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.
|Location:||Greater New York Area, East Coast, Northeastern US|
|Number of employees:||501-1000|
|Founders:||Jay Sidhu, Luvleen Sidhu|
Target geographic market:
|Products||BankMobile Vibe, BankMobile VibeUp, BankMobile Credit, BankMobile Personal Loans, BankMobile Student Refi Loans|
|Core product offerings for individual/retail customers||BankMobile Vibe|
|Regulators/Compliance||As a division of Customers Bank, BankMobile provides a digital bank, complete with FDIC insurance and governed by federal banking regulations.|
|The Base Currency||$ (USD)|
|ATM withdrawals||55,000 fee-free Allpoint® ATMs|
|(a) a personal account||Yes|
|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|
|Customer/Products segments||Banking, Lending, Savings, Personal Finance, Money Management|
|Banking license||The BankMobile Debit Mastercard® card is issued by Customers Bank pursuant to license from Mastercard International Incorporated|
|Type of customers||Individuals|
|Number of investors||N/A|
|Number of lead investors||N/A|
|M&A||BankMobile was acquired by Flagship Community Bank for $175M on Mar 9, 2017|
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