# Simple

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/simple

- Industry: Financial Services
- Headquarters: Brooklyn, US
- Website: www.banksimple.com
- Total disclosed funding: $15M
- Latest round: Series C (Jun 11, 2013)
- Investors on record: 11

## About

Simple is a financial technology company that offers innovative banking solutions designed to enhance user experiences and streamline personal finance management.Founded in 2009, Simple specializes in providing digital banking services that simplify personal finance. Based in Brooklyn, US, the company underwent a significant transition when it was acquired by BBVA in February 2014 for USD 117 mn. The founder, Chien-an Chen, has a background in financial technologies and entrepreneurial ventures.Simple provides a suite of digital banking products tailored to meet the needs of individual consumers. Their offerings include checking accounts, budgeting tools, and expense tracking features, which cater to tech-savvy users seeking efficient financial management solutions. The company has successfully introduced its products in key markets across the United States, achieving recognition for their user-friendly design and effective functionality since their launch.Simple generates revenue through a structured transaction model that includes partnerships with financial institutions and direct consumer services. Their pricing strategy incorporates subscription models for access to enhanced features. Their flagship product, a digital checking account, plays a crucial role in the revenue stream, appealing to both individual clients and small businesses. The robust platform supports seamless transactions and user interactions, contributing to customer satisfaction.With the recent acquisition by BBVA, which took place in February 2014, Simple is positioned to leverage BBVA's resources to enhance its product offerings. Plans for future growth include the development of new financial products aimed at expanding the digital banking experience and targeting additional markets within North America. Utilization of the funding will focus on technology enhancements and market penetration strategies to reach a broader customer base.

## Funding rounds

- Series C, Jun 11, 2013, $2.2M — First Round Capital
- Series B, Aug 10, 2011, $10M — Shasta Ventures, First Round Capital, IA Ventures
- Series A, Sep 1, 2010, $2.9M — Village Ventures, First Round Capital, Anthemis, IA Ventures, SV Angel, 500 Global, Lerer Hippeau Ventures, Thrive Capital, Nauiokas Park
- Seed, Nov 1, 2009, $0.2M — Anthemis, SV Angel, Neu Venture Capital

## Investors

- Anthemis (https://capitalatlas.ai/funds/anthemis) — Seed, Series A
- SV Angel (https://capitalatlas.ai/funds/sv-angel) — Seed, Series A
- Neu Venture Capital (https://capitalatlas.ai/funds/neu-venture-capital) — Seed
- Village Ventures (https://capitalatlas.ai/funds/village-ventures) — Series A
- First Round Capital (https://capitalatlas.ai/funds/first-round-capital) — Series A, Series B, Series C
- IA Ventures (https://capitalatlas.ai/funds/ia-ventures) — Series A, Series B
- 500 Global (https://capitalatlas.ai/funds/500-global) — Series A
- Lerer Hippeau Ventures — Series A
- Thrive Capital (https://capitalatlas.ai/funds/thrive-capital) — Series A
- Nauiokas Park — Series A
- Shasta Ventures (https://capitalatlas.ai/funds/shasta-ventures) — Series B