HyperJar, a London-based fintech startup, has successfully secured £19 million ($24 million) in Series A funding for its innovative money management app and card service. The investment round was led by Susquehanna Private Equity Investments, with participation from the Healthcare of Ontario Pension Plan.
HyperJar’s CEO, Rob Rooney, expressed his confidence in the company’s future, stating, “In a very tough fundraising environment, this investment represents terrific confidence in what we’ve built so far and in HyperJar’s future as a global business.”
The concept behind HyperJar’s money management platform revolves around the creation of individual savings “jars” for specific purposes. Each jar can be designated to allocate funds for specific purchases at particular stores. Moreover, businesses can leverage HyperJar’s software to offer their own customized versions to their existing customers.
With more than 500,000 customers already on board in the UK, HyperJar aims to expand its personal and business offerings in North America and Europe. The company’s vision aligns with helping individuals make the most of their spending, thereby enhancing their financial well-being. This approach sets HyperJar apart from traditional financial institutions, credit platforms, payment platforms, and asset and wealth managers.
Rob Rooney, who assumed the role of CEO at HyperJar in January, brings valuable experience from his previous career at Morgan Stanley. With this new funding injection, HyperJar is poised to continue its growth trajectory and further establish itself as a key player in the fintech landscape.