Good Money, a crypto company from Los Angeles, USA, reported completion of the Series A funding round with $30 million investments.
According to the press release unveiled December 10, the funding round was “led by Galaxy Digital via its Galaxy EOS VC Fund with investments from Breyer Capital, Blocktower Capital, Boost VC, Ken Howery, Blockchange Ventures, Cross Culture Ventures, Troy Carter, Mitch Kapor, Peter Diamandis, Blake Mycoskie, Justin Rosenstein, and others.”
As the project team stated, their startup is the first provider of “values-based banking services for the 21st century with leading features in the rapidly emerging neo-banking market" willing to bring democracy to the banking sector and spend earnings to make the world better.
The company intends to be a bank, which provides every customer with an equity after opening an account. This means that the customers will become owners of the platform. Notably, the platform will also grant extra equity for installing the app, deposits or referrals.
Speaking about the company plans, it is going to launch fee-free ATMs in the USA as well as zero fees overdrafts and FDIC deposits at 2% annual rate.
“Good Money users will direct 50% of the platform's profits to impact projects focused on social and economic inequality, environmental stewardship and renewable energy,” as the company stated in the press release.
The application will be fully operational in 2019. It will support mobile crypto wallet with additional referral rewards.