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Fierce come out of stealth with $10m seed funding

By Edlyn Cardoza

February 10, 2023

  • Cash back
  • Crypto Trading
  • ETFs
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Fierce, FinTech, High-yield Returns, Financial Assets, Fierce Cash Account, Cash Back, Rewards, Fierce Rewards Credit Card, USAFierce, a FinTech platform unlocking the ability for users to earn high-yield returns across all their financial assets, announced the company’s official launch out of stealth with its app available for iOS.

The news comes in tandem with the company announcing $10 million in seed funding, with participation from leading institutional investors, including Pendrell, AP Capital, Wheelhouse Digital Studios, Space Whale Capital and several notable angel investors. Fierce intends to use the funds to grow its team, acquire more customers, and bring the app’s benefits to as many people as possible.

Today’s financial market is abundant with solutions, but navigating through various opportunities can feel disjointed and overwhelming for the average person. Fierce’s mission-driven approach empowers users to take charge of their finances with confidence — regardless of where they are on their financial journey — by reducing the friction most people face in the current landscape of fractured spot solutions.

Fierce provides customers with financial offerings in one beautiful yet powerful app that helps them feel more confident with their finances. Unique to the company’s offerings is the Fierce Cash account — an FDIC-insured checking account that earns an industry-leading current rate of up to 4.25% APY, where cash is available 24/7 via a no-fee debit card with access to over 55,000 fee-free ATMs.

Unlike other offerings, Fierce does not charge monthly fees or impose restrictions that lock up your cash to access top-tier rates. With Fierce, customers can get a rate like no other, with no fees, and earn interest on owned stocks. Additionally, the Fierce Rewards Credit Card will launch later this year with 1.5% cash back on all spending. All interest and rewards are automatically redeemed into the user’s portfolio — there is no need to spend time managing or redeeming points.

“Fierce is a customer focused, feel-good finance app,” said Rob Cornish, Founder and CEO of Fierce. “We are truly mission-driven in our effort to bring the best of fintech to people, so we built an incredibly advanced platform with a simple UX to give as much yield as possible to our customers. Our goal is to help users increase their wealth while enjoying an empowering, positive experience on the app.”

In addition to the cash deposit offering, Fierce also allows users to purchase shares of stocks and ETFs, including fractional shares, meaning that customers can invest in the companies they know and love without having to purchase a full share of stock. This can be especially useful for individuals who are new to investing or have a limited budget.

Fierce also offers a user-friendly interface that allows users to track and manage their investments and will soon add regulated crypto trading. Fierce’s educational resources, market insights and analysis will help users make informed decisions and stay up-to-date with the latest financial trends.

Customers can also profit from existing stock holdings by participating in Fully Paid Securities Lending (FPSL) — a common type of securities lending — where they can earn passive income by lending their stocks. This allows customers to make the most of their investment portfolio and earn additional income without additional effort. Even when participating in FPSL, shares are always available for the customer to trade at any time.

Fierce’s mission is to empower people to feel confident about their finances, which starts with customers staying well-informed. The app will launch with a proprietary AI-driven news feed personalised to each customer’s portfolio and interests.  The company also enables customers to track and manage their total wealth by linking all their existing financial accounts within the app. The company is also launching US-based live 24/7 support via phone, email, or chat in keeping with its commitment to prioritise customers.

“As we’ve seen with some of the recent turbulence in the financial markets and incumbent institutions, the market is ready for a solution like Fierce, a company that puts customers first,” said David Krell, Angel Investor and past Founder/Chairman of the International Securities Exchange. “Fierce is entering the market with a powerful solution that allows customers to take control of their finances while calming the financial anxiety that many people face today. We’re confident in the company’s ability to provide customers with the means to create financial stability for the long run. I’m thrilled to be a part of this journey with Fierce and the company’s relentless focus on helping investors across the country reach their financial goals.”

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