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Charlie debuts banking services for retirees in USA

By Delisha Fernandes

May 12, 2023

  • Banking Services
  • Banking Solutions
  • Cash Flow
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CharlieCharlie, the new standard for 62+ banking services, launched nationwide and has raised $7.5 million from investors in the funding round led by Better Tomorrow Ventures, Expa, Ayokunle Omojola, and Gokul Rajaram.

Charlie helps retirees and soon-to-be-retirees make the most of their limited resources with features including faster access to their Social Security check, competitive 3% earnings on average balances and no monthly fees or minimums, as well as US-based customer service, and a simple, transparent digital experience designed for their needs.

“In the United States, the 62+ community has never had financial services designed for their unique needs. Charlie was created to change that,” said Kevin Nazemi, co-founder and CEO of Charlie. “Charlie is designed to address the financial challenges of retirees and soon-to-be-retirees meaningfully: shifting from accumulating assets to deaccumulation, the struggles regarding transparency and trust in the financial services world, and a lack of options to help them make the most of their limited resources to enjoy life. We look forward to serving this community and giving them the peace of mind they deserve.”

With high cost of living and lack of cash flow being two of the top three concerns of retirees and soon-to-be retirees, along with their rapid adoption of technology, this population is in need of a new type of banking solution. Charlie also considered how the 62+ community utilises technology and built transparent and controllable services and support for retirees to manage their financial future.

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