Fierce Launches Out of Stealth With $10M Seed Funding to Empower Customers to Take Control of Their Finances
Available on iOS, the all-in-one finance app offers users industry-leading yield on cash, yield on stocks, wealth and portfolio tracking, 24/7 live support and a world class user experience
NEW YORK–(BUSINESS WIRE)–Fierce, the first-of-its-kind fintech platform unlocking the ability for users to earn high-yield returns across all their financial assets, today announced the company’s official launch out of stealth with its app available for iOS. The news comes in tandem with the company announcing $10M 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 further its goal of bringing the benefits of the app to as many people as possible.
Fierce was founded and built by a team of industry veterans, including executives from several U.S. stock exchanges, neo-banks, traditional banks, and crypto platforms. Prior to founding Fierce in mid-2021, CEO/Founder Rob Cornish was the CIO of the New York Stock Exchange, the CIO of the International Securities Exchange, and the CTO of Gemini Trust Company. 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 is to empower 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 best-in-class financial offerings all 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 in order to access top-tier rates. With Fierce, customers can get a rate like no other, with no fees, and also have the ability to 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. With the current volatility in the markets and the world, Fierce is a safe, secure harbor.
“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 provides users with the ability 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 makes it easy for users to track and manage their investments and will soon be adding 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 having to put in additional effort. Even when participating in FPSL, shares are always available for the customer to trade 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 which is personalized to each customer’s portfolio and interests. Fierce also enables customers to track and manage their total wealth by linking all their existing financial accounts within the app. Lastly, in keeping with its commitment to prioritize customers, Fierce is also launching with U.S.-based live 24/7 support via phone, email, or chat. Fierce believes that customers should always be able to reach a real person and be able to do so in the most convenient way for them.
“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.”
Fierce intends to continue to help customers unlock their financial confidence by providing them with best-in-class financial products, with plans to extend access to personal loans, mortgages, insurance, and more in the future. The Fierce app is now available for customers to download on iOS and will be launching for Android later this year.
For more information and to learn more about Fierce, please visit www.getfierce.com.
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Fierce is the innovative finance super app that brings together the best offerings in the fintech industry into one seamless user experience. Fierce offers a comprehensive yet seamless finance solution, including an FDIC-insured checking account with industry-leading APY, stock trading with passive yield, 24/7 live customer support and a rewards credit card and crypto trading coming soon. Headquartered in New York and founded in 2021, Fierce is built by a team of industry veterans that is led by CEO/Founder Robert Cornish, former CIO of the New York Stock Exchange and CTO of Gemini Trust Company, with support from investors including Pendrell, AP Capital, Space Whale Capital and more. For more information, visit getfierce.com.