview
Type: Private
Foundation year: 2015
Location: Greater New York Area, East Coast, Northeastern US
Number of employees: 501-1000
Founders: Jay Sidhu, Luvleen Sidhu
Website: https://www.bankmobile.com/
Target geographic market:

North America

About Product/Service
Products BankMobile Vibe, BankMobile VibeUp, BankMobile Credit, BankMobile Personal Loans, BankMobile Student Refi Loans
Core product offerings for individual/retail customersBankMobile Vibe
Regulators/ComplianceAs a division of Customers Bank, BankMobile provides a digital bank, complete with FDIC insurance and governed by federal banking regulations.
The Base Currency$ (USD)
 
Product costFree
ATM withdrawals55,000 fee-free Allpoint® ATMs
(a) a personal accountYes

Key people

Funding rounds

Last Funding Date N/A
Last Funding Amount N/A
Last Funding Type N/A
Total Funding Amount N/A
Number of Funding Rounds N/A

Financials

Customer/Products segments Banking, Lending, Savings, Personal Finance, Money Management
Banking licenseThe BankMobile Debit Mastercard® card is issued by Customers Bank pursuant to license from Mastercard International Incorporated
Type of customersIndividuals
Number of investors N/A
Number of lead investorsN/A
M&ABankMobile was acquired by Flagship Community Bank for $175M on Mar 9, 2017

Tech stack

Competitors

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Reviews