Fierce, a New York-based finance super app, has raised $10 million in seed funding in a round led by a group of angel investors and investors, including Pendrell, AP Capital, Wheelhouse Digital Studios, and Space Whale Capital.
The funds will be used to expand the company’s team of 18, acquire additional customers, and work on product development.
Fierce is developing a finance super app that integrates the best of fintech for customers, offering a variety of financial products, including the Fierce Cash account, an FDIC-insured checking account with an annual percentage yield rate of up to 4.25%, and a debit card with access to over 55,000 fee-free ATMs.
The app also provides 24/7 support, educational resources, market insights, analysis, and the ability to link other existing financial accounts.
In addition to its cash account, the company also offers stock trading, where users can purchase fractional shares and ETFs, and a Fully Paid Securities Lending program, where they can earn income by lending their stocks. Fierce intends to generate revenue from the investing side and assets under management.
The company’s founder and CEO, Robert Cornish, a software developer with a background as chief information officer for the New York Stock Exchange and chief technology officer for Gemini Trust Co, started Fierce in 2021 with the goal of taking the principles learned in cryptocurrency and bringing them back to traditional finance.
Later this year, the company will launch the Fierce Rewards Credit Card, offering 1.5% cash back on all spending, and regulated crypto trading. With the new funding, Fierce aims to continue its aggressive application development and take a long-term approach to crypto.