Wallit
Latest round
- Seed
Last raised
- Sep 2019
Total raised
- $2.6M
Investors
- 4
About Wallit
Founded in 2015 in Westbrook, US, Wallit provides a digital wallet solution tailored for employee benefits management.Wallit offers a comprehensive digital wallet solution designed to streamline employee benefits management for brands and retailers. The core product allows companies to deliver a fully integrated platform that encompasses various lifestyle and wellness benefits, insurance, perks, rewards, and expense reimbursements in a single system. By utilizing existing debit and credit cards, Wallit simplifies the employee experience and provides easy access to a range of benefits at retailers globally, both online and in-store. The service targets businesses looking to enhance employee satisfaction by personalizing benefits and facilitating the selection process based on individual preferences.Wallit's revenue model is structured around partnerships with employers and retailers, leveraging a subscription-based framework for accessing its digital wallet services. Clients, primarily businesses, subscribe to the platform for a fee that covers implementation and ongoing support, allowing them to manage employee benefits effectively. Transactions occur as employees utilize their cards for purchases, where Wallit facilitates the addition of funds to the wallet balance automatically. The value of transactions is driven by the monthly allowances set by employers, creating a system that encourages utilization of wellness and lifestyle benefits. The company aims to develop additional features for its platform that are set to launch in the upcoming year. Furthermore, Wallit is targeting expansion into new geographic regions, although specific markets have not been detailed.
Who invested in Wallit
4 investors across 1 round
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Funding rounds
Seed
Sep 16, 2019
Amount
$2.6M
Investors
Questions about Wallit
Who invested in Wallit?
Wallit has 4 investors on record across 1 venture round. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has Wallit raised?
Wallit has raised 1 venture round. Sign up free to see how much each round raised and the total.
When did Wallit last raise money?
Wallit's most recent round on record is a Seed, in Sep 2019.
What does Wallit do?
Founded in 2015 in Westbrook, US, Wallit provides a digital wallet solution tailored for employee benefits management.
Where is Wallit headquartered?
Wallit is headquartered in Westbrook, US.
Which VCs invest in companies like Wallit?
Among active investors with capital left to deploy, Radical Ventures, Ribbit Capital, TrueBridge Capital Partners and Tribe Capital back financial services companies at Wallit's stage. Their profiles are linked below.
VCs backing financial services startups at Seed
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