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Financial Literacy Tech

Financial Literacy Tech
June 14, 2022

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My first introduction to Suze Orman was The Money Book for the Young, Fabulous & Broke, a financial literacy book aimed at "Generation Debt." For my generation, who graduated college during the Great Recession, saddled with historic student loan debts and few job prospects, the book was a helpful resource after missing the memo from our parents and teachers.


Aside from the generic message of "save your money," Orman was the first to familiarize me with the concept of an emergency fund, a savings account that holds your average monthly spending multiplied by some possible number of months that things could go awry due to job loss or car failure. But the lesson hasn't quite caught on. A recent poll showed that only 23% of Americans have the suggested six months of emergency savings. Moreover, 26% of Americans have no emergency savings at all. Amidst increasing layoffs and recession fears, it's a perfect time to have a rainy day fund.

      


Yet again, Suze Orman is out to change this dynamic -- this time, by making it easier for an employee to automatically deduct a portion of his or her paycheck to an ESA (emergency savings account), much like retirement savings. The method is SecureSave, the newly funded startup with Suze Orman as ambassador and co-founder.

Financially Savvy Startups
Brigit is a financial app for people living in economic insecurity to build credit and avoid the payday advance companies and overdraft fees that make it harder to improve circumstances. Esusu helps renters build credit by reporting rent payments to the credit bureaus. For more fintech companies turning money problems into funding opportunities, check out Forbes Fintech 50.

Sentient AI?
A rogue engineer is spreading the word that Google has achieved a sentient robot. 
[Axios]
IPOs in China are up
Companies are staying private longer, everywhere but China.
[WSJ]

 
Since last week, PrivCo has added:
2,104 Companies | 266 Funding Activities | 173 M&A Deals

Funding & Deal Highlights:
 

Cambly raises $60MM from Benchmark

Language Learning • Equity • San Francisco, CA
 

OhmConnect raises $55MM from Telus

Energy • Round D • Oakland, CA
 

Corvia raises $54MM from undisclosed investors

Medical Devices • Equity • Tewksbury, MA
 

Tessa Therapeutics raises $126MM from Polaris

Biotechnology • Round A • Singapore City, Singapore 
 

Boulder raises $36MM from Qiming Venture

Addiction Treatment • Round B • Portland, OR
 

Continual raises $14.5MM from Innovation

Data Management • Round A • San Francisco, CA
 

Anagenex raises $30MM from Catalio

Drug Research • Round A • San Francisco, CA
 

Ever/Body raises $55.5MM from Tiger Global

Skincare • Round C • New York, NY
 

Testbox raises $10MM from Felicis Ventures

Testing • Seed • Boulder, CO
 

Summer raises $13.4MM from QED Investors

Real Estate • Seed • New York, NY
 

RealWear acquires GenbaAI

SaaS • Acquisition • Seattle, WA
 

G&A Partners acquires Focus OneSource

Human Resources • Acquisition • West Des Moines, IA

 

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